Vector's electricity connections up, gas volume dips amid economic slowdown

Vector (NZX:VCT) announced a 1.3% increase in electricity network connections, reaching 630,004 by the end of March 2025, compared to the same period last year. However, new electricity connections decreased by 23.0%, signaling an economic slowdown. Electricity distribution volume saw a slight decrease of 1.5%. The company's gas network connections also grew marginally by 0.3% to 120,644, but new gas connections experienced a significant 30.0% decline, and gas distribution volume dropped by 9.3%. Vector completed the sale of its LPG business, Vector Ongas, on January 31, 2025. SAIDI minutes for normal operations are lower compared to the prior year and are under the annual regulatory threshold.