New Zealand Power utility looks at $3.5 billion bill to storm-proof network

9/4/2018 5:34:00 AM

Source: Business Insurance

New Zealand-based power utility Vector Ltd. is considering replacing overhead power lines with underground lines to storm-proof its network potentially costing the company $5.5 billion New Zealand ($3.6 billion), reported. The city of Auckland lost 40% of its power network in 15 minutes during a storm in April. Vector said that more than 200,000 properties in Auckland suffered a power outage following the April 10 storm.