POWER IN COUNTRY

New Zealand Herald, Volume LXXI, Issue 21807, 23 May 1934, Page 7

POWER IN COUNTRY

FRANKLIN BOARD'S YEAR

LOWER CHARGES EXPECTED; LOAN FOR RETICULATION [iROSI OUR OWN CORRESPONDENT] PUKEKOHE, Tuesday Tho statement that, after a careful consideration of tho accounts and tho estimates of receipts and expenditure, he confidently anticipated further reductions in charges to consumers during the current financial year, was made by tho chairman, Mr. J. Dean, in his report for tho past year at the tontk annual meeting of tho Franklin Power Board, held at Pukekohe to-day. Tho board's revenue for the past year totalled £-15,950, tho report continued. In the previous year tho revenue was £50,186. The decrease was duo to the very substantial reductions in charges mado during the year. It was compensated for by statutory interest reductions amounting to £3258, the limitation of depreciation reserve fund allocations, and other factors. During the year there had been -110 new installations! and 442 additions to existing installations. Units of olectricity sold had increased by 652,566. The depreciation reserve had now reached £25,000, and would contribute £9OO a year to tho revenue account in future by way of interest.

The board had converted its previous loans, totalling £266,400, to a. new. issue at 4J per cent. Tho cost of the conversion operations had been only £75.

Mr. Dean, who has been chairman of the board since its inception, was reelected to that position for the ensuing year. His honorarium was fixed at £IOO, as last year. The board was given permission by the Local Government Loans Board to raise £IO,OOO for reticulation extensions at .£3 17s •6d per cent interest. Tlio term of the loan is to bo 26 years, and sinking fund at the rate of £2 5s per cent per annum is to bo provided. The loan is a further instalment of £75,000 approved by the ratepayers in 1929.

The secretary, Mr. S. P. Day, mentioned that ho had had £5600 of the loan waiting, but in view of the reduction in the interest rate to £3 17s 6d the matter had now to go before the prospective lenders again."

BULK SUPPLY CHARGES CLAIM,FOR EQUALITY MADE (from our own correspondent] PUKEIvOHE, Tuesday Renewed endeavours are being mad© to induce the Government to change its policy of diiferentiation in its charges for electricity to the distributing authorities. The Waitaki Power Board, Oamaru, hat; recommenced the agitation with a letter on the subject to the Prime Minister, Hon. G. W. Forbes, and one to the Minister of Public W arks, the Hon. J. Bitchener. It is circularising other power boards, asking for their support. The circular was received by the Franklin Power Board to-day. It mentioned that the board had received information that a new agreement was contemplated at present with one of tho larger cities. In view of this, the Waitaki Board asked for endorsement of the letter which it sent to eke Prime Minister. A copy of the letter to the Prim© Minister accompanied the circular..The purport was that the Waitaki Board entered a strong protest against the making of new agreements with city authorities for power at' rates lower than those given to rural authorities, as such action, in the opinion of tke board, was contrary to the spirit, of national undertakings. The Franklin Board decided to take t'lici matter up again with the Ministers and members of Parliament representing the board's district.

THAMES VALLEY BOARD SATISFACTORY OPERATIONS i I [from our OWN" correspondent] TE AROHA, Tuesday A letter was received from the Treasury at a meeting of the Thames Valley Electric-Power Board to-day (stating that the conversion af loans totalling £150,000 had been approved. The annual report stated the- position of the- board's affairs was most .satisfactory. Reference was made to reductions in charges made during the year amounting to £10,678. The total cost per unit purchased for the year was 0.978 d. Although tho numbers of units sold was over 8 per cent greater than in the previous year, the total net revenue was £226 less. In spite of this, there was a profit on the board's operations of £1337.. Tho connected load had increased by nearly 2000 kw. during the year, but tho cost of purchased power had increased by only £6OO. Revenue from the sale of electricity amounted to £136,369 gross and £117,090 net. Mr. J. Price, of Matamata, was reelected chairman, and Mrs. C. A* Arthur, T e Aroha, deputy-chairman. PROFIT IN WAITOMO NEW CHAIRMAN ELECTED [by telegraph—own correspondent] TE KUITI, Tuesday The Waitomo Electric-Power Board at its annual meeting yesterday, elected Mr. W. S. Cato, of Te Kuiti, chairman. Mr. Cato has been a member of the board for several years. - The retiring chairman, Mr. W. A. Lee, sttfted in his report that the year's working had resulted in a profit of £IB2B, as against £2063 for the previous year, reductions having been mado in charges to consumers. The sales of electricity were somewhat lower than tlioso of the previous year. The total sales amounted to £17,641, which exceeded the estimated revenue by £3ll.