Vector will get $53 million from Transpower to place high-voltage cable through its Auckland isthmus tunnel and North Shore transmission passageway.

Vector Chief Executive, Simon Mackenzie said that the sum, about be made in two portions, would be part of general profits.

The 9km lengthy, Penrose to Hobson St. tunnel, is around 3m in width and was constructed in 2001 to enhance safety of supply into the Auckland CBD.

Mackenzie said that the contract was anticipated to become unrestricted in May next year.

He said that the imbursement was a suitable commercial contemplation for utilization of the tunnel and hallway. No rent would be disbursed.

Mackenzie added, "What's really good about this is that it's better than having to dig up the streets of Auckland and delaying major cable work".

Transpower would put a 220kV wire through the tunnel other than the 110kV and 33kV cables that are already serving up Vector's network.

Transpower Chief Executive, Patrick Strange says that the union is an excellent result for customers in Auckland and Northland.

He said that this cable is an essential constituent of their North Auckland and Northland project to strengthen the electricity supply to consumers north of the Auckland isthmus.