5 NOVEMBER NEW ZEALAND GAZETTE 3933

BULLER ELECTRICITY LIMITED ■ LINE BUSINESS

(viii) Revenue
(a) Revenue from line/access charges
(i) Invoiced to consumers by electricity retailer 1,265,757 3,317,793
(ii) Invoiced to consumers by line owner 2,600,758 0
(b) "Other" business (for services) 7,128 9,375
(c) Income from interest on short term investments 16,287 9,351
(d) AC loss rental rebates 107,778 92,451
(e) Electricity hedges 0 134,525
(f) Other revenue not listed in (a) to (e) 101,534 0
(g) Total revenue 4,099,242 3,563,495

(ix) Expenditure
(a) Transmission charges 1,383,347 1,307,552
Transfer payments to “Other” business
(b) Asset maintenance 494,607 524,076
(c) Consumer disconnections and reconnections 1,413 1,354
(d) Meter data 1,987 0
(e) Consumer based load control 27,164 1,655
(f) Avoided transmission charges for own generation 0 0
(g) Other goods and services 3,791 24,322
Payment to non related entities
(h) Asset maintenance 34,423 0
(i) Consumer disconnections and reconnections 0 0
(j) Meter data 0 0
(k) Consumer based load control 0 0
(l) Employee salaries and redundancies 246,894 106,806
(m) Consumer billing and information system expense 9,541 15,938
(n) Depreciation expense on system fixed assets 434,559 321,203
(o) Depreciation on capital works under construction 0 0
(p) Other depreciation expense 65,576 20,259
(q) Corporate and administration 74,957 347,911
(r) Total other human resource expenses 35,191 23,932
(s) Marketing and advertising 13,651 5,044
(t) Merger and acquisition expenses 0 0
(u) Takeover defence expenses 0 0
(v) Research and development expenses 0 0
(w) Consultancy and legal expenses 115,287 50,661
(x) Electricity hedges 0 0
(y) Amortised goodwill 0 0
(z) Subvention payments 0 0
(za) Other expenditure not listed in (a) to (z) 379,850 143,657
(zb) Total Expenditure 3,322,238 2,894,370

(x) Earnings before interest and tax 777,004 669,125

(xi) Interest Expenses 139 51

(xii) Taxation Expense 256,365 230,381

(xiii) Net Profit After Tax 520,500 438,693

The accompanying notes form part of these financial statements