New Zealand Gazette – 2002 – No. 121

Page 3236

✨ Electricity Information Disclosure



3236 NEW ZEALAND GAZETTE No. 121

The Line Business purchased goods and services at cost, including overheads where applicable, from the Other Business. The value of the transactions, parties involved, and description of goods or services purchased were as follows:

The Power Company Limited Line Business purchased from PowerNet Limited Other Business:

31 March 2002 31 March 2001
$000 $000
Construction of:
✓ Subtransmission assets 837 1,379
✓ Zone substations 4,865 3,240
✓ Distribution lines and cables 1,817 390
✓ Medium voltage switchgear 196 188
✓ Distribution transformers 1,416 1,041
✓ Distribution substations - -
✓ Low voltage lines and cables 154 83
✓ Other system fixed assets - 59

The above amounts represent the capital works programme undertaken by PowerNet Limited on behalf of The Power Company Limited.

| Maintenance of assets | - | - |
| Consumer connections and disconnections | - | - |

PowerNet Limited’s Line Business purchased from The Power Company Limited Other Business:

31 March 2002 31 March 2001
$000 $000
Rent 19 32

The value of transactions owing at balance date were as follows:

The Power Company Limited Line Business owes PowerNet Limited Other Business $662,000 (2001 $1,120,000).

PowerNet Limited’s Line Business owes The Power Company Limited Other Business $1,000 (2001 $3,000).

The Southland Electric Power Supply Consumer Trust, which owns 100% of the shares in The Power Company Limited, is a related party. During the year expenses are paid out on behalf of the Trust, at 31 March 2002 these totalled $122,000 (2001 $80,000). A dividend of $103,000 (2001 $144,000) was paid during the year.

No related party debts have been written off or forgiven during 2002 or 2001.

11. Annual Valuation Reconciliation Report

31 March 2002 31 March 2001
$000 $000
System fixed assets at ODV – end of the previous financial year 172,264 143,941
Less recalibration of system fixed assets (22,351) -

| Revised system fixed assets – end of the previous financial year | 149,913 | 143,941 |
| Add system fixed assets acquired during the year at ODV | 10,024 | 4,031 |
| Less system fixed assets disposed of during the year at ODV | (268) | (1,945) |
| Less depreciation on system fixed assets at ODV | (7,247) | (4,605) |
| Add revaluations of system fixed assets | - | 30,842 |

| System fixed assets at ODV – end of the financial year | 152,422 | 172,264 |



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2002, No 121


Gazette.govt.nz — PDF NZ Gazette 2002, No 121




✨ LLM interpretation of page content

🏭 Electricity Information Disclosure for The Power Company Limited (continued from previous page)

🏭 Trade, Customs & Industry
7 August 2002
Electricity, Information Disclosure, Regulations, The Power Company Limited, Financial Statements, Operating Lease Commitments, Financial Instruments, Credit Risk, Foreign Exchange Risk, Interest Rate Risk, Fair Values, Related Parties