WAIPORI POWER.

Otago Witness, Issue 3885, 28 August 1928, Page 17

WAIPORI POWER.

SOME STRIKING FIGURES. The Electric Department’s revenue still continues to expand at a rapid rate, the increase for the past year amounting to £16,940. Owing to the dry season and the necessity of buying water from the miners the sum of £2424 was expended for this purpose up Jo March 31, but, notwithstanding this, the working expenses have been reduced by £632. Interest charges are greater by £3680, consequent on the increased loans, and renewal charges are greater by £1564; while the allowance for depreciation is increased by £9462. These items have tiie effect of leaving ar. Increase in the net profit of t 2865. This being the twenty-first annual balance sheet of the Electric Department, it is : fitting to record some of its financial ‘results in its comparatively short life. Its total ■ net' profits have amounted to ’£260,352; arid out of this £132,136 has 'beefi paid to the Municipal Department in relief of rates; while practically the whole of the balance has been expended in extensions. The department has also contributed £32,000 towards the Town Hall building fund. Notwithstanding this, its internal finances have not been neglected, and there is over £200,000 standing to the credit of its renewal fund and sipking fund accounts. . Add to these figures the saving to consumers that has been effected, especially by the large users of power, and it will be realised that the Electric Department has been a valuable asset not only to the City Corporation but also to the community as a whole.