Aurora Energy will spend an extra $42 million on its network during the next 10 years.
The lines company was already planning on spending $748.4 million on its ageing network during the next 10 years to upgrade and replace assets in poor condition such as cross-arms, overhead lines, zone substation switch-gear and protection systems.
In its updated asset management plan released yesterday the company announced it now planed to spend $790.9 million following the results of a $400,000 independent engineering review of the network by WSP released late last year.
In a written statement chief executive Richard Fletcher said the company had made changes to increase cross-arm renewals and extend its pole mounted switchgear renewal.
Safety remained the company priority, Mr Fletcher said.
The major change from the 2018 asset management plan was the increase in cross-arm renewals, failures of which pose a high public safety risk as they can result in live wires dropping to the ground, the report said.
The company, which covers Dunedin, Central Otago and the Queenstown Lakes area, will seek approval from the Commerce Commission in May 2020 to increase its prices as a result of the investment.
The commission regulates prices electricity transmission companies such as Aurora can charge, but those companies can seek a customised price path (CPP) to increase their own prices to fund unexpected needs.
If successful, it will lead to increased prices for customers from April 2021.
