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Vector says power usage lags target on warm weather

Thursday 4th December 2008

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Vector, New Zealand's biggest distributor of power and gas, said electricity usage on its network was lower than forecast because of a mild winter and energy-saving campaigns.

Power distribution rose 0.5% to 2,294 gigawatt-hours in the third quarter, 2.1% less than expected, Vector said in a statement. Retail gas sales of 6.4 petajoules were unchanged from a year earlier.

New electricity connections rose 1% to 519,487. Vector's shares were unchanged at $2.01 and are down 10% this year.

By Jonathan Underhill

  General Finance Advertising    

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