industry energy predecessor mercury energy founded 1999 ; 17 years ago headquarters newmarket auckland new zealand services electricity distribution natural gas retailing lpg retailing electricity and gas metering revenue nz 1 252 200 000 2013 1 operating income nz 630 500 000 2013 1 profit nz 201 700 000 2013 1 website www.vector.co.nz vector linemen working in henderson vector limited is an electricity and gas distribution company in auckland new zealand . it is the national number one provider of electricity distribution number one provider of electricity and gas metering and number two wholesaler of lpg . it also owns a fibre optic cable network . auckland energy consumer trust owns around three quarters of its shares and had full ownership until 2005 . contents 1 history 1.1 auckland electric power board 1.1.1 auckland energy consumer trust 1.2 mercury energy limited 2 vector limited 2.1 subsequent acquisitions 2.2 sale of wellington electricity network 3 nzier report on the aect 4 electricity distribution 5 references 6 further reading 7 external links history edit auckland electric power board edit under the government reforms introduced by the energy companies act 1992 the auckland electric power board was corporatised and became mercury energy limited a company owned by the auckland energy consumer trust aect . auckland energy consumer trust edit the aect was established along with 29 other energy trusts throughout the country to ensure that the power lines remained in the control of electricity consumers . the aect retained 100 % ownership of vector until 2005 when they agreed to vector s initial public offering or share float of 24.9 % of the shares in vector so it could raise money to buy gas company ngc holdings . vector has since gone on to invest in other businesses too . the result of this share float and a subsequent buy back of shares in 2009 is that the aect holds 75.4 % of vector s shares a controlling interest . the aect has had guardianship of vector on behalf of the auckland community only since 1993 . however the idea of community ownership of auckland s power network goes back much further than that . the auckland electric power board was set up in 1922 as a consumer owned utility . before that electricity distribution was looked after by local councils . even back then the aepb s founders understood the value and importance of electricity supply to aucklanders and this model of guardianship of electricity distribution for the good of the entire community continues today with the aect . mercury energy limited edit when incorporated mercury energy limited owned the distribution business in auckland manukau and papakura and also retailed electricity to customers connected to the network and elsewhere . further government reforms were introduced by the electricity industry reform act 1998 . these reforms prohibited one business from being involved in distribution and generation as well as retail . so the retail business of mercury energy limited was sold to mighty river power a state owned enterprise which continued to use the name as a trading name and in 2016 changed its company name to mercury energy . vector limited edit mercury energy limited changed its name to vector limited and kept its lines business . a flotation on the local stock exchange in 2005 provided funds for further acquisitions and expansion of its fibre optics network subsequent acquisitions edit unitednetworks was bought in 2002 . it was a lines company operating on auckland s north shore and waitakere which included a telecommunications network and auckland s gas network . . this purchase made vector the largest multi utility company in new zealand . ngc holdings gas bought from australian gas light agl . two thirds in 2004 the balance in 2005 . this gas transmission and distribution business was sold in 2016 becoming firstgas . 2 nz windfarms a 19.99 % cornerstone shareholding was bought in 2007 and later increased to 22 percent advanced metering services a joint venture with siemens nz to provide advanced metering technology and services . established 2007 the remaining 50 percent was bought from siemens in 2010 . sale of wellington electricity network edit vector sold its wellington electricity network in 2008 to cheung kong infrastructure holdings limited of hong kong for 785 million . the network was renamed wellington electricity . nzier report on the aect edit in 2006 the new zealand institute of economic research compared trust ownership of vector with four alternatives local council ownership management by a professional trust company handing shares over to beneficiaries local councils and the auckland regional council and transfer of shares to a new regional infrastructure body . on every measure including efficiency and what was best for energy consumers in the trust area the nzier concluded that the current setup is the best option . vector s customers hold 75.1 % of its shares through the auckland energy consumer trust and 24.9 % of its shares are traded on the nzx . an annual dividend of 150 320 is paid to each customer in the trust area . two of vector s directors are trustees of the auckland energy consumer trust . 3 the trust s close relationship with the vector board of directors has been under scrutiny by the media and the new zealand commerce commission during the mid 2000s and some have called for the trust to be disbanded with vector shares instead to be handed over directly to the beneficiaries of the trust . 4 the proposal however gained no general support . 5 electricity distribution edit vector owns and operates the electricity sub transmission and distribution networks across the majority of the auckland region from wellsford in the north to central papakura in the south and over the tamaki strait to waiheke island . the network consists of 18 116 km of lines fifty four percent of which is underground 6 at voltages of 110 kv 33 kv 22 kv 11 kv and 400 v. electricity is taken from transpower s national grid at fourteen grid exit points wellsford silverdale albany wairau road henderson and hepburn road for the northern network and mount roskill hobson street penrose otahuhu pakuranga mangere wiri and takanini for the southern network . due to differing vector groups the only distribution level connection between the northern and southern networks is via a phase shifting transformer between avondale zone substation mount roskill and brickworks zone substation hepburn road . vector network statistics as of 31 march 2015 6 parameter value northern rodney north shore waitakere southern auckland manukau papakura total total system length 9 052 km 9 064 km 18 116 km 110 kv 27 km 47 km 74 km 33 kv 463 km 317 km 777 km 22 kv 172 km 172 km 11 kv 4 259 km 3 020 km 7 314 km low voltage 230 400 v 4 304 km 5 509 km 9 813 km street lighting 165 km 236 km 400 km customer connections 215 543 324 996 540 539 system maximum demand 636 mw 1 122 mw 1 732 mw system electricity delivered 2 706 gwh 5 975 gwh 8 685 gwh in the year to 31 march 2015 the vector distribution network had a normalised system average interruption duration index saidi of 155.3 minutes and a normalised system average interruption frequency index saifi of 1.84 . this level of network reliability means that on average each customer typically experiences a power outage of 90 minutes duration every six months . 6 references edit a b c vector fy2013 annual results . retrieved 2014 06 30 . sale of vector gas limited completed press release . vector limited . 20 april 2016 . about us . auckland energy consumer trust . retrieved 24 october 2015 . o sullivan fran 24 december 2006 . switch off energy trust . the new zealand herald . retrieved 24 october 2015 . mcmannus jenni 7 october 2007 . council investments beyond their mandate . sunday star times . nz herald . a b c edb information disclosure vector year ending 31 march 2015 pdf . 31 august 2015 . retrieved 25 may 2016 . further reading edit king jennifer . sign of service a history of the auckland electric power board . history of the aepb and electricity in auckland in general . external links edit official website v t e nzx 50 companies of new zealand as of september 19 2016 a2 milk company air new zealand anz argosy property auckland international airport chorus coats contact energy ebos fisher & paykel healthcare fletcher building fonterra shareholders fund freightways genesis energy goodman property trust heartland bank infratil kathmandu kiwi property mainfreight mercury energy meridian energy metlifecare metro performance glass nuplex nzx new zealand refining orion health group port of tauranga precinct properties property for industry restaurant brands ryman healthcare scales skycity entertainment sky network television spark stride property summerset tower trade me trustpower vector vista vital healthcare property trust the warehouse westpac xero z energy former nzx 50 companies partial list affco amp apn news & media cavalier diligent corporation fisher & paykel appliances goodman fielder lion nathan michael hill oceanagold pacific edge pgg wrightson pike river coal pumpkin patch rakon skellerup steel & tube telstra tourism holdings v t e electricity companies in new zealand generation contact energy genesis energy mercury energy meridian energy nova energy trustpower king country energy new zealand energy transmission transpower distribution north island centralines counties power eastland network electra horizon energy distribution northpower powerco scanpower the lines company top energy unison networks vector waipa networks wel networks wellington electricity south island alpine energy aurora energy buller electricity electricity ashburton electricity invercargill mainpower marlborough lines nelson electricity network tasman network waitaki orion otagonet joint venture the power company westpower retail contact energy ecotricity electra energy electric kiwi energy direct energy online genesis energy giving energy globug king country energy megaenergy mercury energy meridian energy nova energy opunake hydro p2power paua to the people payless energy powershop pulse energy tiny mighty power trustpower regulation and operation commerce commission electricity authority energy efficiency and conservation authority ministry of business innovation and employment transpower electricity sector in new zealand list of power stations in new zealand retrieved from https en.wikipedia.org w index.php title vector limited & oldid 732163353 categories agent owned companiespower companies of new zealandoil and gas companies of new zealandcompanies based in aucklandhidden categories official website different in wikidata and wikipedia navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to 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