New Zealand Gazette – 1995 – No. 93

Page 2860

✨ Financial Statements

2860 NEW ZEALAND GAZETTE No. 93

TAURANGA ELECTRICITY LIMITED

Page 14

Guarantee

The company has guaranteed payment for electricity purchases by PowerBuy Group Limited in respect of hedges relating to the level of purchases of electricity by the company as from 1 July 1995.

Claim - Waitangi Tribunal

The company generates electricity from a hydro-electric station [Omanawa] located on the Omanawa River on land owned by the Tauranga District Council. The Ngati Ranginui and Ngati Rangikawa Hapu have claimed ownership of the land and lodged a claim with the Waitangi Tribunal on 18 February 1993. The amount of the claim is not able to be quantified.

COMMITMENTS

	Line Business	Other Businesses
Capital Commitments
Estimated capital expenditure contracted for at balance date but not provided for in relation to the reticulation of subdivisions		$1,004,350

Operating Lease Commitments

Lease commitments under non-cancellable operating leases.
Payable:

Not later than one year | - | 5,943 |
Later than one year and not later than two years | - | 5,657 |
Later than two years and not later than five years | - | 3,525 |
Later than five years | - | $15,125 |

TRANSACTIONS WITH RELATED PARTIES
Tauranga Electricity Limited paid/received the following amounts to/from related parties:

Tauranga District Council
- Income: 234,726
- Expenditure: 647,350 (Other Businesses: 138,134)
Tauranga Civic Holdings Ltd
- Expenditure: 923,085 (Other Businesses: 37,966)
Kaimai Hydropower Ltd
- Expenditure: 1,186,885 (Other Businesses: 3,917,595)
Testing Station Services Ltd
- Income: 629 (Other Businesses: 12,513)
Aspen Contractors Ltd
- Income: 5,071
Kaimai HydroPower [TJGC]
- Income: 89,706

The accompanying Statement of Accounting Policies and Notes form part of and are to be read in conjunction with these Financial Statements. The Financial Statements have been prepared solely for the purpose of complying with Regulations 6[2] and 6[3] of the Electricity (Information Disclosure) Regulations 1994 and are not intended for any other purpose.

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✨ LLM interpretation of page content

🏭 Tauranga Electricity Limited 1995 Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated31 March 1995
KeywordsFinancial Statements, Commitments, Related Parties, Tauranga Electricity Limited

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