Vector reports stronger connections: what it means for Vector stock

Published on 10/25/2026 at 02:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Electricity connections rose 1.6 percent in the quarter ended September 30, 2026. Vector stock had 644,577 power customers.

Credit quality and operating scale

Vector received an A- issuer rating upgrade from BBB+ on October 13, 2026.
Electricity customers reached 644,577 in the quarter ended September 30, 2026, versus 634,269 one year earlier.
Vector had a NZD 4.6 billion market capitalization as of October 23, 2026.

VCT, NZVCTE0001S7, Illustration mit AI erstellt.

Vector Limited (ISIN NZVCTE0001S7) reported a 1.6 percent rise in electricity connections for the quarter ended September 30, 2026, according to Zonebourse. The figures show stronger electricity demand alongside weaker gas activity, giving investors a mixed operating signal.

Three dates shaped the story

On October 13, 2026, S&P Global Ratings raised Vector's issuer credit rating to A- from BBB+, citing its regulated operations and balance sheet. On October 21, 2026, Vector reported 644,577 electricity customers, compared with 634,269 one year earlier. On October 23, 2026, Vector closed at NZD 4.64 on the NZX, while the market capitalization stood at NZD 4.6 billion.

What does growth mean for Vector?

The latest operating release recorded 3,478 new electricity connections, up from 3,198 in the comparable quarter. Distributed electricity volume reached 2,491 GWh, versus 2,460 GWh a year earlier, while gas customers declined to 119,706 from 120,465, according to Zonebourse. Electricity demand is therefore expanding while the gas network is contracting.

S&P Global Ratings forecast adjusted EBITDA of NZD 578 million for fiscal year 2027, compared with NZD 524 million for fiscal year 2026. Its forecast EBITDA margin rises from 67.8 percent in fiscal year 2026 to 68.4 percent in fiscal year 2027, while funds from operations to debt moves from 19.8 percent to 18.1 percent, according to S&P Global Ratings. The forecast points to higher earnings with a lower leverage cushion.

Next company dates

Vector's published news calendar lists October 28, 2026, for a Vector Lights event and November 6, 2026, for another Vector Lights event, according to Vector. The investor calendar identifies October as the period for first-quarter operational statistics and February as the period for the half-year report.

Stock stays tied to operating data

Vector's latest figures leave a clear split: electricity connections and volumes improved, while gas customers and gas activity declined. The NZX closing price was NZD 4.64 on October 23, 2026, and the company had a NZD 4.6 billion market capitalization on that date.