MALVERN ELECTRIC POWER BOARD.

Press, Volume LXVII, Issue 20251, 1 June 1931, Page 4

MALVERN ELECTRIC POWER BOARD.

ANNUAL MEETING HELD.

The annual meeting of the Malvern Electric Power Ijoard was lie Id : recently, Mr \john Deans taking the chair, with a full attendance of members. The chairman submitted his annual report, the annual statements, and relative balance-sheet for the last financial year. Referring to capital expenditure for the year, which had totalled , £1927, the said that this represented an increase of only .32 per cent., and as far as octuld be seen at the present time the only new capital required iii the near future.was to provide for an 11,000-volt supply, as it was in accordance with the policy of the Public Works Department to supply all authorities at this voltage, and they desired to do it at Uororata when the Board's existing supply agreement with the Department terminated on March 315t,'1932. Revenue from sale of current totalled £6813, an increase of 4£ per cent, over last year's total; the cost of power had increased by 1.4 per cent., which showed the benefit of the condenser equipment installed at the beginning of the year. From the summary embodied in the report it was shown that although the gross receipts had increased by £1517, the. expenditure had also shown' a large increase, and the net result was a loss of £1298 for the year. Particular increases" on the expenditure side had ' J . een tor interest and sinking funds ' ll depreciation £3OO . The first of. these increases was due to the number of poles which it had' been found necessary to replace, an item which will probably increase as. the years go on, or at any .rate until the worst of the original poles are eliminated.

The Engineer-Secretary in his annual report stated that the profits from the Board's trading venture J?ad dropped to £l3°v. compared with the profit of £2BO 111 the previous year. Notwithstanding tins drop in profits it had taken 700 book transactions to produce I the year's profit, as compared with 570 i transactions for the previous year. I Consumers' patronage had changed" ; from orders for expensive equipment to euquiries for small utility apparatus, spare parts, and servicing work. Ten Further consumers Had been added to the last year's total, the total number of consumers now being supplied beine 604, of which 21.1 per cent, had had cookers 'nstalled, the total connected load being 2048 k.w. Water-heaters still remained unpopular with the consumers, and in spit© of the more favourable rate adopted for them by the Board the previous year, only 10 per cent of the consumers have had one installed. The year that had just closed "had been the most expensive one to date from the point of view of line maintenance charges, the expenditure being entirely due to the early collapse of a number of blue gum poles in the Board's oldest lines. Hurricanes of greater intensity had been experienced in previous years, but they did not claim so' many pole victims as the gales last year. With the rapid falling off ot capital construction works, an early start had been made to recondition the •stfpports in the main feeHci-s, de-sapped iron|>ark poles being used. After the adoption of the annual reports and balance-sheet subject • to audit, vfc was decided to look into the matter o£ having the. present schedule of rates redrafted to make tile charges for electricity more equitable, " now that L it was necessary for the Board

to levv a rate. on. all rateable property, and Messrs John Deans, G. JbOalL and the secretary, were appointed a sut>commxttee to redraft the schedule of rates and report back to the Board. upon Mr John Deans retiring from tne chair, hp-i was unanimously.. re- 1 elected to take the chair for the < ensuing jcar. Mr Deans expressed his appreciation of the assistance received .y ■- nim_froin !tho and stair, and it was resolved that a copy of a resolution of appreciation of the excellent services. rendered, by the staff be given to staff 'members.