New Zealand Gazette – 1997 – No. 100

Page 2365

✨ Financial Statements

(iv) DECLARATORY JUDGEMENT

An application has been made to the High Court for a Declaratory Judgement in respect of the Deed that governs the operation of the Kaimai Hydropower Scheme. It is not believed that the outcome of the case will result in a material change to the rights and obligations of TrustPower Limited under the Deed.

(v) WAITANGI TRIBUNAL CLAIM

The Wairoa River and catchment area in which Kaimai Hydropower operates and the Rangitaiki and Wheao Rivers in which the Wheao scheme operates are the subject of a claim against the Crown to be heard by the Waitangi Tribunal. The likely effect of the outcome of these claims is not able to be quantified.

NOTE 18 : RELATED PARTY TRANSACTIONS

No related party debts were forgiven or written off during the year.

During the period to 31 March 1997 material transactions took place with the following related Parties:

Tauranga Joint Generation Committee (Kaimai Hydropower)

TrustPower Limited has a 50% interest in the assets of this Committee which trades as Kaimai Hydropower. Any generation surplus is rebated on the basis of each partner’s annual energy purchases and is recognised as a deduction from the cost of electricity purchases. For the year ended 31 March 1997 TrustPower Limited was allocated 79.72% (80.51% in 1996) of the generation surplus.

Transactions:
Net Purchase of Electricity
Provision of Services
Interest Received

Balance Owing At End Of Year

LINE BUSINESS $'000	ENERGY BUSINESS $'000	GENERATION BUSINESS $'000
-	19,710	-
(116)	-	(1,457)
-	-	-
-	1,466	-

NOTE 19 : SEGMENTAL REPORTING

The group operates within the electricity supply industry. All operations take place within New Zealand predominately in the Bay of Plenty.

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VUW Te Waharoa — NZ Gazette 1997, No 100

NZLII — NZ Gazette 1997, No 100

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✨ LLM interpretation of page content

🏭 TrustPower Limited Financial Position Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated1 August 1997
KeywordsFinancial Statements, Declaratory Judgement, Waitangi Tribunal Claim, Related Party Transactions, Segmental Reporting

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