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New Zealand Gazette – 2001 – No. 110

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✨ Financial Transactions

2852

NEW ZEALAND GAZETTE

No. 110

WEL NETWORKS LIMITED

13 Related Party Transactions

The Lines Business has received services from WEL Networks Operations Division. Both entities form part of WEL Networks. 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
	2001 ($000s)	2000 ($000s)
(a) Construction of subtransmission assets	1,618	1,657
Approximately 15 km of 33kV underground cable laid.
(b) Construction of zone substations	4,034	3,228
Upgrading of six substations
(c) Construction of distribution lines and cables.	2,416	1,699
Cost of undergrounding 11 kV cable
(d) Construction of medium voltage switchgear	726	124
(e) Construction of distribution transformers.	517	641
(f) Construction of distribution substations	685	757
(g) Construction of Low voltage lines & cables	745	676
WEL Networks was involved in connecting new consumers to its network and the following costs were incurred:
(h) Relays for new connections	253	203
Consumer connections	1,609	935
(i) Maintenance of distribution system	4,263	3,964
	16,866	13,884

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

VUW Te Waharoa — NZ Gazette 2001, No 110

Gazette.govt.nz — NZ Gazette 2001, No 110

The General Assembly Library (on the right) was completed in 1899 and survived the 1907 fire. Now the oldest remaining original Parliament building, still used as the Parliamentary Library.

✨ LLM interpretation of page content

🏭 Statement of Accounting Policies for WEL Networks Limited (continued from previous page)

Domain🏭 Trade, Customs & Industry
KeywordsFinancial Statements, Related Party Transactions, Construction Costs, Subtransmission Assets, Zone Substations, Distribution Lines, Switchgear, Transformers, Substations, Low Voltage Lines, Consumer Connections, Maintenance Costs

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