✨ Financial Statements
2124
NEW ZEALAND GAZETTE
No. 87
NETWORK TASMAN LIMITED
LINE BUSINESS FINANCIAL STATEMENTS
NOTES TO THE FINANCIAL STATEMENTS
STATEMENT OF MOVEMENTS IN EQUITY
15. SEGMENT INFORMATION
The operations of Network Tasman Limited are in one geographical area, being the wider Nelson and Tasman regions, excluding Nelson city. Therefore, there is no segmental information.
16. COMMITMENTS
Network Tasman Limited has entered into a New Investment Contract with Transpower New Zealand Limited to upgrade Transpower’s Grid to ensure a greater security of supply to the Network Tasman network.
The commitment is estimated at $248,000 per annum for a period of 15 years, subject to notification by Transpower of the actual charge on commissioning of the project.
Network Tasman Limited has contracted with Tasman Electrical Limited (now MainPower Contracting Limited) for the installation of two new 33kV underground feeder cables. The total commitment is $560,000.
17. CONTINGENCIES
Network Tasman Limited has issued court proceedings against Transpower New Zealand Limited in respect of the Output Connection Contract.
There is no adverse financial exposure to Network Tasman Limited except for associated legal costs.
As at 31 March 2000 there were no material contingent liabilities that are not included in these financial statements.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2000, No 87
Gazette.govt.nz —
NZ Gazette 2000, No 87
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