Vector (NZE:VCT) said that it published its asset management plan update to comply with the Electricity Distribution Information Disclosure Determination, covering ten years from April 1 of this year to March 31, 2035, according to a Monday New Zealand bourse filing.

The update set out the firm's view of the investments it believes will deliver the best outcomes and also represent a prudent investment strategy.

It noted that Auckland, New Zealand faces unique challenges from customers wanting to connect hyperscale data centers as they seek to locate facilities near demand and connectivity to the global fiber backbone.

There is significant uncertainty however around the rate at which demand will grow to match the capacity requested, it noted. The firm continues to work with data center customers.

Customer electric vehicle uptake has continued at a reduced rate compared to what was observed over 2022-2023. It also continued to see significant cost pressure throughout its supply chain. Its primary equipment cost was largely driven by global demand, with the need for more investment in electricity networks globally.