Vector AR’19 ― regulated networks (continued)
Mixing traditional assets with new technology Vector recently published its updated Asset Management Plan (AMP), setting out how we intend to deliver a resilient, reliable electricity network to Auckland over the next 10 years – a period in which the region’s population is expected to exceed two million people. In our AMP, a smart mix of traditional and digital assets underpins our drive to provide safe, reliable and affordable energy for a continually growing customer base. We have a digitisation programme underway to enable better asset management and load optimisation, and supporting innovative outage management services. This platform is the foundation of a new customer proposition that will give consumers more choice and control over their energy needs. Based on our experience to date, we know that further investment in digital technology will significantly enhance the capabilities of our physical networks, as well as our ability to quickly adapt to changing demand. In the new five-year regulatory period beginning next April, these types of investment decisions will increasingly from historical spending categories. Vector is working with the Commerce Commission and the Government to ensure regulatory settings do not limit our ability to invest in new technology for the long term benefit of consumers as Auckland grows. challenge the current regulatory settings, which have been built
Warkworth and Snells Beach battery systems Auckland Council estimates that Auckland will have two million residents by 2028. It’s therefore no surprise we’re experiencing increasing customer density in the established parts of the network and new demand at the fringes. As once sparsely populated rural areas like Warkworth and Snells Beach grow, the associated increase in electricity demand is putting real pressure on local networks. Last year, Vector reinforced electricity supply to Warkworth and Snells Beach by installing large battery systems. They work by drawing and storing electricity during periods when the community is using little power, and releasing the electricity when needed to support the local network during high-use periods. This approach allows us to cater for localised growth in the near term while considering how the needs of the area should be met in the long term. An added benefit is flexibility – should a battery system no longer be required, we can move it to a new location.
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