Powerco's final Annual Delivery Report released
Powerco’s Annual Delivery Report is now available here on the website for customers to read.
The report details the final year of Powerco’s $1.5 billion Customised Price-quality Path (CPP), a five-year investment programme to connect communities now and in the future.
CPP Year Five (1 April 2022 to 31 March 2023) saw the completion of major projects, as well as pole and line renewals, and technology upgrades throughout the communities Powerco serves.
In the report, Powerco Chair John Loughlin thanks customers and communities for their patience and understanding throughout the delivery of the works programme.
“We couldn’t have done this without your support. While our five-year investment programme has come to an end, you can be secure in the knowledge that we will continue to actively invest in our network, applying the delivery capability built through the CPP to provide you reliable power to enable your future energy choices,” John Loughlin says.
Powerco Chief Executive James Kilty says while the CPP works programme has greatly improved the electricity network, the most important strategic benefit is the capability it has given the company to meet the urgent need to support communities to mitigate and adapt to climate change.
“In Aotearoa, thanks to our renewable electricity system, this means electricity increasing from ~28% of the energy mix, to ~65% by 2050 – a massive step up. It means electrifying major parts of our economy, and doing so affordably and ensuring the resulting system is resilient to changing climate patterns.
“Through the CPP programme, Powerco has grown an ecosystem of employees, advisors, and partners who have proven that, collectively, they can innovate, learn, and adapt to safely deliver nearly three-times the amount of work that was being undertaken prior to the CPP programme.
“Our workload will only increase from here. And this proven step up in delivery, innovation and muscle means I can say with confidence that Powerco is ready, willing and able to deliver an affordable, resilient low carbon future,” James Kilty says.
Some of the work from Year Five of Powerco’s CPP delivery:
- 4,901 poles replaced
- 144km of overhead lines replaced
- 16,677 tree sites managed
- $828m spent on network renewal and growth during the past five years
- Lights kept on for customers 99.94% of the time
The CPP programme was designed to deliver a safe, reliable and resilient electricity network, support growth in the communities Powerco serves, and evolve the network for the future.
More information about Powerco’s CPP projects and initiatives is here.