Creating LONG-TERM VALUE
CUSTOMER CHOICE
SECTOR CONVERGENCE
Customers have more control over how they use and consume energy than ever before. They are empowered and want access to a range of options. We need to diversify and provide choice for customers, so that we have a role in how technology and people interact with our network in the future.
A number of sectors are converging, including energy, transport and information technology. Sector convergence will lead to more competition, particularly for talent, and will provide
MATERIAL VALUE DRIVERS AND KEY STAKEHOLDERS //
customers with access to easy and convenient energy options.
POLITICAL AND REGULATORY UNCERTAINTY
WORKER SAFETY
Vector’s working environment has a number of potential hazards, largely associated with electricity and gas. Our focus on health and safety is critical to ensuring these hazards are managed.
Regulations control the way our business operates and interacts with our customers. We must actively work with political and regulatory stakeholders on behalf of consumers.
Determining what matters involves identifying potentially important matters using a range of sources, including media articles, trend updates, business unit planning, and stakeholder engagement. These matters are then assessed for importance, to Vector and our stakeholders.
CYBER SECURITY
LOW CARBON TRANSITION
We are seeing an increased number of cyber threats on our systems, including a data breach of our outage app in April 2018. Ensuring the safety and security of these systems is key to building a resilient business. Our network is critical for the success of New Zealand, and any cyber threats need to be treated seriously. We need to have the right tools in place to mitigate any potential threats.
ENERGY RELIABILITY
EXTREME WEATHER EVENTS
We support the low carbon transition by decarbonising our own operations through efficiency and substitution while assisting in the global transition. We are creating new products and services that will reduce carbon from the energy and transportation sectors.
Making sure our network has the ability to meet the demands of a growing Auckland. Customers want to have energy available at all times, we need to ensure our network is resilient to storms, and can meet peak demands of a growing population and electrifying economy.
The increasing frequency and severity of storms impacts on the reliability of our network, as seen during the April 2018 storm. Extreme weather events have the potential to disrupt our network for long periods, and we need to understand how they will impact us, and what we can do about it.
SOCIAL INEQUALITY
ELECTRIFICATION OF TRANSPORT
ENERGY AFFORDABILITY
Inequality in society has been increasing year on year, especially in relation to income and home ownership. We support equitable pay policies, including the Living Wage, and we advocate for equitable and fair remuneration with our supply chain.
The transition to electrification and automation of all forms of transport, from passenger vehicles to public transport. This will impact how customers use and interact with energy, shifting and increasing demand.
Ensuring pricing is fair and transparent, particularly in the face of increased distributed energy, pricing reforms and rising energy poverty. Our customers want fair and transparent pricing, and we advocate on their behalf.
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