Performance
The table below summarises the actual versus planned asset management
expenditure for the 12 month period ended 31 March 2015.
BUDGET $M
ACTUAL $M
VARIANCE
Capital Expenditure
Customer Connection
8.791
10.930
24%
System Growth
9.946
10.765
8%
Reliability, Safety and Environment
0.957
0.466
-51%
Asset Replacement and Renewal
3.450
3.205
-7%
Asset Relocations
0.153
0.045
-71%
23.297
25.411
9%
Routine and Corrective Maintenance and Inspection
1.487
1.439
-3%
Asset Replacement and Renewal
0.168
0.202
20%
Vegetation Management
0.617
0.888
44%
Service Interruptions and Emergencies
0.877
1.041
19%
Subtotal - Operational Expenditure on Asset Management
3.149
3.570
13%
26.446
28.981
10%
0.470
0.202
-57%
Subtotal - Capital Expenditure on Asset Management
Operational Expenditure
Total Direct Expenditure on Distribution Network
Overhead to Underground Conversion Expenditure
Key highlights for the 2015 year include:
• Record numbers of network
extensions and new customer
connections, all completed in a
timely manner.
• Completion of 2.1MW (Megawatt)
distributed generation connection
for the Kate Valley landfill.
• Slower than expected progress on
Rangiora West 66kV lines but all
22kV conversion work completed.
• Purchase of a site for a future
Rangiora East zone substation
was completed. This caused the
System Growth expenditure
overrun.
• Reliability, Safety and
Environment expenditure was
down due to slow progress of the
South Bay Kaikoura underground
conversion work, and on the Boat
Harbour area 66kV upgrade.
• A single major high wind event
lead to high Service Interruption
expenditure.
• Resource constraints resulted
in lower levels of switchgear
renewals and line maintenance
than planned despite the
more extensive use of external
contractors.
• Relocation of MainPower’s head
office to Southbrook.