New Zealand Gazette – 1999 – No. 107

Page 2551

✨ Financial Disclosure by Horowhenua Energy Limited



1 SEPTEMBER NEW ZEALAND GAZETTE 2551

Horowhenua Energy Limited Line Business – Disclosure 1999

9. Property Plant and Equipment

1999 1998
$000 $000
Land 395 395
Buildings 775 775
Substations 9,515 8,155
Lines 32,632 28,807
Switchgear 5,065 2,597
Transformers 11,745 10,295
Centralised load control equipment 602 630
Work in progress 240 1,495
Other - 5,303
Total distribution assets 60,969 58,452
Other land 78 96
Other buildings 446 333
Accumulated depreciation (38) -
408 333
Plant and equipment 4,593 6,233
Accumulated depreciation (2,411) (3,501)
2,182 2,732
Vehicles 204 367
Accumulated depreciation (95) (138)
109 229
Other work in progress 27 635
Total property plant and equipment $63,773 $62,477

Valuation

Land and Buildings, other than those referred to above as being part of distribution assets, are stated at market valuation of $429,000 as at 31 March 1998 by Darroch and Co (Registered Valuers). The valuations are carried out on a 3 yearly basis.

The Optimised Deprival Value (ODV) of Distribution assets is independently assessed by KPMG Peat Marwick. As at 1 April 1998, their report placed an ODV on Distribution assets of $60,444,000. This value is reflected in Distribution Assets which also includes additions since, at cost of $525,000.



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✨ LLM interpretation of page content

🏭 Financial and Performance Disclosure by Horowhenua Energy Limited (continued from previous page)

🏭 Trade, Customs & Industry
28 May 1999
Electricity, Financial Disclosure, Performance Measures, Horowhenua Energy Limited, Revenue, Expenditure, Taxation, Dividends, Share Capital