✨ Financial Statements
23 SEPTEMBER NEW ZEALAND GAZETTE 3725
BAY OF PLENTY ELECTRICITY LIMITED
Special Purpose Financial Statements
Electricity (Information Disclosure) Regulations 1994
Notes to the Financial Statements
for the 12 Months ended 31 March 1998
| Network | Generation | Energy Trading | ||||
|---|---|---|---|---|---|---|
| 1998 | 1997 | 1998 | 1997 | 1998 | 1997 | |
| $000 | $000 | $000 | $000 | $000 | $000 |
14 Dividends Payable
Dividend Paid & Declared 2,300 2,914 2,519 6,135 279 347
Supplementary Dividend - 154 - 324 - 18
Less Interim Dividend Paid (937) (2,169) (1,026) (4,566) (115) (258)
Less Dividend on shares held by BOPE Trustee Limited (62) - (68) - (8) -
Balance as at 31 March 1,301 899 1,425 1,893 156 107
15 Investments
Subsidiary Companies
Subsidiary Companies:
| Company | Percent Interest |
|---|---|
| 1998 | |
| Kapuni Energy Limited | 100% |
| BOPE Trustee Limited | 33% |
The principal activity of Kapuni Energy Limited is the generation of electricity and steam through its 50% interest in Kapuni Energy Joint Venture. Kapuni Energy Limited has a balance date of 31 March.
The principal activity of BOPE Trustee Limited is the administration of the Bay of Plenty Electricity Employee Share Purchase Trust and the Bay of Plenty Electricity Employee Share Purchase Scheme.
Associate Company
Shares at Cost - 183
Share of post-acquisition retained earnings and reserves - 51
-
234
Associate Company:
PowerBuy Group Limited Interest
0% 20%
The Company sold its shares in PowerBuy Group Limited on 30 September 1997.
The principal activity of the associate, PowerBuy Group Limited, is the purchase and resale of bulk electricity in the wholesale electricity market. PowerBuy Group Limited has a balance date of 31 March.
Other investments
Listed Shares
(market value $2,220 1997, $1,980 1997) 1 1
EMCO Loan 17 25
18 26
Balance as at 31 March 18 260
Interest is receivable on the EMCO Loan at 11.7% per annum with the principal repayable by 30 September 2001.
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VUW Te Waharoa —
NZ Gazette 1998, No 156
NZLII —
NZ Gazette 1998, No 156
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Bay of Plenty Electricity Limited Financial Performance
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