THE YEAR'S PROGRESS

Daily Telegraph (Napier), Volume 58, Issue 89, 17 May 1929, Page 8

THE YEAR'S PROGRESS

HAWKE'S BAY ELECTRIC POWER BOARD. CHAIRMAN'S ANNUAL REPORT. At the annual meeting of the Hawke's Bay Electrie Power Board in Napier yesterday afternoon the chairman, Mr H. Harvey, presented his first annual report 011 the activities of the board during tlie past year,. which disclosed a inost satisfactory position of affairs. The report, as read, was as follows : — "I would first like to mention that, owing to Mr J. B. Audrew's meeting with a very unfortunate illness, I was appointed acting chairman at the meeting -of the board held in.August, 1928. ■ Mr Andrew has heen connected witli the Power Board since the ' provisional committee was first formed, and was chairman of tho board from May, 1925, until the time of his illness. "During that time lie guided the board through the initial stages until the distribution of electricity was established. I am sure every memhcr of tlie board appreciated Mr Audrew's services and wishes him a speedy recovery. LINE EXTENSION. "The new areas livenecl up during the year include Westshore, Bay View, Eskdale, Puketapu and numerous small extensions. These include 46 sub-stations, 48 miles of pole line, 1646 ironbark poles and 709 miles of wire, and all the work has heen carried out by eontract and within the estimated cost. The area now covered by the board's lines is approximately 200 square miles, and the material used is as undev : — Miles of wire 1498, length of pole lines 233 miles, number of substations, 197, number of ironbark poles 6146, number of steel poles 478, number of steel towcrs 46. "At. +1ia An/l nf JannnTV. 1929, supply was first given to tliis board from the power liouse at Tuai, Waikaremoana. Duriug the first few months of operation tbere were numerous sliort shutdowns causing inconvenience to the board's consumers. Since adjustments liave been made to the regulator and govemor at Tuai the seiwice has been more satisfactory. "Some shutdowns 011 _ the board's systein have been occasioned through birds, overhanging trees and lightning. Recently lightning arresters liave heen installed at the ends of all the country lines, and stcps have already been taken to protect the lines against the bivd and tree menace, so that it is conficlently expected that in tlie future interruptions will he reduced to a minimum. A CREDIT BALANCE. "At the beginning of the year the board bad a eredit balance in revenue aceount of £4058 and at the end of the year this amount had been inereased by £80 and now amounts to £4138. Tlie.se figures have not yet beea audited. During tlie past year the revenue account was called upon to bear tlie whole expenso of interest, sinking fund and depreciation and a •small reserve for bad dehts lias been established, I think the rcsults of the year's operations are distinctly creditahle and it indicates that the board is being administered on a good financial basis. "During the year arrangements were made to borrow a further £30,000 with interest at 5.} per cent. By the systeni of repayment by instalnients, and therefore getting the equivalent of oi per cent. on the sinking fund, the actual amount paid by the board for interest is 5§ per cent. per annum. This amount will be repaid hy instalnients extending over 36| .vears. This money has just commenced coming to liand and wlien all received will bring the loan indebtedness up to £233,400. "In addition to tho Greenmeadows Loan of £4000 wliich was i'ully raised, £2-30,000 has heen raised of tlie £300,000 loan, leaving a balance of £70,000 of unexiycisecl loan authority. _It is not expected that any of this £70,000 will be raised for some time." REVENUE. The revenue for the past year, as disclosed in the report, amounted to £39,757, the revenue for the saies of electricity totalling £36,826, an increase of £18,548 on last year. Interest on advances amounted to £850,an increase of £540. Purchase of electricity cost the board £20,284, in increase of £10,540 011 the previous year, wbile interest 011 loans cost £11,723, an increase of £8,320. It is anticipated that tlie revenue for the coming year will be between £45,000 and £50,000 so it will he seen that the activities of the board are increasing very rapidly. The report was unanimously adopted and tlie chairman heartily congratulated thereon by Messrs Crosse and Hill.