New Zealand Gazette – 1998 – No. 165

Page 3967

✨ Financial Statements



2 OCTOBER NEW ZEALAND GAZETTE 3967

TRANSALTA NEW ZEALAND LIMITED

Notes to and forming part of the Financial Statements (Continued)

For the Year Ended 31 March 1998

Note: 12 Commitments

| | Line Business | | Energy Business |
| --- | --- | --- | --- | --- |
| | 31-Mar-98 | 31-Mar-97 | 31-Mar-98 | 31-Mar-97 |
| | $000 | $000 | $000 | $000 |

Capital expenditure contracted for at balance date | 1,711 | 4,063 | - | 61 |

Lease commitments under non-cancellable operating leases are:
Not later than one year | 534 | 2,453 | 391 | 37 |
Later than one year and not later than two years | 493 | 2,429 | 360 | 37 |
Later than two years and not later than five years | 1,142 | 4,533 | 835 | 69 |
Later than five years | - | 225 | - | 3 |
Total lease commitments | 2,169 | 9,640 | 1,586 | 146 |

Note: 13 Contingent Liabilities

Guarantees
The company has provided guarantees in the normal course of business of approximately $23,375,000 to third parties in respect of electricity purchases by its associate company Pacific Energy Limited.

Note: 14 Related Party Transactions

The immediate parent company of TransAlta New Zealand Limited is TransNewZealand Energy Limited and the ultimate controlling party is TransAlta Energy Corporation collectively referred to as the “TEC Group.”

The Company had the following transactions with related parties during the period:

31-Mar-98 31-Mar-98
$000 $000

TEC Group
Paid and accrued for services provided with respect to the installation and implementation of a new electricity network automated asset information and management system. | 500 | -
Interest paid and accrued on capital notes | 6,017 | -
Management fees paid | 345 | 361 |

Pacific Energy Limited
Electricity purchases paid | - | 51,755 |
Purchases payable | - | 4,228 |

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

The information disclosed in the 1998 Information Disclosure package issued by TransAlta New Zealand Limited has been prepared solely for the purposes of the Electricity (Information Disclosure) Regulations 1994.

The information should not be used for any other purpose than that intended under the regulations.



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🏭 Financial Statements of TransAlta New Zealand Limited (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Capital Expenditure, Lease Commitments, Contingent Liabilities, Related Party Transactions, Electricity (Information Disclosure) Regulations 1994