Vector’s focus on new technology to benefit AECT beneficiaries

Vector is making good progress developing new opportunities for growth which will benefit AECT beneficiaries over the long term says Auckland Energy Consumer Trust, the independent consumer trust and majority owner of infrastructure group Vector.

Commenting on Vector’s financial results for the half year to 31 December 2015, AECT Chairman William Cairns says it was pleasing to see Vector announce a strong result which will benefit AECT beneficiaries when the Trust pays its 2016 dividend later in the year.

“It is pleasing to see Vector’s earnings rise and strong cost discipline across the organisation, particularly in the regulated businesses.

Mr Cairns said Vector had been focused on developing growth opportunities and it was positive to see the company gain accreditation to provide metering services to energy retailers in Australia as well as entry into the provision of electric vehicle charging infrastructure in Auckland with support of the AECT.

“Vector’s investment in smart meter technologies, batteries and solar underpin beneficiaries’ dividend in the long term as technology continues to change the energy industry.

“The Trust is very supportive of Vector's early adoption of new technology such as solar and battery solutions and electric vehicle charging. Vector is one of the global leaders in embracing these technologies and using them to offer solutions to customers,” he said.

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