28 JUNE NEW ZEALAND GAZETTE 1609

The Contracting Business (continued):

                                                             2000      1999      1998      1997
                                                             $000      $000      $000      $000

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. In respect of 1999, these cover the period 1 April 1998 to 30 June 1998.

DISCLOSURE OF INFORMATION REQUIRED TO BE DISCLOSED IN FINANCIAL STATEMENTS UNDER REGULATION 6 OF THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 1999 SCHEDULE 1 PART 2

                                                             2000      1999
                                                             $000      $000

1. Current Assets
   (a) Bank, cash, short-term investments - 1,599
   (b) Trade Debtors 1,136 8,328
   (c) Other Debtors - 9
   (d) Prepayments - -
   (e) Electricity hedges - -
   (f) Other current assets not listed in (a) to (e): 125 -
   (g) Total current assets 1,261 9,936

2. Fixed Assets
   (a) System fixed assets 192,568 71,212
   (b) Centralised load control equipment 649 227
   (c) Customer billing and information system assets - -
   (d) Motor Vehicles - -
   (e) Office Equipment 3 4
   (f) Land and Buildings 3,665 3,770
   (g) Capital works under construction
   (i) Subtransmission assets (transfer payments) - -
   (ii) Zone substations (transfer payments) - -
   (iii) Distributions lines & cables (transfer payments) 652 35
   (iv) Medium voltage switchgear (transfer payments) - -
   (v) Distribution transformers (transfer payments) 326 35
   (vi) Distribution substations (transfer payments) 652 20
   (vii) Low voltage lines and cables (transfer payments) - -
   (viii) Other system fixed assets (transfer payments) - -
   (h) Other fixed assets not listed in (a) to (g) : 138 -
   (i) Total fixed assets 198,653 75,303
   (j) Other tangible assets not listed above.

3. Total Intangible Assets
   (a) Goodwill - -
   (b) Other intangible assets not listed in (a) - -
   (c) Total intangible - -

4. Total Assets 199,914 85,239