POWER FINANCES.

Ashburton Guardian, Volume 64, Issue 30, 15 November 1943, Page 2

POWER FINANCES.

I THE HALF-YEARLY REPORT. EFFECT OF THE SNOWSTORM. A financial statement covering the half-year ended September 30 was placed before the Ashburton Electric Power Board this morning by the En-gineer-Secretary (Mr H. G. Kemp). The excess of income over expenditure was £2348 6s Id, compared with £4lßl 12s for the correspondingmonths last year, stated the report. In view of the extraordinary expenditure on repairing snow damage and load renewal, however, amounting to about £3300, the position was satisfactory.

As a result of the heavy snowstorm in June there was also a substantial increase in distribution, maintenance and repairs, totalling about A saving of about £3OO would be effected by repairing some of the damaged steel poles. Sundry charges also increased by £284, largely attachable to the renewal of the Melbourne loans, involving brokerage on £45,250.' There was a drop in the cost of reading meters, which was high last year on account of training new readers. Principal among the items of expenditure were: Operating, £15,950 15s 6d; distribution, £6185 18s sd; debenture interest, £8196 17s; debenture redemption, £4327 Ids 6d; general, £3028 6s 4d. On the receipts side appeared: Domestic service, £23,965 12s 6d; power service, £8320 Is sd; commercial service, £8099 13s 7d; public lighting, £699 13s 8d; sundry revenue, £428 4s 4d.