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New Zealand Gazette – 1995 – No. 101

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✨ EnergyDirect Financial Statements

3218

NEW ZEALAND GAZETTE

No. 101

ENERGYDIRECT ELECTRICITY BUSINESS

NOTE 8: INTEREST IN JOINT VENTURE

1995
$000

The Corporation has a 46.5 per cent participating interest in a landfill gas joint venture, whose principal activity is the generation of electricity from extraction of methane gases from the Silverstream tip at Upper Hutt. The joint venture was established on 23 March 1994. Generation of electricity commenced in October 1994. The generation plant has an output capacity of less than 10 Megawatts and in compliance with the Electricity (Information Disclosure) Regulations 1994 is included within the Energy business activities of EnergyDirect.

(a) Share of assets employed
The Corporation's interest in the joint venture is included in the consolidated accounts under the classifications shown below.

Fixed Assets

Electricity generation assets (Note 6) 2,672
Accumulated depreciation (53)
2,619
Office equipment 8
Accumulated depreciation (1)

Current Assets
Cash and bank 1
Prepayments 3
Electricity distribution inventory 9
13

Current liabilities 17
Retained earnings 24

Share of assets employed in joint venture 2,680

(b) Share of Net Expenses
EnergyDirect Corporation Limited's share of the net expense incurred by the joint venture 91

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VUW Te Waharoa — NZ Gazette 1995, No 101

NZLII — NZ Gazette 1995, No 101

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✨ LLM interpretation of page content

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

Domain🏭 Trade, Customs & Industry
KeywordsEnergyDirect, Electricity Business, Joint Venture, Financial Statements, Silverstream Landfill Gas

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