✨ Financial Transactions and Business Operations
5 SEPTEMBER NEW ZEALAND GAZETTE
Network operation and maintenance is charged in accordance with a Fixed Term Contract.
All capital work is subject to open tender, established market rates, or competitive pricing.
At Balance Date $2,029,880 was owed to DELTA Utility Services Ltd. Of this, $1,253,630 was due and payable on 20 April, while $776,250 was being withheld in accordance with the Contract until year-to-date reliability levels were achieved.
Other Line Business Related Parties:
The Lines Business has a borrowing facility with Dunedin City Treasury Ltd. During the year it paid $7.989 million interest (1999 nil) and as at 31 March 2000 $112 million of loan monies were outstanding (1999 nil).
During the year the Lines Business also undertook the following transactions with Dunedin City Holdings Ltd:
- Purchase of subvention expense $2.0 million (1999 nil)
- Dividends provided $2.0 million (1999 $5.769 million)
As at 31 March 2000, $1.45 million was outstanding.
The Generation Business:
| 2000 | 1999 | 1998 | 1997 | |
|---|---|---|---|---|
| $000 | $000 | $000 | $000 |
Purchased the following service from the Line Business:
- Waipori 33kV use-of-system fee ... - | 65 | 92 | 92 |
Supplied the following service to the Line Business:
- Share of avoided Transpower charges associated with the Waipori 33kV connection ... - | 651 | 957 | 400 |
| Net Revenue | - | 586 | 865 | 308 |
Purchased the following services from DELTA Utility Services Ltd:
- Operation and maintenance of the Waipori facility ... - | 376 |
- Development and miscellaneous work ... - | 152 |
Charged for in accordance with an agreed formula based on market rates.
At balance date no monies were owing to DELTA Utility Services Ltd.
The Contracting Business:
| 2000 | 1999 | 1998 | 1997 | |
|---|---|---|---|---|
| $000 | $000 | $000 | $000 |
Supplied the following services to the Network Business:
- Maintenance associated with distribution substations ... - | 132 | 577 | 755 |
- Maintenance associated with LV and HV lines and cables ... - | 543 | 2,225| 2,368|
- Maintenance associated with zone substations ... - | 192 | 728 | 526 |
- Maintenance associated with sub transmission ... - | 88 | 473 | 509 |
- Maintenance associated with system control operation ... - | 135 | 335 | 105 |
| Total | - | 1,090| 4,338| 4,263|
Capital work relating to the development/improvement of the Network ... - | 279 | 834 | 1,088|
In respect of the maintenance work, approximately 50% is subject to open tender with the remaining balance being charged on unit or market rates. All capital work is subject to open tender or established market rates.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 122
Gazette.govt.nz —
NZ Gazette 2000, No 122
✨ LLM interpretation of page content
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Disclosure of Information Relating to Transactions Between Persons in a Prescribed Business Relationship and Related Parties
(continued from previous page)
💰 Finance & RevenueFinancial Transactions, Maintenance Services, Capital Work, Open Tender, Market Rates