Safe, secure and resilient network
Our customers have told us we’re meeting their expectations, and they want the standard of our services to be at least maintained at current levels. They also expect us to operate a safe, secure and resilient network.
Looking to the future, we are concerned we will not be able to meet these expectations. This is because a large proportion of our network was built in the 1950s and 60s and now needs replacing. We want to keep the power on and for customers to use exciting new technology, such as home electric vehicle charging, rooftop solar, energy storage and smart appliances.
Investing in our communities
Many of the communities we serve are growing and this is expected to continue. Delivering services that meet future needs and customer expectations means increasing our investment in the network. The decisions we make on spending during the next few years will shape the capability and performance of our networks in the coming decades.
We plan to invest about $1.32 billion during the next five years, an increase of about 50% compared with the previous five years. We have made a formal application to the Commerce Commission regarding this proposal.
The Commerce Commission will ultimately determine whether our proposed investment is appropriate and can be delivered. The Commission will also take into account whether our plans are in the best interests of customers. The final approval will determine the amount of revenue we can recover from customers through our distribution charges.
We have produced a video to help explain our investment proposal. The video was produced before consulting with you and before submitting the proposal to the Commerce Commission. Unlike what is stated on the video, if the Commission approves our proposal, average household electricity distribution prices are likely to rise by less than 80 cents a week – not $1 to $1.50 a week. Also, as we have now submitted our proposal to the Commission, our formal public consultation on the plan has closed.