✨ Financial Report
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
ANNUAL VALUATION RECONCILIATION REPORT
FOR THE YEAR ENDED 30 JUNE 2002
| $ million | |
|---|---|
| System fixed assets at ODV at 30 June 2001 | 1,979 |
| Add revaluation arising from Commerce Commission Audit Process | 13 |
| Revised system fixed assets at ODV at 30 June 2001 | 1,992 |
| | |
| Add system fixed assets acquired during the year at ODV | 73 |
| Less system fixed assets disposed of during the year at ODV | 5 |
| Less depreciation on system fixed assets at ODV* | 116 |
| Add revaluations of system fixed assets | 51 |
| Equals system fixed assets at ODV at 30 June 2002 | 1,995 |
*Depreciation on system fixed assets at ODV includes the Long Run Average Cost of maintaining the transmission lines.
Reconciliation of the Transpower Lines Business's depreciation to the "depreciation on the system fixed assets at ODV".
| | |
| Depreciation on system fixed assets as per the Transpower Lines Business's financial statements | 72 |
| Plus Long Run Average cost** | 44 |
| Depreciation on system fixed assets at ODV | 116 |
**Long Run Average Cost (LRAC) is the cost for a year to maintain the current service potential of transmission line. Therefore by its nature it is a proxy for the depreciation charge for the year.
| Long Run Average Cost | 44 |
| Less Service Potential Adjustment | 13 |
| Life Extending Maintenance Expenditure | 31 |
The $31 million Life Extending Maintenance is included in the "system fixed assets acquired during the year at ODV".
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2002, No 173
Gazette.govt.nz —
NZ Gazette 2002, No 173
✨ LLM interpretation of page content
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Transpower New Zealand Limited Annual Valuation Reconciliation Report
(continued from previous page)
🏭 Trade, Customs & IndustryFinancial Report, Valuation Reconciliation, System Fixed Assets, Depreciation, Long Run Average Cost, Life Extending Maintenance