New Zealand Gazette – 1998 – No. 160

Page 3858

✨ Financial Commitments and Contracts

Electricity price hedging contracts

The fair value of electricity price hedging contracts can vary from day to day as the spot market price for electricity varies. As at balance date the secondary market for electricity price hedging contracts was not sufficiently active in order to obtain a reliable measure of the fair value of the group’s hedging contracts. As at balance date the contract amount of the electricity hedging activity amounted to $2,361,403 million which represents 40,868 gigawatt hours (GWh).

Group	1998 $000	1998 GWh
Electricity price hedging contracts:
Within one year	178,265	3,408
One to two years	161,286	3,011
Two to five years	489,702	9,010
Beyond five years	1,532,150	25,439
Total	2,361,403	40,868

24. COMMITMENTS

Capital expenditure commitments

Estimated capital expenditure contracted for at balance date but not provided for:

	Line Activities $000	Electricity Generation $000	Retailing Activities $000	Other Activities $000	Total $000
	1998		1998	1997	1998
Strataford power station	-	120,000	-	-	120,000
CBD reinforcement tunnel	86,880	-	-	-	86,880
Other commitments	4,011	260	-	33,195	37,466
	90,891	120,260	-	33,195	244,346

Operating lease commitments

On land and buildings were:

	Line Activities $000	Electricity Generation $000	Retailing Activities $000	Other Activities $000	Total $000
	1998		1998	1997
Within one year	-	-	-	609	800
One to two years	-	-	-	625	790
Two to five years	-	-	-	1,122	1,602
Beyond five years	-	-	-	-	209
	-	-	-	2,356	3,401

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VUW Te Waharoa — NZ Gazette 1998, No 160

NZLII — NZ Gazette 1998, No 160

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✨ LLM interpretation of page content

💰 Electricity Price Hedging Contracts (continued from previous page)

Domain💰 Finance & Revenue
KeywordsElectricity, Price Hedging, Contracts, Fair Value, GWh

💰 Capital Expenditure Commitments

Domain💰 Finance & Revenue
KeywordsCapital Expenditure, Strataford Power Station, CBD Reinforcement Tunnel

💰 Operating Lease Commitments

Domain💰 Finance & Revenue
KeywordsOperating Lease, Land, Buildings

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