ELECTRIC POWER

Evening Post, Volume CXIII, Issue 118, 20 May 1932, Page 4

ELECTRIC POWER

HUTT BOARD'S YEAR

CHAIRMAN'S iREVI^W

A review of th'e^ pastyyear's. Operations oil the Hutt Valley Electric Power Boaid was given ,by the retiring chairman (Mr. A. Walker) at the annual meeting of the board yesterday..' ..;. .'. ■■■ "Despite.tlie.ecpnpmic, stress and general falling off of revenue," > said My. Walker, "We have made satisfactory progress, and I urge the members of the board to give the utmost-of their time'and thought towards helping our ' engineer .and"general manager to' carry but the work of this, board through' what may* prove an even harder, period.thantha.t just passed." I • During the .past- financial; year, in the capital accountthe board had spent £80U0 4s 9d. The main sub-station• at Meiling was now capable 'of dealing ivith- 12,000 k.v.a\. ..."." : ■ !„;':_■ ; '■■.-.:■■; : •, 'Tlic'.chairman saidhe believed the woiks> carried out during the pasl^ financial year had been, done ejcpeditiously and economically.' The balance-sheet-showed the total income-for the year as -'£103,895 13s lid, and theexperiditure-under revenue account £98,288 6s 2d; .-.sinking- iund and debenture -redemption reserve amounted to ;'£3915 ?s 6d.- ■ -■. ;;; ; v{ v '; '. ~:; : RATE REDUCTION UNLIKELY. .-'■■ "Provision has been made.to provide for depreciation,' in accordance with' Power Board' regulations, leaving a small net balance, actually showing-' that any serious reduction- in rates cannbt>,be; given, considering, that" during the year .the sum of £8579 9s ;lld was allowed af discounts to our consumers, and that no increase m rates was made during the period under review. "Through a wise policy of the board certain reserves have been accumulated to provide for any emergencies that may occur in such .a large undertaking where overhead equipment, sub-stations, and plant are subject to damage through various causes. It appears that some of these reserves will have to be, drawn on for the present, year's operations owing to the falling- off of our revenue. "The: total, additional installations connected during the-year' was 435, making a total of' 10,890 consumers connected to the board's/ Supply at 31st; March, 1932 .. .. .It, is sincerely hoped that ..the-Gov-ernment will make, a reduction in the bulk supply charges so as to enable the bbard to- pass oh reductions to our- consiinieui in-these hard, times." ■ ::'v ' -

Mr.''Walker, concluded with '■ thank's" to all 'those= who had: helped him during, his term.as chairman.- . ,-..-:-.;;.>',