Four-monthly report to the Minister and Annual Corporate Plan progress report

The Electricity Authority Te Mana Hiko has published its Four-monthly report to the Minister for Energy and Annual Corporate Plan progress report. These provide a summary of our performance from 1 July to 31 October 2023.

The Authority focused on projects to make sure the transition to an electrified future is as efficient as possible, while maintaining energy security, system adaptability and affordability for consumers.

Highlights for this reporting period include that:

• We continued to deliver against the Minister’s Letter of Expectations 2023/24 and our Annual Corporate Plan 2023/24, with 20 out of 23 activity areas on track. We expect to achieve all 23 activity areas by the end of 2023/24.
• We published a two-year indicative work programme for distribution reform with our key projects and a prioritisation framework, so that industry can understand when to expect regulatory change proposals.
• We trialled a different approach to broaden the reach of our Consumer Care Guidelines consultation and encouraged electricity consumers to have their say. This successfully attracted over 1,000 submissions.
• We published an issues paper on distribution pricing reform to get sector feedback on key regulatory issues, including the impacts of the uptake of electric vehicles and electric vehicle charging.
• Our Board changed with Anna Kominik and Cristiano Marantes being appointed as Board Chair and Board member respectively.

Financially, the Authority was tightly managed. Actual expenditure was marginally higher than budgeted for the year-to-date, reflecting increased pressures and the need to deliver more at a faster pace.