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New Zealand Gazette – 2000 – No. 116

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✨ Financial Transactions Report

2922

NEW ZEALAND GAZETTE

No. 116

WEL ENERGY GROUP LIMITED

13 Related Party Transactions

The Lines Business has received services from WEL Energy Operations Division. Both entities form part of WEL Energy Group. All transactions between the two parties are at arms length and at market rates. There have been no transactions at nil or nominal value.

There are no outstanding balances between the two parties. No debts were forgiven or written off.

Details of the transactions are as follows:

Line Business	2000 ($000s)	1999 ($000s)
(a) Construction of subtransmission assets Approximately 15 km of 33kV underground cable laid.	1,657	2,436
(b) Construction of zone substations Upgrading of six substations	3,228	3,159
(c) Construction of distribution lines and cables. Cost of undergrounding 11kV cable WEL Energy was involved in Krone 11kV switchgear replacement.	1,699	1,624
(d) Construction of medium voltage switchgear	124	157
(e) Construction of distribution transformers.	641	588
(f) Construction of distribution substations	757	537
(g) Construction of Low voltage lines & cables WEL Energy was involved in connecting new consumers to its network and the following costs were incurred:	676	652
(h) Relays for new connections	203	368
Consumer connections	935	931
(i) Maintenance of distribution system	3,964	3,827
	13,884	14,279

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

VUW Te Waharoa — NZ Gazette 2000, No 116

Gazette.govt.nz — NZ Gazette 2000, No 116

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

✨ LLM interpretation of page content

🏭 WEL Energy Group Limited Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Transactions, Related Party Transactions, Construction Costs, Maintenance Costs, Market Rates, WEL Energy Group

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