D.—l.

A new factor introduced for comparative purposes this year is " Units sold per £1 of distribution capital," and appears in Table X. This index figure is computed from the total units sold (section 9 of F.P. 15) divided by the capital outlay shown opposite subsections (c) and (d) of section 15 of F.P. 15, and is one which it is hoped will be of value to supply authorities in general when its purport is fully appreciated. The sales per route-mile of line were 34,550 units, and the gross revenue £215. The units are greater than last year (33,000), and there is an increase in revenue as against £211 last year, due to a general reduction in selling-rates and to load-building campaigns. This increase can also be attributed to a decided improvement in the economic conditions which have prevailed during the past three years. Out of the ninety-three distributing authorities (including Public Works Department, North Island and South Island systems, and excluding Ross Borough), eighty-five showed a profit for the year amounting to £646,911 and eight showed a loss amounting to £92,757. The gross revenue (excluding rates) was £4,823,324, and the general result is a profit for the whole Dominion of £554,154 after paying working-costs (£2,197,770) and capital (interest, sinking fund, and depreciation) charges (£2,071,400) at the rate of 6-25 per cent, on the total capital outlay of £33,181,503. This shows a net profit of 1-67 per cent., as compared with 1-37 per cent, last year. The business on the whole is thus a thoroughly sound and remunerative one as well as supplying a public necessity to 93 per cent, of the population of the Dominion. The following table summarizes the results of the year's operations in connection with electric supply throughout the Dominion, and Tables XI and XII show the financial statistics for each supply authority. It should be noted that the method of compilation and computation adopted for the following table is slightly different to that of years previous to 1933 : —

GROWTH OF LOAD. The total connected load at end of the year under review was 1,342,577 kw., compared with 1,228,814 for 1935, an increase of 113,763 kw., or 9-28 per cent. Statistics pertaining to the increasing use of electric ranges, electric water-heaters, and milkingmachines have been collected and scheduled for some years past, and from the following table will be seen the annual growth which has taken place in each class : —

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— Water. Steam. j Gas. | Oil. I Total. j ; \ ___J ! X. Number of main stations .. • • • • No. 36 1 .. j 4 41 2. Installed capacity (main plant) .. .. Kw. 234,425 750 .. j 228 23o,403 3. Number of standby stations .. •• No. 11 10 6 | 19 45 4. Installed capacity (standby plant) .. .. Kw. 4,186 63,825 1,325 ; 15,627 84,963 5. Number of consumers .. .. No. 352,188 3,075 .. 710 355,973 6 Connected load .. .. .. Kw. 1,332,961 8,732 .. 884 1,342,577 1 Units generated ■■ No. 982,494,278 5,047,783 677,771 1,099,824 989,319,656 s". Units sold to consumers (Table X) . . .. No. 773,597,017 1,788,535 j .. 204,456 775,590.008 9. Percentage of non-productive units •• % 21-25 20J)9 .. ,« 10. Total operative capital (including distribution £ 33,027,924 117,573 .. 36,006 33,181,503 systems and standby plant) 11. Total capital per kilowatt installed (including £ 103-5 93-7 .. 120 IOd-5 distributing sj'stems, &c.) , , k 12. Annual working-costs .. .. .. £ 1,095,196 13,790 .. r pq ' J !?, 13. Annual working-cost per unit under section 8 d. 0-34 1-85 5-b9 0-344 14. Annual capital costs (interest, sinking fund, £ 2,059,211 9,774 .. 2,41o 2,071,400 and depreciation) 15. Annual capital cost per unit under section 8 d. 0-64 1-30 .. ; ~-8o r 16. Annual capital costs as percentage of capital % 6-25 " i JJ.Z „ 1Q J 17. Total annual costs (section 12 plus section 14) £ 3,154,407 23,564 .. , ',247 3,185,21» 18. Total annual cost per unit under section 8 .. d. 0-97 3-15 .. 8-54 0-985 19. Total annual revenue (excluding rates and £ 3,705,597 27,389 .. 6,386 3,739,37^ bulk sales) from consumers 20. Average revenue per unit f under section 8 d. 1-15 3-68 .. 7-51 1-175 21. Net profit (section 19, less section 17) .. £ j 551,190 3,825 | .. 861 .jo4,1o4 22. Ratio working-costs to revenue (section 12 and % 29-4 50-3 j .. 76-0 29-7 section 19) j ! * After deducting revenue derived from bulk sales (Table XI). t From retail sale of electricity (Table XI).

— 1 t~ : i rr — r I .1 p Annual j Electric Annual Water" Annual Annual Year. Consumers. , Increase _ I Rangeg . Inorease . Water- Increase. ; ; Increase. I J I L : 1 ' Number. Per Cent. Number. Per Cent. Number. Per Cent. Number. Per Cent. 1925 .. .. 148,699 .. 1,526 .. .. .. 3,581 1926 192,392 29-3 4,671 205-0 6,654 .. 4,856 35-8 1927 . 228,345 18-7 9,511 104-0 14,160 113-0 6,738 38-8 1928 .. 243,795 6-8 15,766 66-0 21,513 52-0 8,514 26-3 1929 .. 266,306 9-2 20,254 28-5 29,257 36-0 10,161 19-4 1930 .. .. 284,235 6-7 25,997 28-3 37,564 28-5 11,922 17-3 1931 .. 300,809 5-9 29,480 13-2 42,803 13-9 13,656 14-5 1932 .. .. 309,360 2-8 31,973 8-5 45,796 7-1 14,163 3-7 1933 .. 322,997 4-4 33,998 6-4 48,070 5-0 15,913 12-4 1934 .. 334,593 3-6 36,081 6-2 50,272 4-6 16,992 6-8 1935 .. 342,334 2-3 39,730 10-1 53,635 6-7 17,200 1-2 1936 .. .. 355,973 4-0 44,837 12-9 58,864 9-8 18,458 7-4 See Table XV for details for year ended 31st March, 1936.