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Statement of service performance
Performance against targets set in the Statement of Corporate Intent for the year ended 31 March 2012 was as
follows: (All dollar amounts are in $’000)
Actual
Target
1. Return on average net assets
5.7%
5.6%
2. Return on equity
Average equity
121,229 100,100
Return on Equity
5.6%
7.7%
Revaluation of Assets
29.3%
0.0%
Gross return
34.9%
7.7%
3. Term debt
40,900 45,500
4. Equity to asset ratio
59% > 40%
5. Domestic price ranking in MED survey
Within upper quartile in MED domestic supply price survey.
To be ranked no higher than 10th out of 45 electricity lines company regions.
Waitomo
19th > 10th
King Country
14th > 10th
6. Dividends
3,560 3,500
7. Reliability
The performance target relating to SAIDI and SAIFI reliability in the Statement of
Corporate Intent was for TLC to not breach the reliability limits as set out in the
Default Price Path Annual Compliance Statement. The audited Default Price Path
Annual Compliance Statement for the year to 31 March 2012 shows that TLC has
not breached the reliability limits.
No more than 10 proven long term voltage complaints
1 < 11
No more than 80 logged voltage “surge” complaints
55 < 80
Completion of 2011/12 line renewal and voltage remedial programme
100% 100%
8. Customer satisfaction
To have at least 80% of customers, who have an opinion, believe that in general
The Lines Company does a good job in servicing its customers
78%
80%
To have at least 90% of customers, who have an opinion, who have contacted
The Lines Company service centre satisfied with how they were served
80%
90%
To increase customer understanding of lines charges and load pricing to at least
60% of those who want to know
69%
60%
Average time to settle complaints less than 20 days *(1)
- < 20 days
Unsettled complaints taking longer than 3 months to settle - no more than 6
5
< 6
Number of focus group meetings - at least 5
7
5
Number of customer clinics - at least 12
19
12
Increase in understanding of demand charges *(2)
-
-
Directors’ Report
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