POWER PROFIT

Waikato Times, Volume 119, Issue 19885, 14 May 1936, Page 11

POWER PROFIT

i CENTRAL BOARD’S YEAR. ! SURPLUS OF £2428. I A nett profit on the year's opera;tions of £242B—arter providing £ls, lsil for interest, £6Bm for sinking fund, £2404 for replacements and re—newals, and £B7O for depreciation re—serve—was announced by the chairman. Mr ’l‘. Hinton. at the annual Imectinp of tho Central \Vaikato Elec—ltric Power Board yesterday. It was stated that HlC' year had proved the busiest for many years and the de—mand for roiirulation extensions and installations had kept. the staff working at high pressure. Comparison of Connectlona. Total connections at March 31, with those of the previous year in paren—theses. were as tollowsz—Lighting. ‘5067 (11562); heating, 3818 (2748); ‘milking motors. 1429 (1310); separa—‘tor motors, 432 (327); industrial and domestic motors. 565 (441); water pumps. 917 (813); water heaters, ‘1472 (1339); electric ranges, 4146 i (3é97).

Sales of electricity amounted to £62,421 'compared with £57,343 for the previous year, an increase 0! £5077. and Mr Hinton said when it was considered that reductions were made in July to the extent of £2775 per annum, and that only a comparatively email amount of revenue was included from the newly reticulated Raglan district. the result must be deemed very satisfactory. The follow—ing table showed the revenue from the sale of electricity for each financial year since supply commenced, and also the number of consumers Donnected to the board's lines at the year end:—

The following loans had bccn raise during the financial year:~l“or gen eral reticulation: April 1, £12,500 a 3} per cent over a period of is years and November 15. £12500 at 35,; pe cent over a period of 2,3 years. Fo Raglan special area: June ‘2O. “1,00 at 3; per ccnt over a pcriod or 2 Years. in the case of these loans as well as practically all the othe lloans of the board, provision had bee made for such annual or half~yeari repayments of principal as would de finitely clear or! the loans during th periods over which they were raised. “As all loans authorised for genera purposes had been raised, the been placed before the ratepayers a pro posal to borrow a further £50,000. to amount to be taken up as required ti meet demands for extensions through out the power district with the exoep tion of tho Raglan special area. Whicl had authorised its own special. loan 0 £22,000, half of which had bee] raised. A poll was taken on Mare! 17, when authority to borrow th< £50,000 was carried by 39-5 to 21,‘ Mr Hinton continued. “I am sure that the result of 95 per cent of thi votes cast being in favour of the loan and the almost total absence of oppoA sition, must have been very pleasing to members as being a definite indication that the policy 01‘ the hoard, ant also the manner in which the polic'J is carried out, has the approval of tilt ratepayers. l Roticuiatlon Extensions. I “The 'most important undertaking 'iiurinr: the year has been the extension lot‘ the board's lines to Raglan, with subsidiary lines to Okcto and the when; Soldiers‘ Settlement. Tc Ultu Landing lioad. and to To Main. Construction work was commenced in June, and supply was given along the Iline as it became possible to liven up each section, ’l‘e Uku first receiving supply on September 27. Up to that time there had not been sum'cient revenue offering to enable the board favourably to consider extendink the lines to To Mata, although the section to Kauroa appeared to be possible. The introduction of electricity into the district, however, had the usual effect of increasing the desire for a supply. and it thus became possible to obtain guarantees for sufficient revenue to justify the line being extended to To .\lata. This portion also of the district is now connected up. an omcial ceremony being held by the people there on March 16. “The district of Raglan has at last obtained its desire to become linked up to the board‘s lines. and tlic people arc in thc fortunate position of living: nhlc to obtain a supply of elec‘ tricity at ilul present low charge-s. it, now heliovcs them to make the full— Psi, possible use of thc supply. if this is doncl ihcrc. is little doubt hut that ihcy will use to the full value 01‘ ‘thcir guarantors, and thus makc it tunneresvsnry for the board to call up paymcnt under the guarantees The ,tntal numlmr of consumers connected to datc in this special area is LUIS. “.\lnch ninrc than average develop—ment has lakcn place during the year in other ports of the power district. This is exemplified by the fart that in addition to ihc 208 consumers con—nected in tho llaglan special area. .1 further 207 wcrc connected in other parts of the power district, making l total of .305 new consumers for tho year, the hu-gcsl total since the your ending~ March :it. 102.3. The numhcr connected during the your cndrd March 31. 19:55, was 211," he said. Reduction in Charges. In July last year further reductions in chnrxcs for electricity had been made amuunlinn~ to £2775. Although icdnccd clnu-gcs had been proved to create an incrcnscd dcmnn-d, in nrllcr in cnconrunc lhc more intensive use of clcctriclty in the home, a special role was dcsiuucd providing that whore .I consilnicr 11nd lighting. hcni~ in; and cli-ctrir rungs, or not lcss than 2 k.w.‘ hc could. if no drsircd. conic. under lhc ruin of: in units pcr month at 3d. so units pcr month at lid. and the haloncc :il id. nil li'~>' .3 pcr crni. in conjunction with this alicrnniivc rnlc. spccinl :iliownnccs hull itccn ur—i‘niijli’d in llclolwr. undcr which up in 1'?) would lu' :iliowcd inwards cost of installation of eiccirir ranges pui» chascd from the board. up to El 105 tor insinllinz water-heater. and up [o‘ iii ins towards service line allcrm‘ lions_ ’i‘hcsc allowances. and the ai< lcniinn drown in them by spcclnl nd—vcriislnrz n‘ialtcr. hart rcsultcd in thew number or cinclric ranges installcd ho— ‘ in»: incrcnsed during the year from £519 to 446. an increase of 97. of,

which 82 had been put in since Octoher last. During the previous year the total number installed was only M. Service During Year. “The year has, generally speaking. been one of satisfactory service, ihough during the past few months the reticulation has been severely Itested by two unusually severe storms with another one experienced more recently," Mr Hinton added. “This board was fortunate enough to escape serious damage to its lines, though there was a considerable amount of dislocation of ‘serVice on each occasion. This dislocation was. without doubt, extremely trying to those con—sumers who had to do without power. even though the period was made as short as possible. I would like to convey to them and to the consumers generally the thanks of the board for the manner in which they assisted the board by their forbearance and courtesy during such trying times." He concluded by expressing appreciation of the work of board members. the executive, and the maintenance staffs.

Revenue 2. consumers. 1992 ~..- 1,223 .. 170 1923 ..v 8.055 .. D73 1921 ..._ 17,845 . . 1.479 1995 .. 23,372 . . 2.201 1926 .. 30.667 . . 2.498 1997 .. 35.519 .. 2.680 1928 .. 38.691 .. 3.015 1929 .. 45,014 .. 3,336 1930 .. 50,058 .. 3.708 1931 ... 53,876 .. 3.922 1932 .. 66,666 .. 4,180 1033 ... 56.887 .. 4,336 1034 .. 56.898 ;.. 4,542 1935 ., 57,343 ., 4.753 1936 .. 62,421 .. 5,250