New Zealand Gazette – 1998 – No. 173

Page 4138

✨ Financial Statements Disclosure

4138
NEW ZEALAND GAZETTE
No. 173

Notes to and Forming Part of the Financial Statements
For the Year Ended 31 March 1998

12 DISCLOSURE OF PERFORMANCE MEASURES PURSUANT TO REGULATION 13 AND PART II OF THE FIRST SCHEDULE OF THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1994

Financial Performance Measures

(i) Accounting Return on Total Assets 10.83% 11.58% 6.54% 5.49%
(ii) Accounting Return on Equity 7.85% 9.08% 4.86% 3.75%
(iii) Accounting Rate of Profit including 21.50% 8.08% 4.63% 3.71%
revaluation
(iv) Accounting Rate of Profit excluding 8.39% 8.08% 4.63% 3.71%
revaluation

Efficiency Performance Measures

(iv) Direct Line Cost per Kilometre $873.26 $1,038.34 $1,232.54 $996.80
(v) Indirect Line Cost per Electricity $92.02 $62.80 $91.04 $164.97
Customer

Indirect line costs for the 1998 year have been ascertained using the new draft allocation methodology and includes one off restructuring costs incurred in the acquisition of Egmont Electricity Limited.

13 CONTINGENT LIABILITIES AND COMMITMENTS

There are no capital commitments as at balance date.

The company has guaranteed the obligations of its associate company as they relate to energy purchases on its behalf. The company has also made arrangements with its bankers to provide guarantees up to $16.8 million to enable Energy Brokers New Zealand Limited to trade in the wholesale market.

14 SUBSEQUENT EVENTS

Subsequent to balance date the Government has passed legislation which regulates the ability of electricity supply companies to own various assets.

The legislation requires legal separation of the company's existing line distribution and energy trading assets. Further, it will restrict ownership of the various types of assets existing and requires the company to transfer part of its existing assets to another entity.

No adjustments to carrying values of assets recorded in these financial statements have been made as a result of any possible impact of the amended legislative environment.

DEPARTMENT OF INTERNAL AFFAIRS
TE TARI TAIWHENUA

PUBLISHED BY AUTHORITY OF DEPARTMENT OF INTERNAL AFFAIRS:
GP LEGISLATION SERVICES LIMITED, WELLINGTON, NEW ZEALAND—1998

ISSN 0111-5650
Price $1.60 (inc. G.S.T.)
31655—98A

PDF embedding disabled (Crown copyright)

View this page online at:

VUW Te Waharoa — NZ Gazette 1998, No 173

NZLII — NZ Gazette 1998, No 173

Parliament House (depicted) was completed in 1918 and remains the primary seat of Parliament.

✨ LLM interpretation of page content

🏭 Financial Performance Measures Disclosure

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Financial Performance, Accounting Returns, Efficiency Measures

🏭 Contingent Liabilities and Commitments

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Contingent Liabilities, Bank Guarantees, Associate Company Obligations

🏭 Subsequent Events Disclosure

Domain🏭 Trade, Customs & Industry
KeywordsElectricity, Legislation, Asset Separation, Regulatory Changes

As the Gazette has been published for more than 185 years, copyright status depends on the publication date of each issue:

1840–1925 (Public Domain): Issues of the New Zealand Gazette and Provincial Gazettes from this period are in the public domain, as the term of Crown copyright (100 years) has expired. Mechanical reproductions (e.g., scanned PDFs) of these public domain documents do not attract new copyright.
1926–1999 (Crown Copyright): Issues from this period remain subject to Crown copyright. Usage of these issues in this project is "Fair Dealing" for research purposes and consistent with the spirit of the open-access principles championed by NZGOAL, ie, "The default licensing position under ... NZGOAL is the Creative Commons Attribution 4.0 International licence ... [t]o the greatest extent possible, agencies should apply this licence to copyright material on their websites"
2000–Present (CC-BY 3.0 NZ): Gazette issues published on gazette.govt.nz are Crown copyright but are explicitly licensed by the Department of Internal Affairs under the Creative Commons Attribution 3.0 New Zealand licence (CC-BY 3.0 NZ). This project redistributes this content in accordance with those terms.

Nothing in this project is intended to infringe copyright, trademark law or personal privacy. Please contact me immediately if you have any concerns.

Third-Party Content

Where third-party content (e.g., notices submitted by external organisations) is identified within the Gazette, users should satisfy themselves regarding the copyright status of that specific content, as it may be subject to different ownership terms than the Gazette itself.

Sources and Attribution

NZ Gazette Sources

The primary sources for the issues of the NZ Gazette indexed by this project are:

New Zealand Gazette Archive, provided by Victoria University Library, copyright 2008 LexisNexis NZ Limited, Crown Copyright of New Zealand Gazette Office
- Issues from 1841-2008, including the New Munster, New Ulster, and Provincial Gazettes
New Zealand Gazettes by New Zealand Legal Information Institute (note: "NZLII is not the copyright owner in the source documents published on NZLII")
- Issues from 1913-1999
Gazette.govt.nz, Crown copyright / licensed by the Department of Internal Affairs under CC-BY 3.0 NZ
- Issues from 2000-2017

Additional Sources

Wellington City Recollect have made available a comprehensive and excellent-quality scan of the Wellington Provincial Gazette which was used to fill in a number of issues missing from Victoria University's Gazette Archive; in particular, all 1856 issues, issues 22-34 for 1864 and issues 9-19 for 1870.
27 issues of The New Zealand Advertiser and Bay of Islands Gazette (1840) were sourced from Papers Past (public domain).
Gazette Extraordinary No. 1 (1840), held at the Alexander Turnbull Library, Wellington, New Zealand. Imaged by Luke Howison at the National Library reading rooms; PDF released into the public domain.

PDF Icon

The PDF PDF Icon was made by Good Ware, CC BY-SA 4.0.

Masthead

The logo in the header is an edited version of “Winning Coat of Arms Competition Entry, 1908” by Archives New Zealand, CC BY 2.0 (found via Wikipedia).

Who made this?

I'm Luke Howison, a freelance web developer with an interest in genealogy. I have created several websites for genealogical research, such as NZ Ancestor Search Helper.