Vector Electricity Asset Management Plan— 2020 Update
FINANCIAL YEAR ($000)
AMP20
FY21
FY22
FY23
FY24
FY25
FY26
FY27
FY28
FY29
TOTAL
Customer connection
(2,490)
13,250
4,976
2,520
7,883
6,843
5,692
8,779
8,926
56,378
System growth
6,752
11,304
(5,534)
(18,914)
(15,513)
5,115
12,952
3,743
(4,111)
(4,206)
Asset replacement and renewal Asset relocations (excl ALR) Reliability, safety and environment:
13,477
(1,261)
3,080
7,304
25
8,249
2,395
(572)
(5,065)
27,632
2,919
3,815
(2)
2,081
0
0
0
0
0
6,734
(3,186)
(5,294)
(4,165)
(4,059)
(4,110)
(1,509)
(1,451)
(1,451)
(1,451)
(26,675)
Quality of supply Legislative and regulatory
0
0
Other reliability, safety and environment Non-network asset Total CAPEX (excl ALR)
(3,186)
(5,294)
(4,165)
(4,059)
(4,110)
(1,509)
(1,451)
(1,451)
(1,451)
(26,675)
19,906
10,512
9,495
2,664
463
(16,364)
(1,229)
308
4,696
30,452
37,378
32,326
5,772
(8,403)
(11,251)
2,334
18,358
10,808
2,995
90,314
Auckland Light Rail
(12,485)
(21,848)
(9,364)
0
13,525
21,848
8,323
0
0
0
Total CAPEX (incl ALR)
24,893
10,478
(3,592)
(8,403)
2,274
24,182
26,681
10,808
2,995
90,314
2019/2020 CAPEX VARIANCE
EXPLANATION OF MAJOR CAPEX VARIANCES • Customer connection is $56m higher due to higher number of large-customer connections and forecast increase in greenfield subdivision volume and cost • System growth is $4m lower largely due to a lower load forecast, and adopting alternative, lower cost options to meet capacity requirement. This is partially offset by an increase in Wellsford-Warkworth 110kV project cost • Asset replacement is $28m higher driven by additional resource allocated to reactive maintenance to improve response times to asset failures when they occur, and thus reducing network outage period • Asset relocation is $7m higher due to deferral/delay of Transpower 33kV switchgear outdoor to indoor projects and CRL project from FY20 into the AMP20 planning period • Due to the acceleration of work programmes for network automation and fault passage indicators (FPIs) into the FY20 period as part of the RY20 SRMP, Reliability expenditure is included in this AMP update at a reduced level • In the 2019 AMP, allowance was made for increased property CAPEX pertaining to refurbishment costs and lease amendment. Much of that spend was expected in FY20 but the refurbishment is now likely to occur across FY21 and FY22. Leasing arrangements have also been amended causing re-phasing of spend across the AMP years • Additional investment has been included in for strategic technology partnerships
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