Vector launches Nexos, Catalyst units in electrification strategy shift

• Vector launched a refreshed electrification strategy that creates two new businesses alongside its regulated electricity distribution unit.
• Nexos will focus on major electricity infrastructure connections for new generation, industrial development, electrification.
• Catalyst will target commercial and industrial electrification projects, including solar, batteries, replacement of fossil-fueled equipment.
• Both units will operate separately from the regulated network, with separate management teams and governance arrangements.
• Plan targets wider use of five-minute smart meter data, rising to 95% coverage by 2031 from about 50% now.

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