DOCSLIB.ORG

IT HAPPENS... Annual Report 2014

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
IT HAPPENS... Annual Report 2014 IT HAPPENS... Annual Report 2014 …AND OUR RELIABILITY RECORD GETS SHREDDED! It’s been an eventful twelve months. Headline-making storms and earthquakes ripped through the Marlborough region on more than one occasion and – in comparison with last year – parts of our network really got slammed. Reduced reliability statistics tell part of the story, but challenging events such as these also serve to demonstrate our overall resilience and ability to perform for our customers and region in the face of adversity. They show what we’re really made of. Marlborough Lines Limited Annual Report 2014 1 CONTENTS About Marlborough Lines 4 Our ownership and areas of operation Performance overview 6 Our key financial measures were steady Performance overview 8 Parent company performance overview against key targets Our mission 10 Working to exceed customer expectations – the achievements Chairman’s report 12 Taking the long-term view Managing Director’s report 14 Investing to future proof assets Customer Q&A The answers to some of our customers’ 16 most frequently asked questions 2 Marlborough Lines Limited Annual Report 2014 About this report The real value of a resilient network This 2014 Annual Report summarises Working to reduce lost supply minutes Marlborough Lines’ operations, activities 18 and financial position as at 31 March 2014. 19 Our network 30 Contracting Marlborough Lines Limited is the Parent 32 Our people company of the Marlborough Lines Group of 38 Safety companies. In this report, we have detailed as 41 Community appropriate, numbers and tables for the financial 44 Environment indicators of both the Parent and Group, and where necessary, descriptions of the activities of the individual entities comprising investments Senior management within the Group. Meet the decision makers and people References in this report to a ‘year’ means the responsible for our operations calendar and financial year ended 31 March 2014 50 unless otherwise stated. All dollar figures are expressed in New Zealand currency unless otherwise stated. The Company undertakes only a small print Regulation run of the Annual Report using materials from The implications of complex and confusing compliance sustainable forest production (see inside back 52 cover). We encourage readers and stakeholders to access the electronic (PDF) version which can be downloaded from our website www.marlboroughlines.co.nz. Review of financial statements 54 Profitability – behind the numbers Report objectives This report meets the New Zealand compliance and legislative requirements of the Companies Act, The Financial Reporting Act and the Energy Review of investments Companies Act, whilst also providing easy to read A network-centric strategy information on Marlborough Lines’ aspirations 59 and performance for 2014 – the uncontrollable factors which affect our performance, and our goals for the 2015 year. The industry and regulatory environment in which we operate is Statutory information complex and for that reason we have provided for Directors, governance, disclosures and financial statements our customers an outline of our position, activities 63 and attributes in the supply chain for electricity (see page 17). Marlborough Lines Limited Annual Report 2014 3 WHO WE ARE WE ARE ELECTRICITY NETWORK SPECIALISTS We are an electricity The Group Supply to Marlborough then radiates network owner/operator • 50% interest in Nelson out to a number of very isolated rural areas including the Marlborough delivering electricity to Electricity Limited • 51% share in the OtagoNet Sounds, Molesworth Station (New some 24,500 customers Joint Venture Zealand’s largest farm at the top of the in the Marlborough • 13.9% of the shares in Horizon Awatere Valley), and the southern region of New Zealand. Energy Distribution Limited. Marlborough coast; an area bordered by the Pacific Ocean on one side and Marlborough Lines Group has a 50% the seaward and inland Kaikoura Outside Marlborough, other interest in Nelson Electricity Limited mountains on the other. network companies in which we (the owner of the electricity network have substantial investments supply supply in the central Nelson city The Marlborough region has become a further 48,600 customers in the area), and a 51% share in the OtagoNet famous for wine production and Nelson, Otago and Bay of Plenty Joint Venture (OtagoNet supplies currently produces about 77% of regions of New Zealand. electricity to the greater Otago area). New Zealand’s wine volume . It is also Between them, these two entities a significant exporter of forestry and Our investment activities also aquaculture products. include electricity contracting supply electricity to approximately services (where we employ about 23,900 customers. The Group also While parts of our region have a 180 people) in the Marlborough, holds 13.9% of the shares in Horizon low population density and cover Otago and Southland regions. Energy – the owner of the electricity some very rugged terrain, the network which supplies a further Company traditionally maintains a Our contracting divisions undertake 24,700 customers in the Bay of Plenty. very high level of network reliability. construction and maintenance of the We are recognised as a leader in the electricity network assets that deliver Beyond the Marlborough region entities in which Marlborough Lines operation and maintenance of rural electricity to customers from the electricity networks. National Grid. has a significant financial interest: • Supply a total of around 48,600 Vital statistics customers While parts of our Parent company • Deliver 1,128GWh of electricity • Have a peak load of 175MW region have a low • Marlborough Lines Limited • Use 7,024km of lines shareholding comprises 28m population density • Have a total revenue of $159.5m $1 .00 shares issued, fully paid • Employ 400 staff. up and held by the Marlborough and cover some very Electric Power Trust Marlborough Lines is based in rugged terrain, the • Annual revenue of $53.878m Blenheim, a town with an enviable • Some 24,500 network connections reputation for high sunshine hours. Company traditionally • An area for network supply We take our electricity supply from maintains a very covering 11,330km2 the Transpower grid via three circuits • Network of lines and cables to a single point of supply in the high level of network in excess of 3,350km Blenheim suburb of Springlands. reliability. • 129 Blenheim-based staff. 4 Marlborough Lines Limited Annual Report 2014 ABOUT US Marlborough Lines investment ownership structure TRUST BENEFICIARIES Marlborough customers connected to network MARLBOROUGH ELECTRIC POWER TRUST The Power Electricity PARENT MARLBOROUGH LINES LIMITED Company Limited Invercargill Limited COMPANIES INVESTMENT Southern Lines Last Tango Limited Pylon Limited HOLDING Limited COMPANIES 13 .9% 50% 51% 24 .5% 24 .5% share share share share share Horizon Energy Nelson Electricity Otago Power Services Limited OtagoNet (Joint Venture) INVESTMENTS Distribution limited Limited (Contractor) Listed Electricity • 5 Directors • 4 Members OtagoNet • 4 Directors Network Company • 4 Staff Governance Committee • Marlborough Lines Management • 9 Staff • 90 Staff • PowerNet Admin Management • Marlborough Lines Engineering Management NELSON Marlborough Lines jointly owns Nelson Electricity Limited with Network Tasman Limited . Both companies own 50% . MARLBOROUGH SOUNDS Our supply network extends into a number of very isolated areas (including the Marlborough Sounds) that pose unique challenges for electricity supply . BLENHEIM Unlike many other regional networks, the Company has a single point of supply (in Blenheim) with an extensive sub-transmission system and zone substations . Horizon Energy Network MARLBOROUGH Marlborough The Company operates Lines Limited (the Parent significant contracting company) is based at Blenheim entities in both the in the Marlborough region . Marlborough and Otago regions. Nelson Electricity Network Nelson Blenheim Marlborough Lines Network OtagoNet Network Dunedin Gore Balclutha Marlborough Lines Limited Annual Report 2014 5 PERFORMANCE OVERVIEW PERFORMANCE OVERVIEW STEADYSOUND KEYKEY MEASURES… $54.228m $9.153m $22.505m Group total revenue (up 5.8%) Group surplus after Group earnings before taxation (down 19%). interest, tax and depreciation Network revenue increased Page 54 EBITDA (down 6%). following an increase in line Page 7 charges of 9.5% from 1 April and a 2.08% decrease in energy volume. Pages 7 & 9 $20.623m $9.172m $1.700m Capital and maintenance Total discounts, inclusive Total dividend paid to the expenditure to increase capacity of GST, paid to Marlborough Marlborough Electric Power and improve reliability customers, an increase of Trust for distribution 11.8% (an average customer to consumers An increase of 1.1% from last year. received $221.84) This investment and that of Each qualifying network previous years is reflected in an Combined discount and Trust connection received $50. increased reliability of supply distribution for the ‘average’ Page 16 excluding significant nature events. customer defined by the Page 22 MBIE was $271.84. Page 16 $7.375m -2.08% 24,546 Total cash flows received from Decrease in the volume Total Marlborough network investments in Nelson, Otago of energy traded over the connections (up 0.1%) and Horizon (down 7.6%) Marlborough network This low rate of growth is a This is a $45k decrease on last This reflects a relatively mild contrast to previous years and year, and represents a 6.73% gross winter and lower
Load more

Recommended publications
  • Electricity Distributors' Performance from 2008 to 2011
    ISBN no. 978-1-869453-02-2 Project no. 14.20/13107 Public version Electricity distributors’ performance from 2008 to 2011 Date: 29 January 2013 2 Chapter 1 Introduction 4 Helping customers understand how their electricity distributor is performing 4 We have focused on some key areas of performance 4 We use public information to give an overview of distributors’ performance 5 Structure of this report 5 We would like to hear how useful you found this report 5 Chapter 2 Overview of New Zealand’s electricity industry 6 The main parts of the electricity industry supply chain 6 Key features of the New Zealand electricity distribution sector 7 Chapter 3 Our role in the electricity industry 11 How we regulate electricity distributors in New Zealand 11 Chapter 4 Overview of industry performance 14 Prices, revenue and demand 16 How reliable is electricity distribution in New Zealand? 25 Expenditure 28 3 On 5 February 2013 we made some corrections to the paper. The table below summarises the changes. Distributor Change Buller corrected information in Table 7.1 Electricity Invercargill corrected information in Table 13.1; replaced $7.5m with $1m in commentary under Figure 13.3 MainPower corrected information in Table 16.1 Orion corrected information in Table 22.1; replaced ‘Electra’ with ‘Orion’ in notes to Figures 22.13 and 22.14 OtagoNet corrected information in Table 23.1 Powerco corrected information in Table 24.1 The Power Company corrected information in Table 25.1 Vector corrected information in Table 29.1; added note under Figure 29.1; corrected Figure 29.17 WEL Networks corrected information in Table 31.1 Wellington corrected wording above Figure 32.17 Westpower corrected information in Table 33.1 Introduction 4 Chapter 1 Introduction Helping customers understand how their electricity distributor is performing We have written this report primarily for customers of electricity distribution services, by which we mean people who have, and pay for, a connection to an electricity distribution network.1 This includes both households and businesses.
    [Show full text]
  • Attendee Conference Pack
    Wind Energy Conference 2021 Rising to the Challenge 12 May 2021, InterContinental Hotel, Wellington, New Zealand Programme Joseph, aged 9 We would like to thank our sponsors for their support 2021 Wind Energy Conference – 12th May 2021 Wind Energy Conference Programme 12 May 2021 InterContinental, Wellington Rising to the Challenge Welcome and Minister’s The energy sector and renewables Presentation ▪ Hon Dr Megan Woods, Minister of Energy and Resources 8.30 – 9.00 Session 1 Facilitator: Dr Christina Hood, Compass Climate Decarbonising the New Zealand’s journey to net zero carbon energy sector ▪ Hon James Shaw, Minister of Climate Change 9.00 to 10.45 Infrastructure implications of decarbonisation ▪ Ross Copland, New Zealand Infrastructure Commission The industrial heat opportunity ▪ Linda Mulvihill, Fonterra Panel and Audience Discussion – testing our key opportunities and level of ambition ▪ Ross Copland, New Zealand Infrastructure Commission ▪ Linda Mulvihill, Fonterra ▪ Briony Bennett (she/her), Ministry of Business, Innovation and Employment ▪ Matt Burgess, The New Zealand Initiative ▪ Liz Yeaman, Retyna Ltd Morning Tea Sponsored by Ara Ake 10.45 to 11.15 Session 2 Waipipi, Delivering a wind farm during a global pandemic Jim Pearson, Tilt Renewables Building new wind Australian renewables and wind development update 11.15 -1.00 ▪ Kane Thornton, Clean Energy Council DNV’s Energy Transition Outlook what it means for wind energy ▪ Graham Slack, DNV A changing regulatory landscape and implications for wind and other renewables ▪ Amelia
    [Show full text]
  • WEL Networks Annual Report 2018
    2018 WEL Networks and subsidiaries Annual Report 0800 800 935 | wel.co.nz ISSN 2463-4646 (print) ISSN 2463-4646 (print) 02 2018 WEL Networks | Annual Report THIS IS THE ANNUAL REPORT OF WEL NETWORKS LIMITED Dated this 6th day of June 2018 Signed for and on behalf of the Board of Directors ROB CAMPBELL Chairman TONY STEELE Director wel.co.nz CONTENTS PROFILE 03 CHAIRMAN’S REPORT 05 WEL NETWORKS CHIEF EXECUTIVE REPORT 07 ULTRAFAST FIBRE CHIEF EXECUTIVE REPORT 09 QUICK FACTS AND KEY PERFORMANCE INDICATORS 11 DIRECTOR PROFILES AS AT 31 MARCH 2018 21 CORPORATE GOVERNANCE 25 SUSTAINABILITY 26 DIRECTOR DISCLOSURES OF INTEREST 27 WEL ENERGY TRUST 29 THE HEADLINES 31 FINANCIAL STATEMENTS 35 AUDITORS’ REPORT 87 DIRECTORS’ REPORT AND STATUTORY INFORMATION 90 DIRECTORY 95 02 2018 WEL Networks | Annual Report 2018 WEL Networks | Annual Report 03 PROFILE The WEL Group is focused on delivering innovative utility services to enable our communities to thrive. Our electricity network has been serving the Waikato for 100 years distributing power from the national grid, supplying over 160,000 people with electricity services through 90,000 connections. We play a vital part in the economic and social development of the region by recognising and investing in new technologies that will revolutionise our network and future proof our region. The safety of our staff and communities is our highest network that is available to deliver ultra-fast broadband priority and we are committed to ensuring everyone services to more than 200,000 households, schools, makes it home safely every day. businesses and healthcare facilities within the Waikato, Taranaki and Bay of Plenty regions.
    [Show full text]
  • 2010 Default Price-Quality Path Compliance Assessment Decision
    COMMERCE COMMISSION Regulation of Electricity Lines Businesses Price-Quality Regulation Reasons for Not Declaring Control of the following Non-exempt Electricity Distribution Businesses: Alpine Energy Limited, Centralines Limited, Eastland Network Limited, Horizon Energy Distribution Limited, Nelson Electricity Limited, Network Tasman Limited, Orion New Zealand Limited, OtagoNet Joint Venture, Powerco Limited, The Lines Company Limited, Top Energy Limited and Wellington Electricity Lines Limited 1 April 2011 CONTENTS PAGE INTRODUCTION .................................................................................................. 3 Purpose and Scope .............................................................................................. 3 Electricity Distribution Businesses Assessed ................................................... 3 Statutory Framework ......................................................................................... 4 Consumer-owned .................................................................................................................. 4 Process and Analytical Framework Applied ................................................... 5 Overview of the 2009/10 Assessment ................................................................ 6 Breaches of the Price Path ................................................................................................... 6 Breaches of the Quality Threshold ..................................................................................... 11 DECISIONS –
    [Show full text]
  • Managing the Assets That Distribute Electricity
    B.29 [17i] Managing the assets that distribute electricity Office of the Auditor-General PO Box 3928, Wellington 6140 Telephone: (04) 917 1500 Facsimile: (04) 917 1549 Email: [email protected] Website: www.oag.govt.nz About our publications All available on our website The Auditor-General’s reports are available in HTML and PDF format on our website – www. oag.govt.nz. We also group reports (for example, by sector, by topic, and by year) to make it easier for you to find content of interest to you. Our staff are also blogging about our work – see blog.oag.govt.nz. Notification of new reports We offer facilities on our website for people to be notified when new reports and public statements are added to the website. The home page has links to our RSS feed, Twitter account, Facebook page, and email subscribers service. Sustainable publishing The Office of the Auditor-General has a policy of sustainable publishing practices. This report is printed on environmentally responsible paper stocks manufactured under the environmental management system standard AS/NZS ISO 14001:2004 using Elemental Chlorine Free (ECF) pulp sourced from sustainable well-managed forests. Processes for manufacture include use of vegetable-based inks and water-based sealants, with disposal and/or recycling of waste materials according to best business practices. Photo acknowledgement: mychillybin © Thysje Arthur B.29[17i] Managing the assets that distribute electricity Presented to the House of Representatives under section 20 of the Public Audit Act 2001. June 2017
    [Show full text]
  • EV CONNECT CONSULTATION DRAFT ROADMAP Consultation Close Date: 15 July 2021
    EV CONNECT CONSULTATION DRAFT ROADMAP Consultation close date: 15 July 2021 Released May 2021 EV CONNECT – DRAFT ROADMAP CONTENTS 1. Introduction 3 2. Context 7 3. Roadmap objectives 11 4. Roadmap approach and actions 12 5. Building on EV Connect progress 17 6. Getting to the starting line 20 Acknowledgements We acknowledge the input and engagement from our stakeholders through 2020-21 which have contributed to the scope and direction outlined in the roadmap and key actions within it. We also acknowledge the support of GreenSync – particularly Bridget Ryan - in helping us to write and refine this Draft Roadmap. Finally, we acknowledge the funding, support and engagement of EECA on the EV Connect project. Copyright © 2021, Wellington Electricity Lines Limited (WELL) Disclaimer The information contained in this document provides a summary of the subject matter covered. While we use all reasonable attempts to ensure the accuracy and completeness of the information, facts and opinions herein, we make no warranty or guarantees on the information. Page 2 of 25 EV CONNECT – DRAFT ROADMAP In New Zealand, electricity distribution is regulated. The Commerce 1. Introduction Commission sets how much money an Electricity Distribution Business As electric vehicle (EV) uptake increases, electricity networks will be (EDB) has to build and operate their network, the services provided and required to manage the associated increase in demand for electricity. The the level of quality delivered. The Electricity Authority defines how EDBs increase will be significant – our studies show that a small EV will increase interact with other industry participants and customers. household electricity use by 35%.
    [Show full text]
  • Wellington Electricity Annual Compliance Statement
    Annual Compliance Statement for 2019/20 Wellington Electricity Annual Compliance Statement Year ended 31 March 2020 Page | 1 Annual Compliance Statement for 2019/20 Contents Contact details ............................................................................................................................................. 3 1 Introduction ............................................................................................................................................. 4 1.1 2018 CPP Determination requirements .......................................................................................... 5 1.2 Disclaimer ....................................................................................................................................... 5 1.3 Rounding ........................................................................................................................................ 5 2 Compliance statements ........................................................................................................................... 6 2.1 Presentation of the annual Compliance Statement ........................................................................ 6 2.2 Wash-up calculation statement ...................................................................................................... 6 2.3 Quality standard statement ............................................................................................................. 6 2.3.1 Compliance with the annual reliability assessment ...................................................................
    [Show full text]
  • Annual Report 2013 -2014
    Annual Report 2013 -2014 Northpower Transmission Line Mechanic Lenny Goodwin. Northpower Annual Report 2013-2014 The Board of Directors is pleased to present the Annual Report of Northpower Ltd and its subsidiaries (West Coast Energy Pty Ltd and Northpower Western Australia Pty Ltd) for the year ended 31 March 2014. Warren Moyes (Chairman) David Ballard Russell Black Nikki Davies-Colley Ken Hames Michael James John Ward For and on behalf of the Board of Directors. Warren Moyes Nikki Davies-Colley Chairman Director “safe, reliable, hassle free service” Table of contents Northpower Annual Report 2013-2014 Chairman’s report 1 Chief Executive’s report 3 Financial overview 6 Northpower’s Network 9 Northpower New Zealand Contracting 12 West Coast Energy 16 Our fibre network 17 Pacific Islands 18 Northpower Electric Power Trust 19 Safety and achievements 20 Community and sponsorship 23 Financials 28 Board of Directors’ report 31 Directors’ responsibility statement 32 Governance statement 33 Statement of service performance 34 Comprehensive income statement 35 Balance sheet 36 Statement of changes in equity 37 Cash flow statement 38 Notes to financial statements 39 Directory 79 “safe, reliable, hassle free service” ChaiRMAN’S RepoRT It’s not often you can Having recently opened our new depot in Perth, I see reflect on a career our growth only strengthening. We have put a stake role spanning 21 years in the ground and will continue to service our clients but as I look back on well while growing our profitability. Without the well Northpower’s success considered support of the Northpower Electric Power over the past 12 months Trust this would not have been possible.
    [Show full text]
  • Electricity, Energy, and the Environment: Environmental Performance Assessment 1 July 2004–30 June 2005
    Electricity, energy, and the environment: Environmental performance assessment 1 July 2004–30 June 2005 May 2006 Parliamentary Commissioner for the Environment Te Kaitiaki Taiao a Te Whare Paremata PO Box 10-241, Wellington, Aotearoa New Zealand www.pce.govt.nz ELECTRICITY, ENERGY, AND THE ENVIRONMENT: ENVIRONMENTAL PERFORMANCE ASSESSMENT 1 JULY 2004–30 JunE 2005 2 This report and other publications by the Parliamentary Commissioner for the Environment (PCE) are available free of charge at www.pce.govt.nz. Investigation team Doug Clover (Project leader) Iain McAuley East Harbour Management Services Internal reviewers Helen Beaumont Michael Moodie Pat Martin External comment Those agencies directly mentioned in the report have had an opportunity to comment on a draft. Comments were received from: Electricity Commission Ministry of Economic Development Energy Efficiency and Conservation Authority Ministry for the Environment Editing Write Group Limited, PO Box 9840, Wellington Proof reading Philippa Le Couteur Design and layout Kathryn Botherway Cover illustration Simon Shaw, Watermark Ltd, www.watermarkltd.com Bibliographic reference Parliamentary Commissioner for the Environment. 2006. Electricity, energy, and the environment: Environmental performance assessment 1 July 2004–30 June 2005. Wellington: Parliamentary Commissioner for the Environment. This document may be copied provided the source is acknowledged. ISSN 1177-0066 PARLIAMENTARY COMMISSIONER FOR THE ENVIRONMENT pce 3 Contents Preface ...........................................................................................................6
    [Show full text]
  • Electricity Network Pricing Schedule (Module 15)
    Electricity Network Pricing Schedule (Module 15) Effective 1 April 2020 Electricity Network Pricing Schedule (Module 15) Contents Table of figures ............................................................................................................................................ 3 Contact details ............................................................................................................................................. 3 1 Electricity network lines charge pricing ................................................................................................ 4 1.1 Purpose ...................................................................................................................................... 4 1.2 General terms ............................................................................................................................. 4 2 Residential electricity pricing ................................................................................................................ 9 2.1 Residential price categories ........................................................................................................ 9 2.2 Description of consumption category options ........................................................................... 10 2.3 Residential pricing eligibility criteria .......................................................................................... 11 3 General low voltage and general transformer connections (non-residential) ..................................... 13 3.1
    [Show full text]
  • Transpower's Individual Price
    June 27, 2019 Contact: Graeme Peters, Chief Executive Level 5, Legal House 101 Lambton Quay WELLINGTON 6011 +64 4 471 1335 [email protected] Transpower’s individual price- quality path from April 2020 Submission to the Commerce Commission Final 1 From the Electricity Networks Association ELECTRICITY NETWORKS ASSOCIATION Submission on Transpower IPP Table of Contents 1. ENA ................................................................................................................... 3 2. Introductory comments ..................................................................................... 3 3. Customer engagement ....................................................................................... 4 4. Pass through ...................................................................................................... 5 5. Revenue Smoothing ........................................................................................... 6 6. FENZ levies ......................................................................................................... 6 7. Conclusion ......................................................................................................... 7 Appendix 1: ENA Members ......................................................................................... 8 2 ELECTRICITY NETWORKS ASSOCIATION Submission on Transpower IPP 1. ENA The Electricity Networks Association (ENA) welcomes the opportunity to submit on Transpower’s individual price-quality (IPP) path from 1 April 2020. The ENA represents
    [Show full text]
  • Transmission Pass-Through Methodology 2021/22
    Transmission Pass-through Methodology 2021/22 Transmission Pass-through Methodology Effective: 1 April 2021 1.1 Overall principles This document describes the methodology Wellington Electricity uses to allocate Transmission Costs to the Customer. The method by which Transmission Costs are incurred by Wellington Electricity is determined largely by parties other than Wellington Electricity. Wellington Electricity may change its allocation methodology from time to time to account for changes in Transmission Costs or the methodology used to determine Transmission Costs. When making changes to the allocation methodology Wellington Electricity will attempt to align the allocation methodology with the way costs are incurred as far as is reasonable considering the practicalities of allocating these to multiple parties. Transmission pass-through is used so that large customers are allocated costs on a basis that reflects their individual circumstances and usage, rather than bundling the transmission charges into line charges as for mass market type customers. 1.2 Definitions Capacity Measurement Period means, for a particular Pricing Year, the 12 month period from September 1 to August 31 immediately prior to the start of the Pricing Year. Customer means a party with which Wellington Electricity has a connection contract allocating Transmission Costs on a transmission pass-through basis. Customer Demand means the average of the Customer’s metered demands, adjusted for losses, (measured in kW) that occur at the same time as the Regional Demands. Customer Volume means the metered energy, adjusted for losses, (measured in kWh) delivered to the Customer. Grid Exit Point (GXP) means the point on the electricity transmission system at which the distribution network is connected or at which any embedded generators are deemed to be connected.
    [Show full text]