ALBANY POWER SUPPLY.

New Zealand Herald, Volume LXVI, Issue 20407, 8 November 1929, Page 17

ALBANY POWER SUPPLY.

POSITION OF GUARANTORS. EXTENSION NOW PAYABLE. The guaranteed revenue for the Glen-field-Albany Extension formed the subject of a statement by Mr. J. W. Hayden, chairman of the Waitemata ElectricPower Board, at a public meeting at Albany last evening. Mr. Hayden gave the capital cost of the extension as £5225. The revenue required for the line to be self-supporting, on a basis of 17/, per cent., was £914, and the revenue guaranteed when a canvass was made amounted to £950. 'lhe actual consumption at March 31, 1929. was £605. leaving a deficiency of £353 against guarantees. The position had since greatly improved and for the last six months the extension was self-sup-porting. If the consumption continued ou the same basis for the ensuing halfyear there would be no need to call up any further guarantees on the GlenfieldAlhany Extension after March 31 next, and the consumers would then pay for actual consumption only. This position had been brought about, by 42 of the original guarantors now using more than the amount of the monthly guarantee, and 25 new consumers having been connected with the extension during the past eight- months. Very few of the consumers in the district were now using less than the quantity guaranteed.