ELECTRICITY SALES.

Manawatu Herald, Volume XLVIII, Issue 3707, 22 October 1927, Page 2

ELECTRICITY SALES.

FIGURES FOR' THE HALF-YEAR.

The Horowhenua Electric Power Board had before it on Tuesday a statement of income ajid expenditure for the half-year ended September 30th. The particulars were as under:—

Totals £17,335 £20,060 With regard to the expenditure for the previous year (the treasurer stated) the figures are not quite so accurate for comparison with the current year, because last year a fair proportion of interest was paid out of loan moneys. The figures, however, are ris follows: — EXPENDITURE.

ESTIMATED AND ACTUAL FIGURES. A rteurn has also been pi*epared showing how the income and expenditure for the first half of the financial year compare with the estimates which were framed at the beginning of the year. Taking the income side the following remarks . apply:— ■ Lighting. —The first half is The best half of the year for returns from lighting accounts. Fortunately the income for the first half is well in advance of half the estimated amount. It is anticipated that the current six months will not be so good. The effect of the Summer Time Act is also an unknown quantity, so far as lighting returns are concerned. It is, however, to be expected that there will be a loss of revenue —whether large oi^ small the future will disclose. There is a measure of protection to the Board in the minimum charge per month, for Which all consumers are liable Total for lighting for period, £7,653; corresponding period for 1926, £6,720. Heating.—Estimated at £4OOO. The half-year’s returns show £2,456, and the prospects are the estimates will be exceeded. Same period last year (1926), £1695. Power’. —Estimated at £14,600. Returns to 30th-September, £6368. The best half of the year is to come. Income same period 1926, £5883.

Waterheaters. —Estimated £2300. Return for first half, £1297. Incomefsame period last year was £994.

Street Lighting.—Was estimated

at £I3OO. Income to 30th September, £640. Same period for 1926, £6OB.

Meter Rents. —Estimated to produce £BOOO, actual income £869. The meter rents are practically ended. In the southern part of the district all these rents' have now been collected and the charge will cease; In the northern part of the district there is still one month’s rent to collect before wiping the slate so far as meter rent charges are concerned.

EXPENDITURE.

It will be seen that the total expenditure for the year was £39,420. For the first half of the year £19,594 has been accounted for.

Interest, Sinking Fund and Principal Repayments:—In round figures we have to provide £12,000 for our loans up to £IBO,OOO. To the 30th September last the liability stands at £5992. The new loan of £IO,OOO recently raised .will increase the expenditure under this head. ;

Electricity Purchased. —In the estimates the sum of £15,500 was put down for the year. The first half of the year shows a total expenditure of £7528, so that it seems very probable that on the whole year the estimates will be exceeded. This should, however, indicate that the returns from electricity sales will likewise increase. Expended for electricity same period 1926, £6,345. '

INCOME. £ s d Electricity 18,413 16 9 Meter rents 869 4 0 Penalties 131 17 11 Cottage rents, tradin or account profits and sundries 351 14 4 Interest on advances 293 14 0 Total £20,060 7 0 EXPENDITURE. Electricity purehasel 7,528 8 1 Working expenses Capital Charges— Interest and Sinking 5,073 7 5 Fund 5,992 1 0 Depreciation reserve 1,000 0 0 Total £19,593 16 6 The figures therefore show a credit balance on the half year’s working of £406 10s fid. As compared with the corresponding period of 1926, the position is as under: — INCOME. 1926 1927 Receipts for electricity £15,900 18,414 Meter rents 775 869 Penalties 61 132 All other receipts 599 645

1926 1927 Electricity purchased £6,345 7,528 Working expenses 4,061 5,073 Capital charges 3,536 5,992 Depreciation reserve 1,000 1,000 Totals £14,942 £19,593