New Zealand Gazette – 2001 – No. 96

Page 2480

✨ Financial Statements

2480 NEW ZEALAND GAZETTE No. 96

14. Related Parties

Otago Power Limited operated the Operations Business Unit within its company structure that constructed and maintained assets on its behalf. On 1 September 2000 the Operations Business Unit was established as Otago Power Services Limited, a fully owned subsidiary of Otago Power Limited.

Goods and Services Provided by the Operations Business Unit were:

	31 March 2001	31 March 2000
	$000	$000
Construction of:
➤ Subtransmission assets	2	714
➤ Zone substations	84	391
➤ Distribution lines and cables	204	607
➤ Medium voltage switchgear	12	-
➤ Distribution transformers	45	362
➤ Distribution substations	9	-
➤ Low voltage lines and cables	-	-
➤ Other system fixed assets	-	43

Maintenance of assets	796	2,107
Consumer connections and disconnections	-	-

These transactions were recorded at cost plus an allowance for overheads.

At year end no monies were owed to the Operations Business Unit.

Goods and Services Provided by Otago Power Services Limited were:

	31 March 2001	31 March 2000
	$000	$000
Construction of:
➤ Subtransmission assets	3	-
➤ Zone substations	142	-
➤ Distribution lines and cables	367	-
➤ Medium voltage switchgear	8	-
➤ Distribution transformers	80	-
➤ Distribution substations	2	-
➤ Low voltage lines and cables	4	-
➤ Other system fixed assets	9	-

Maintenance of assets	644	-
Consumer connections and disconnections	-	-

Capital work is subject to open tender or competitive pricing.

Maintenance work is charged in accordance with a competitively priced facilities management contract established for a fixed term.

At year end $313,000 was owing to Otago Power Services Limited.

VUW Te Waharoa — NZ Gazette 2001, No 96

Gazette.govt.nz — NZ Gazette 2001, No 96

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✨ LLM interpretation of page content

🏭 Otago Power Limited Financial Statements (continued from previous page)

Domain🏭 Trade, Customs & Industry
Dated9 August 2001
KeywordsFinancial Statements, Electricity, Information Disclosure, Otago Power Limited

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