Monday, 12 November 2018 12:56

Regulator monitoring performance of NZ electricity lines companies

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Image supplied by The Commerce Commission Image supplied by The Commerce Commission

New Zealand’s competition regulator The Commerce Commission says newly published key performance measures for the country’s electricity companies allow for stronger year-on-year comparisons across the sector as a whole and for individual lines companies.

The Commission has just published its third set of one-page summaries of key performance measures for each of New Zealand’s 29 electricity lines companies, with the latest data showing that capital expenditure across the sector has increased by 16% and operational expenditure is up 5%.

Deputy chair Sue Begg said with three full sets of summaries now published, “the purpose of these summaries is to shine a light on lines companies’ performances and with a third set of data now published there are some interesting trends emerging".

“Through our own analysis when comparing the data sets, we have seen that overall demand has increased over the past year in terms of total energy delivered, peak demand, network capacity and customer numbers.

“Across the sector, capital expenditure has increased by 16% and operational expenditure is up 5%, which is significantly higher than the three year average. In 2018, total revenue has also increased by nearly 4%; however lines companies’ collective return on investment has dropped 1% and regulatory profit decreased by nearly $100 million (12%).”

Begg says there remain differences between the performances of different lines companies, such as the health of assets including poles, lines and substation equipment, and also in the detailed knowledge the companies have of the condition of their assets.

“Where we identify any specific performance issues, particularly in terms of the risk posed by aging assets, we will be following up with lines companies to ensure their management plans are properly accounting for their network requirements,” Begg said.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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