YEAR'S PROFIT £4580

Chronicle (Levin), 28 April 1947, Page 4

YEAR'S PROFIT £4580

* ey REVIEW OF POWER BOARD'S FINANCES * With a net income totalling £95,763 and expenditure £91,183, the Horowhenua Electric Power Board's finances show a surplus of £4580 for the year ended March 31 last. This is an increase of £84 over the previous year. In reporting this to a meeting of the board this week, the managing-secretary, Mr. R. A. Frederikson, said the annual accounts showed -a very satisfactory position. The increase in saies had more than offset the distribution costs added during the year. Waterheater control 'had contributed to the low cost of power, and when it was extended to the remaining more populated areas the annual saving would go a long way towards meeting increased distribution charges. "With rationing in force since 1941, one has become accustomed to take power restrictions as part of the normal routine," continued Mr. Frederikson. "However, with the promase of afci addition of 120,000 K.W. generating plant this year, the position should be restored to- normal before the end. of the year. The danger is that this addition will be fully absorbed before Maraetai is ready for operation, in which case a period of rationing will be necessary again in 1949 or 1950. "The year has shown considerable progress in.extending lines to the more sparsely populated districts, and further extensions are in view for the eoming year. Building operations have created a demand for additional connections to existing mains throughout the district, particularly in the Levin and southern . area. Many applications for ranges and waterheaters have been- held over on account of power shortage, so that with the prospect of more power available the coming year promises to be one of even still - greater progress. The x expenditure in this direction has been upwards of £16,000. Meters purchased and imstalled during the year cost £4,241." ■ - ■