Electricity Asset Management Plan 2019-2029
224
Vector Limited://
PROPOSED INVESTMENT SUMMARY ($MILLION NOMINAL)
DESCRIPTION
FY20
FY21
FY22
FY23
FY24
FY25
FY26
FY27
FY28
FY29 TOTAL
Network Operations
1.90
1.25
1.95
0.60
1.97
1.25
2.40
2.70
2.40
2.72
19.14
Total CAPEX
1.90
1.25
1.95
0.60
1.97
1.25
2.40
2.70
2.40
2.72
19.14
BUSINESS OPERATIONS
NEEDS STATEMENT The successful functioning of any business requires capabilities to support successful execution of business operations. This investment category reflects the ongoing investment in financial capabilities, customer account management, human resources and premises (including physical security and monitoring (e.g.: camera recording and backup). Optimising and automating core business functions in the Finance domain will lead directly to improved customer and business outcomes, through improved processing time and more consistent and concise processes. We are heavily reliant on our customer data, and investing in improving the way we store, manage and maintain that customer data for both communication and engagement purposes. Specific investments in this area include enhancing our existing finance domain to enable automated reconciliation, developing new employee engagement and communication capabilities and providing more accurate and relevant information to customers about the status of their account and connection across the customer lifecycle.
TARGETED OUTCOMES
CUSTOMER EXPERIENCE
SAFETY
RELIABILITY
RESILIENCE
OPERATIONAL EFFICIENCY
CYBER SECURITY AND PRIVACY
OPTIONS CONSIDERED Options to address the need identified above have been assessed and are summarised in the following table.
DESCRIPTION
DISCUSSION OF OPTION
ESTIMATED COST (NPV IF APPLICABLE)
STATUS
Option 1: Business as usual – no additional investment
No targeted investment in HR, Finance, premises and customer account management leads to significantly reduced efficiencies in internal processes, and increased cost to serve for customers. This will also directly contribute to a reduction in the availability of Vector team members to engage with value creating customer activities.
Rejected
Option 2: Business Operations Reflecting the need to develop capabilities that enable both employees and customers to achieve their objectives will improve Vector’s ability to provide quality services at an optimised price point. Further to this, investment in this area will enable Vector to improve its ability to communicate with customers through more effective management of customer accounts.
$16.2M Selected
PROPOSED INVESTMENT SUMMARY ($MILLION NOMINAL)
DESCRIPTION
FY20
FY21
FY22
FY23
FY24
FY25
FY26
FY27
FY28
FY29 TOTAL
Business Operations
0.18
0.99
1.77
1.71
2.07
2.19
1.59
1.57
1.90
2.28
16.25
Total CAPEX
0.18
0.99
1.77
1.71
2.07
2.19
1.59
1.57
1.90
2.28
16.25
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