SMALL SURPLUS POWER BOARD REPORT

Gisborne Herald, Volume LXVI, Issue 20079, 27 October 1939, Page 8

SMALL SURPLUS

POWER BOARD REPORT

REVIEW OF HALF-YEAR INCREASING REVENUE LOW PER-UNIT RETURN The Poverty Bay Electric-Power Board to-day received from its man-aging-secretary, Mr. R. P. Baigent, a review of the first half of the current financial year in which a surplus of £270 was shown, compared with a deficit of £1293 for the first half of 1938-39. i The report gave particulars of electricity sales for the half-year as follows, the corresponding figures for last year being included for comparison:—Lighting, £15,781 (1938-39. £15,295); heating and cooking, £13,025 (£11,537); water-heating, £4344 (£3414); power, £6413 (£6493): total for the half-year, £40,163 (£36,739).

Sales of units for the half-year totalled 8,989,957, as against 7,580,777, an increase of 1,409,180 units. The percentage increase was 18.59, and the average revenue per unit sold was 1.072 d, a' decrease of ,091 d by comparison with the figure for the first half of last financial year. The total revenue for the half-year was £41.001, as against £37,396 for 1938-39. Expenditure totalled £40,731, the principal items being £11,576 for power from Tuai, £2270 cost of generation at the power station, £6292 distribution costs, £3957 administration costs, and £16,636 capital charges. The surplus estimated for the half-year was shown at £270.

In moving' the adoption of the report, the chairman, Mr. F. R. Ball, stated that the actual surplus would be slightly larger than the figures shown in the return. The report was adopted.