✨ Financial Statements
NEW ZEALAND GAZETTE
23 SEPTEMBER
3729
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 |
19 Operating Leases
Operating lease commitments fall due for repayment in the following periods:
Within One Year | 8 | 26 | 2 | 6 | 1 | 6 |
Within One to Two Years | 8 | 8 | 2 | 2 | 1 | 2 |
Within Two to Five Years | - | 8 | - | 2 | - | 2 |
| 16 | 42 | 4 | 10 | 2 | 10 |
20 Remuneration of Auditors
Amounts received, or due and receivable, by the auditors for:
Financial Report Audit | 29 | 22 | 6 | 5 | 6 | 5 |
Other Services | 76 | 64 | 17 | 14 | 16 | 14 |
|105 | 86 | 23 | 19 | 22 | 19 |
21 Related Party Transactions
The Company conducts business predominantly in the Eastern Bay of Plenty and undertakes transactions for shareholders, company officers and other related parties that reside in the region. All transactions with related parties have been carried out on a commercial and "arms length" basis.
Mercury Energy Limited hold a 33% interest in Power New Zealand Limited which is the parent company of Bay of Plenty Electricity Limited.
The Company had a 20.24% (20.24% in 1996) interest in PowerBuy Group Limited until 30 September 1997 when the investment was sold. Bay of Plenty Electricity Limited traded with PowerBuy Group Limited purchasing and selling electricity until 30 September 1997.
| Network | Generation | Energy Trading | ||||
|---|---|---|---|---|---|---|
| 1998 | 1997 | 1998 | 1997 | 1998 | 1997 | |
| $000 | $000 | $000 | $000 | $000 | $000 |
Transactions
Purchases from PowerBuy Group Limited | - | - | - | - | 9,578 | 23,693 |
Sales to PowerBuy Group Limited | - | - | 4,739 | 8,436 | - | - |
Purchases from Power New Zealand Group Limited | 264 | 393 | 75 | - | 103 | - |
Sales to Power New Zealand Group Limited | 443 | - | - | - | - | - |
Purchases from Mercury Energy Limited | 165 | - | - | - | 36 | - |
Sales to Kapuni Energy Joint Venture | - | - | 57 | - | - | - |
Purchases from Kapuni Energy Joint Venture | - | - | - | - | 55 | - |
Balance
Amounts owed to PowerBuy Group Limited | - | - | - | - | - | 2,190 |
Amounts owed by PowerBuy Group Limited | - | - | - | - | 632 | - |
Amounts owed to Power New Zealand Limited | 35 | 97 | - | - | - | - |
Amounts owed to Mercury Energy Limited | 3 | - | - | - | 1 | - |
Amounts owed to Kapuni Energy Joint Venture | - | - | - | - | 55 | - |
Amounts owed by Kapuni Energy Joint Venture | - | - | 86 | 418 | - | - |
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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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