WAITEMATA POWER

New Zealand Herald, Volume LXXIII, Issue 22399, 21 April 1936, Page 11

WAITEMATA POWER

FINANCES OF BOARD INCREASED REVENUE LARGE GROWTH IN LOAD An increase of £6OBB in the revenue of the Waitemata Electric-Power Board for the past financial year was recorded in the report presented by the manager, Mr. A. Main, at a meeting of the board yesterday. "The operations of the board for the twelve months ended March 31, 1036. exceeded all expectations." stated Mr. Main in his report. "During that period 810 new consumers, 441 electric ranges, 264 water-heaters, 120 milking motors, and 172 industrial motors were connected to the board's system Altogether nearly 1000 large energyusing devices were installed, and I venture to say that, comparatively speaking, this growth of load was a Dominion record. In three years the percentage of ranges- installed to connected consumers has risen from 12.9 on 9079 consumers to 18.8 on 11,106 consumers."

Mr. Main added that 2,401,259 more units had been sold to consumers last year, showing definitely that more electricity was being used as the unit price decreased. The total gross sales of current for the year amounted to £104,638, as against £98,049 for the year ended March 31, 1935, an increase of £6588. The discount allowed to consumers totalled £24,310, compared with £20,072 in 1935, an increase of £4238. Dealing with the income and expenditure account, Mr. Main reported that it showed a net profit of £344 after full provision had been made for payments to sinking and depreciation funds.

The estimates showed a credit balance of £l3O at March 31, 1937. Ihey provided for an 8 per cent increase in revenue of £BSOO gross, but this increase was offset by increased power purchases, discounts, and sinking fund and depreciation payments, together with the extra provision that had to be made annually for ever-increasing maintenance. The estimated expenditure of £114,438 included £32,800 for the purchase of bulk power, and £27,000 for discount to consumers. The principal item of revenue was £118,138 from sales of current.