✨ Westpower Limited Information Disclosure
NEW ZEALAND GAZETTE
No. 127
3424
(c) Fixed Assets and Depreciation
(i) Valuation
Fixed Assets comprise:
Distribution System Assets (being the network system consisting of distribution and transmission lines and cables, zone substations, distribution transformers, protection and control equipment, communications equipment and metering).
Other Assets (being land, buildings, plant and equipment, motor vehicles, furniture and fittings).
Distribution System Assets have been revalued to Optimised Deprival Value which incorporates a valuation based on the engineering optimisation of the system and its components after allowing for depreciation and is based on the value to the company of being deprived of the assets. The valuation was conducted by KPMG in conjunction with Kerslake and Partners, Registered Valuers, as at 31 March 2003.
Land and Buildings have been revalued to market value as at 31 March 2000. The valuation was conducted by Coast Valuations Limited, registered valuers.
All other fixed assets are valued at cost less accumulated depreciation where applicable.
Distribution equipment is revalued on a cyclical basis with no individual asset being included at a valuation made more than three years previously.
Additions between revaluations are recorded at cost.
(ii) Depreciation
Distribution Assets are depreciated using the straight line method at rates which amortise the cost or valuation less estimated residual value over their economic lives.
The main basis are periods not exceeding:
Electricity Distribution System 15 – 70 years
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2003, No 127
Gazette.govt.nz —
NZ Gazette 2003, No 127
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