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New Zealand Gazette – 1999 – No. 145

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✨ Financial Statements

NEW ZEALAND GAZETTE

No. 145

FOR THE YEAR ENDED 31 MARCH 1999

Lines Business

1999

The Lines Business has received services from King Country Energy’s Network Operations Division. Both entities form part of King Country Energy Limited. All transactions between the two parties are at the cost to the provider of providing those services. There have been no significant transactions at nil or nominal value.

(a) Construction of subtransmission assets 0

(b) Construction of zone substations 0

King Country Energy increased the size of its network to enable supply to new customers. The costs involved in this area were:

(d) Construction of distribution lines & cables

combination of Overhead 11kv lines and Underground 11kv cables 262,854

(e) Construction of distribution transformers 122,131

(f) Construction of distribution substations 22,509

(g) Construction of low voltage reticulation 61,780

King Country Energy was also involved in connecting new consumers to its network and the following costs were incurred:

(h) Construction of other system fixed assets 55,891

(i) Maintenance of assets 1,877,788

(j) Consumer connections and disconnections 10,004

2,412,957

In some cases estimates have been used to apportion costs between the categories listed above.

12. CAPITAL COMMITMENTS AND CONTINGENT LIABILITIES

At 31 March 1999 the Company has not entered into any contracts to purchase and install capital equipment of a significant nature.

13. OPTIMISED DEPRIVAL VALUE

An Optimised Deprival Valuation (ODV) of the network business of the Company was carried out as at 31 March 1997. This valuation was carried out for information disclosure purposes under the Energy Companies Act 1992, Electricity Act 1992 and The Electricity (Information Disclosure) Regulations 1994. Under the ODV methodology the value of the network assets as at 31 March 1997 was $27.3 million.

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VUW Te Waharoa — NZ Gazette 1999, No 145

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✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for King Country Energy Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Current Liabilities, Financial Instruments, Credit Risk, Related Party Transactions

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