MORE POWER.

Auckland Star, Volume LXIX, Issue 206, 1 September 1938, Page 12

MORE POWER.

DEMAND INCREASES. SUCCESSFUL UNDERTAKING. HYDRO-ELECTRIC PROGRESS. (By Telegraph.— Parliamentary Reporter.) WELLINGTON, this day. Hydro-electric developments have continued to be one of the Government's most successful undertakings, and it was claimed in the stateent that the conditions attendant on the more prosperous times of the past two years have given the public more confidence and a greater sense of security, which is reflected in continually* increasing demands for electric power. The amount of power supplied from the Government system has miown a phenomenal increase during the year. The gross revenue lias Increased to £1,470,043, and after paying operating expenses, interest and depreciation, it has been possible to make available a sum of £179,(541 to the sinking fund account which is still, however, £942,757 in arrears. With a net balance of £800,947 after paying working expenses, the North Island system shows a percentage of net balance to working capital ot 9.039 per cent. The net balance for the South Island system is £364,830, representing 0.009 per cent. For tTie year just closed the number of units generated in the Government stations showed an increase over the previous year of 15.95 per cent in the North Island and 33.3 per cent in the South Island. The latter increase is to some extent accounted for by the acquisition of the Arnold River station of the Grey Electric Power Board, the first complete year of operation of Monowai .station under Government ownership, and to increased demands by Christchuivh and Dunedin cities.

Financially the year has been a successful one, and the whole electric supply account has been able to earn 7.84 per cent on the operating capital after paying net operating expenses. A Healthy Condition. The capital invested in the electric supply syetems operating throughout the Dominion totals £35,527,342, which includes £15,538,029 of Government expenditure, and the gross revenue received for the year wan £5,086,397. After paying working costs, interest, sinking fund, and depreciation charges the net profit for the year under review was £878,594, as compared with £570,131 for 1937, which indicates that the electric supply business ae a whole is in a healthy condition. An analysis and summary of the operating results and other statistics furnished by each electric eupply authority reveals the fact that there has been an increased consumption of electrical energy amounting in the aggregate to approximately 14 per cent over that of 1937. This is due mainly to intensive load-building campaigns on the part of many of the retail supply authorities, a phenomenal increase being noticeable in the electric cooking and electric water-heating side of the business. . N The statistic* -also indicate that during the past year 17,553 new consumers have been connected at an average rate of approximately 1460 per month, and the completed figures for the year show that the ratio of number of consumer*, of electricity to the total population of the Dominion (1,591,974) is 24.4 per cent, or 26.2 per cent of population in areas supplied with electricity.