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New Zealand Gazette – 1997 – No. 126

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✨ Financial Statements

NEW ZEALAND GAZETTE

No. 126

BAY OF PLENTY ELECTRICITY LIMITED

Financial Statements for the purposes of

Electricity (Information Disclosure) Regulations 1994

Notes to the Financial Statements

for the 12 months ended 31 March 1997

	Network		Generation		Energy Trading
	1997	1996	1997	1996	1997	1996
	$000	$000	$000	$000	$000	$000

20 Operating Leases

Operating lease commitments fall due for repayment in the following periods:

Within One Year | 26 | 26 | 6 | 6 | 6 | 6 |
Within One to Two Years | 8 | 20 | 2 | 4 | 2 | 4 |
Within Two to Five Years | 8 | - | 2 | - | 2 | - |
| 42 | 46 | 10 | 10 | 10 | 10 |

21 Remuneration of Auditors

Amounts received, or due and receivable, by the auditors for:

Financial Report Audit | 22 | 18 | 5 | 4 | 5 | 4 |
Other Services | 64 | 307 | 14 | 66 | 14 | 66 |
| 86 | 325 | 19 | 70 | 19 | 70 |

22 Contingent Liability

At balance date the two contingent liabilities are:

(i) PowerBuy Group Limited (PowerBuy) was established to manage electricity purchasing risks. To cover a potential liability should PowerBuy be unable to meet its commitments, if certain events occurred, PowerBuy's shareholders have provided PowerBuy with an underwriting facility. Each shareholder is a party to the agreement in proportion to their shareholding in PowerBuy. The maximum exposure to Bay of Plenty Electricity Limited is $2,558,219. Shareholders are severally party to the agreement in proportion to their shareholding.

(ii) There is a claim before the Waitangi Tribunal relating to the Rangitaiki River, and in particular the Aniwhenua Dam.

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VUW Te Waharoa — NZ Gazette 1997, No 126

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✨ LLM interpretation of page content

🏭 Financial Statements for Bay of Plenty Electricity Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Operating Leases, Remuneration of Auditors, Contingent Liability, Electricity Generation, Electricity Trading

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