✨ Financial Statements
Notes to and Forming Part of the Financial Statements
For the Year Ending 31 March 2002
9 DISCLOSURE OF PERFORMANCE MEASURES PURSUANT TO REGULATION 15(2) AND PART III OF THE FIRST SCHEDULE OF THE ELECTRICITY (INFORMATION DISCLOSURE) REGULATIONS 2000
| Financial Performance Measures | Line 2002 | Line 2001 | Line 2000 | Line 1999 |
|---|---|---|---|---|
| (i) Return on Funds | 14.26% | 10.43% | 10.77% | 9.92% |
| (ii) Return on Equity | 12.22% | 8.58% | 14.65% | 8.28% |
| (iii) Return on Investment including | 9.55% | 4.04% | 10.66% | 6.21% |
| revaluation | ||||
| (iv) Return on Investment excluding | 9.55% | 6.70% | 7.64% | 6.21% |
| revaluation |
| Efficiency Performance Measures | ||||
|---|---|---|---|---|
| (v) Direct Line Cost per Kilometre | $949.08 | $1,152.23 | $1,049.72 | $752.98 |
| (vi) Indirect Line Cost per Electricity | $77.61 | $120.12 | $61.98 | $71.71 |
| Customer (including non-recurring costs) | ||||
| (vii) Indirect Line Cost per Electricity | $77.61 | $69.34 | - | - |
| Customer (excluding non-recurring costs) |
10 CONTINGENT LIABILITIES AND COMMITMENTS
Contingencies
As Powerco is an integrated business, this disclosure relates to the business as a whole.
The company has been named as a Second Defendant in a claim issued by Todd Energy Limited and Kiwi Co-operative Dairies Limited against Transpower Limited. The plaintiffs allege various breaches of the Commerce Act 1986 and claim various declarations and injunctions together with damages totaling $19.9 million. However, on 25 October 2001, Kiwi Co-operatives Dairies Limited discontinued its proceedings against Powerco. This leaves Todd Energy Limited as the only plaintiff in the proceedings. The claim is being defended by Powerco, which contends that it is not in breach of any of its obligations. No provision for the claim has been included in the financial statements.
Capital Commitments
As Powerco is an integrated business, this disclosure relates to the business as a whole.
Commitments for future capital expenditure resulting from contracts entered into amounts to $840,000 (2001: $16,000).
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 129
Gazette.govt.nz —
NZ Gazette 2002, No 129
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Powerco Limited Notes to the Financial Statements
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