POWER BOARD’S YEAR

Wairarapa Times-Age, 28 May 1942, Page 4

POWER BOARD’S YEAR

PROFIT OF £6165 RECORDED SERVICE IN WAIRARAPA. CHAIRMAN REVIEWS POSITION. ("Times-Age” Special.) “We can consider ourselves fortunate that during the second year of this world war, we were able to show a further improvement in our financial position, and generally speaking, to continue to render to the consumers that high standard of service which is such an essential part of an electric supply undertaking,” stated Mr A. Campbell Pearce, chairman of the Wairarapa Electric Power Board, at the annual meeting of the board today. “The various restrictions which were in force, and the difficulties ' which existed in connection with the supply of materials created many difficulties on the administration side, and the position gradually deteriorated during the year, especially after the advent of Japan into the war,” he said. “This difficulty in obtaining essential materials, and the policy of the Government in restricting new work so as to conserve existing stocks, limited new work, but we were able to carry out a fair amount of very necessary reconstruction work, and thus further consolidate the existing reticulation. The extension of daylight saving and the limitation of power supply did, of j course, curtail our revenue. We were, however, able to show an increase in revenue, apd a satisfactory profit on the year’s operations. This profit amounted to £6165 10s lOd and is arrived at as follows:—Receipts, sales of electricity, £Bl,lBO 6s lid; sundry, £561 4s 3d; net profit trading, £1607 5s 4d; interest, £557 14s; total, £83,906 10s 6d. Payments: Cost of power, £26,534 15s Id; generation and distribution, £12,385 15s; interest, £14,914 7s sd; repayment loans, £8698 0s 2d; depreciation and replacements, £5397 ss; general, £9BlO 17s; total, £77,740 19s 8d; profit for year, £6165 10s lOd. Out of this profit, there has already been expended on reticulation and reconstruction work an amount of £3640 6s 9d. It will probably interest the board members and the public to know that every £1 of revenue received is expended as follows: On cost of power, 6s 4d; generating expenses, 3d; distribution and general maintenanse, 2s 8d; salaries, Is 3d; other administration charges, Is 2d; depreciation and replacements, Is 3d; interest and loan repayment, 5s 8d; new work out of revenue, lOd; profit, 7d. INCREASED CAPACITY. “During the year,” said Mr Pearce, “the new sub-station at Moroa was completed and the southern part of our district is now served from that point. In addition to other advantages, this has increased the transformer capacity of the Public Works Supply from 3000 k.v.a. to 4500 k.v.a. Arrangements have been made by the Public Works Department to further increase the transformer capacity at the Waingawa Sub-station by a further 1500 k.v.a. When this is completed, we shall have a total capacity of 6000 k.v.a. compared with 3000 k.v.a. twelve months ago. The position then will be quite satisfactory. After a considerable amount of negotiation, the new contract with the Public Works Department was completed. Although there are certain provisions in the new contract which do not meet with our approval, these are not likely to cause any particular concern during the period of the contract, and every effort was made to secure the position for future contracts. I am glad that the board was able, during the year, to introduce a staff superannuation scheme. In doing so, it has met a moral responsibility .which will be of benefit to the board as well as the staff. CONSUMERS’ ASSISTANCE. f “I wish to express appreciation to those consumers concerned, for the helpful manner in which they accepted the reduction in hours of service to water heaters, Neon signs and street lighting, and to the consumers generally for the manner in which they economised, and thus made it possible for the board to keep within the limit of load set by the Electricity Controller,” said Mr Pearce. “I again have pleasure in drawing attention to the reasonable and helpful manner in which Mr Kissell has carried out his duties as Electricity Controller. He has co-operated in every way possible, and with a minimum of interference. The changing and unusual conditions under which we have been operating, have made extra demands upon the executive officers and the staff. It' is during such periods that the knowledge and experience gained over a long period of years is of special value. I wish to congratulate the secretarymanager (Mr G. Brown) on the results shown, and to specially thank him, the engineer (Mr H. B. Keenan), and the staff, for the time and close attention given to their duties during the year. COMING YEAR’S PROSPECTS. “Many of the difficulties which we expected would have to be dealt with last year did not develop to the extent 1 anticipated,” he said. “The indications are, however, that' we will feel the full effect of them this year. Power restrictions, lighting restrictions, import restrictions, petrol restrictions, new work restrictions, depletion of staff—each of these different factors produces its own problems. Our financial position is, however, sound; we have made reasonable provision for most contingencies, and unless the general position deteriorates to an extent not at present anticipated, we should be able to meet these difficul-' ties, and at the same time prepare and provide to do our share in solving the many new problems which will require' attention in the post-war period. I very much appreciate the support and co-operation which I, personally, have I received from the board members. To a large extent, our course during the year was dictated by circumstances brought about by the war, and over which we had no control. We have, j however, a very responsible duty to, the consumers, the ratepayers, and to the public, in securing and preserving as far as possible the financial stability of this large and important undertaking. The keen interest and close attention to duty shown by the board members has helped me considerably in my work, and has been of special value to the district during a year when many unusual problems had to be dealt with.”