New Zealand Gazette – 1995 – No. 101

Page 3217

✨ Financial Statements

18 SEPTEMBER NEW ZEALAND GAZETTE 3217

ENERGYDIRECT ELECTRICITY BUSINESS

NOTE 7: INVESTMENTS

	As at 31 March 1995
	Electricity $000

Movement in investment in associates

Opening balance | 293 | - | 293 |
Additional post-incorporation loss of Pacific Energy | (25) | - | (25) |
Further share capital invested in Pacific Energy Limited | 18 | - | 18 |
Share of Pacific Energy Limited profit for the year | 157 | - | 157 |

Closing balance | 443 | - | 443 |

Net assets comprise:

Gross assets | 29,931 | - | 29,931 |
Gross liabilities | (28,158) | - | (28,158) |

Net assets | 1,773 | - | 1,773 |

The Corporation's 25% share | 443 | - | 443 |

The amount of $443,000 relates to EnergyDirect's investment in Pacific Energy Ltd, a joint venture company in which the Corporation has a 25% shareholding. The principal activities of this associate company are the purchasing of electricity on behalf of its customers at the wholesale level, providing value added services at the retail level and investigating potential generation opportunities. The investment is allocated to the Energy business activities of EnergyDirect Corporation.

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VUW Te Waharoa — NZ Gazette 1995, No 101

NZLII — NZ Gazette 1995, No 101

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🏭 EnergyDirect Electricity Business Financial Statements Notes (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsEnergyDirect, Electricity Business, Investments, Financial Statements, Pacific Energy

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