ELECTRIC DEVELOPMENT.

New Zealand Herald, Volume LXIII, Issue 19412, 21 August 1926, Page 10

ELECTRIC DEVELOPMENT.

A passage in . the Public. Works Statement shows the dimensions already reached by New Zealand electric power'development, schemes and the' extensions inevitable in the next "few years. .At March '3l last the capital expenditure was £5,134,000. At March 31, 1916, the first year of complete supply, - it was £362,000. In the same time the revenue has grown from £Bsiß to £287,942. Moreover, present commitments at Arapuni and Waikaremoana, with the need to increase the South Island's, output, will; require expenditure at the rate of £1,000,000 a year for the next four years. After that' time, the Minister' believes there should be * a diminished rate of outlay, though capital expenditure must continue for a long time to dome. His view appears to be that with this outlay of money by the State, and the corresponding expenditure required by distributing authorities and consumers before current can be utilised; the available capital will be . drawn upon just as heavily as is justifiable for the one purpose. The position really is perfectly simple. It is not conceivable that projects as great as those in hand could be carried to a conclusion without heavy capitalisation. Each of them . has been heartily approved. They have been embarked upon after thorough investigation from every point of The country, understanding their implications, is perfectly-content to accept responsibility for the financial operations involved. There is serene confidence that the outcome will justify the undertakings. Therefore, though £1,000,000 a year for the next four years seems a great sum to be apportioned for one purpose," the prosthe expenditure can be .contemplated. with complete, equanimity As for the future beyond that time, though the Minister's suggestion of a moderating process is worth remembering, it should be realised also that the experience gained meantime may well provide a safe guide for decision and action then. Hydro-electric development, since it began, has been, a process of <■ rapid continuous growth. The* Minister implies that the climax is "at hand. It may be, but completion of the works now under way is the chief consideration at present. There will be time when that is. done for stocktaking and determination : <>f the future*..