Generation
We had a difficult year in generation with the
Matawai project subject to delay and dispute.
New resource consents have now been issued
and a screen cleaner installed at Matawai so we
are confident about the output levels from this
scheme in the future. Without the screen cleaner,
the scheme was constrained due to debris build up
during times of high flow.
Mangapehi hydro scheme continues to operate as
expected.
Speedys Road hydro scheme was commissioned
in 2011; it had been delayed while the station
was fine tuned. However, once up and running it
was evident that the fine tuning had resulted in
increased output. The future cashflows from this
scheme, which will result in increased distributions
to our customers, give the scheme a value of
around three million dollars more than its cost.
Our partnership with the local landowner has
proved very beneficial and we are proud of the low
environmental impact of the scheme.
Inlet
Outlet
FCL
Our external metering arm continues to be
profitable and is currently providing standard and
Time of Use meters to customers across the North
Island. While Smart Meters will eventually replace
our assets, the projected impact on revenue has not
occurred yet and our current revenue is still strong.
We have structured the depreciation so that the
overall impact on our surplus will be minimised. The
cashflow from this business will be used to partly
finance our own Smart Meter network rollout.
SmartCo
We have continued our membership of SmartCo
and this organisation has grown to include over
15 members. SmartCo is a coalition of network
companies looking for the most economic way to
roll out Smart Meters across New Zealand.
The face of this weir will change with the installation of a screen cleaner.
part of the pricing process, the opportunity for
customers with Time of Use meters to “opt back” to
the appropriate profile. This opt back provision, or
period of grace, was also offered to customers who
wanted TLC to install a TOU meter so they could
manage their load. Basically, the provision meant
that the meter calculated load was not compulsory
for most of our customers and this gives our
customers time to get used to the new technology
and gives our staff time to help them manage their
load level to that which they can afford.
The new Temporary Accommodation Profile
includes holiday homes with a higher consumption
over the peak periods than an average home. The
recorded loads of the remaining holiday homes
were much closer to those of an average home,
and rather than adopt the Sapere recommendation
we have set those standard loads at 2.5 kW for
Ohakune and 2.2 kW elsewhere.
In calculating the load from Time of Use meters
we needed to trim some of the data to avoid the
possibility that load which we ripple control (such
as water cylinders) was being counted. It was
drawn to our attention that this was resulting
in the load measured by the load meters being
lower than the load used for putting together the
profiles. We have calculated the effect of this and,
as part of our load calculation rules, we introduced
a correction.
The correction ensures equality between
customers charged on a TOU meter and customers
charged on the profile. The correction will not be
necessary when the new Load Meters are installed
as these meters will look at the exact data from
when we are load controlling.
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