Vector stock: Electricity network grows as gas connections decline

Published on 11/11/2026 at 02:13 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Vector stock faces a mixed operating picture after Auckland electricity connections rose while the gas network contracted in the September quarter. Reliability also improved.

Electricity growth offsets gas pressure

Vector's Auckland electricity network added connections and increased distributed volume in the September quarter.
The gas network lost customers and recorded lower connections and distribution volume.
Unplanned reliability minutes fell sharply, although planned outages increased and the results remain preliminary.

VCT, NZVCTE0001S7, Illustration mit AI erstellt.

Vector reported stronger electricity-network growth alongside continued pressure in gas distribution in an operational update released on October 21, 2026. The update covered the three months ended September 30 and was published by BusinessDesk.

Electricity network continues to expand

Vector's Auckland electricity network reached 644,577 connections at September 30, an increase of 1.6 percent from a year earlier. New connections rose 8.8 percent to 3,478, while electricity distributed increased 1.3 percent to 2,491 GWh. Residential electricity volume grew 2.3 percent, compared with 0.2 percent growth in business volume.

Gas network remains under pressure

The company's Auckland gas distribution network moved in the opposite direction. Connections fell 0.6 percent year on year to 119,706, while new connections declined 18.9 percent to 163. The network lost 285 customers during the quarter, and distribution volume fell 2.8 percent to 3.5 PJ as industrial and commercial demand weakened.

Reliability improves despite planned outages

Unplanned SAIDI minutes for the six months ended September 30 fell to 25.0 from 53.9 a year earlier. Vector attributed the improvement to favourable weather, fewer adverse events and reliability initiatives. Planned SAIDI minutes rose to 45.5 from 26.2, although the company said the result remained within the regulatory threshold and was preliminary pending audit.

Vector's Auckland energy networks

Vector is a New Zealand energy company operating Auckland electricity and gas distribution networks and providing energy and communication services. Its electricity business is expanding its customer base and delivered volume, while the gas operation is shrinking in both connections and usage. The company said it serves more than 640,000 residential and commercial customers across New Zealand and is listed on the New Zealand Stock Exchange under ticker VCT.