Vector Announces New Board Member

Vector Announces New Board Member

Vector Chairman Michael Stiassny announced on Friday that Jonathan Mason will be joining the Vector board, effective immediately.

Mr Mason has extensive commercial experience having worked in the oil and gas, chemicals, forest products and dairy industries in the USA and New Zealand. He held the position of Chief Financial Officer at Carter Holt Harvey in 2000-2005 and is currently Chief Financial Officer at Fonterra, but is stepping down later this year.

“The board is delighted that Mr Mason has accepted this appointment and look forward to the valuable contribution he will make, particularly given his strong background in financial management in New Zealand and the United States,” he said.

The appointment of Mr Mason is permitted under the board’s constitution.

NETWORK SUMMARY for week ending 10 May 2013

ELECTRICITY
The winter blast brought with it a spate of road accidents including two car vs pillar incidents and four car vs pole incidents, as well as bringing down power lines in storm affected parts of the city.

Vector staff and contractors, including Treescape, worked through the night to reinstate the power supply as the city was put under pressure from Sunday night through to Monday morning.

Before the storm hit, a storm response team (made up of staff from Northpower, Electrix, Telnet, Treescape and Vector staff) forecast the areas the storm was likely to hit hardest and briefed contractors to ensure extra crews were on hand to manage any damage to the network.

As expected, at around 10pm Sunday evening, Auckland was hit with heavy rain and strong winds which came in from the north-west. The storm caused outages in west coast suburbs and affected more than 7,000 customers over a 24 hour period.

We are pleased to report that, under tough conditions, and with time pressures, there were no accidents or incidents.
GAS TRANSMISSION AND DISTRIBUTION
Contractors working in the area struck a gas pipe in Hillcrest, Hamilton and emergency works were carried out immediately to repair the damage.
PROJECTS
Middlemore Upgrade

Vector begins work on securing the future supply of power to one of the country’s largest hospitals, Middlemore Hospital, as it expands to cater for demand.

New underground cables will be laid along four streets between the Hans Street Substation and Middlemore Hospital over the next three months. The cables will be mainly installed under the footpath.

This is the second phase of the upgrade project which saw Vector secure the backup power systems at the hospital last year.

The hospital is undergoing a $200 million upgrade including new buildings and replacement of old buildings.

SHORTS

• Vector owns over 17,737 kilometres of overhead and underground lines in the greater Auckland area, and 12,752 of gas pipe lines, almost half of which supply gas to Auckland.
• King’s College Big House Music returns to the Arena on Friday 24 May.
• Vector, proud sponsor of the Arena.

Vector owns and manages a unique portfolio which consists of electricity distribution, gas transmission and distribution, electricity and gas metering installations and data management services, natural gas and LPG and fibre optic networks.

Vector is listed on the New Zealand Stock Exchange with ticker symbol VCT. For further information, visit www.vector.co.nz

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