✨ Financial Transactions Report
3220
NEW ZEALAND GAZETTE, No. 132
19 AUGUST 2005
Transactions with “other” businesses
For the purposes of Requirement 8, transactions taking place between the line business and “other” businesses must be identified.
The company had considerable numbers of interactions with its wholly-owned contracting subsidiary, Connetics Limited, during the years ending 31 March 2005 and 2004.
A description of the intercompany transactions, revenue amounts and balances at 31 March 2005 and 2004 follows. Note that estimated data has had to be used in the determination and apportionment of costs for Connetics into the required categories.
Connetics has provided construction and maintenance services to the line business for the period 1 April 2004 to 31 March 2005, and for a number of prior years.
These services follow the awarding of a contract based on a contested lowest-price conforming tender. In virtually every case multiple parties were invited to tender for such work. In the case of emergency maintenance, a contract comprising a negotiated schedule of rates has been agreed. A contract has also been negotiated for the management of system spares.
Contract variations and adjustments have been negotiated between the parties. No debts have been written off or forgiven during the year. Amounts are due the 20th of the month following date of invoice.
| Services provided by Connetics: | 2005 $000’s | 2004 $000’s |
|---|---|---|
| Asset maintenance | ||
| - asset storage | 215 | 190 |
| - emergency work | 2,043 | 1,876 |
| - other asset maintenance | 4,384 | 5,823 |
| 6,642 | 7,889 | |
| Asset construction | ||
| - subtransmission assets | 809 | 104 |
| - zone substations | 3,575 | 1,937 |
| - distribution lines and cables | 4,126 | 1,213 |
| - medium voltage switchgear | 752 | 1,003 |
| - distribution transformers | - | - |
| - distribution substations | 323 | 2,066 |
| - low voltage lines and cables | 3,410 | 2,383 |
| - other system fixed assets | 174 | 377 |
| 13,169 | 9,083 | |
| Other services provided to line business | ||
| - meter data | - | - |
| - consumer-based load control | - | - |
| - disconnection/reconnection services | - | - |
| - avoided transmission charges | - | - |
| - other goods and services | - | - |
| 19,811 | 16,972 | |
| Balance outstanding at 31 March | 3,095 | 2,989 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 132
Gazette.govt.nz —
NZ Gazette 2005, No 132
✨ LLM interpretation of page content
💰 Transactions with Related Businesses
💰 Finance & RevenueIntercompany transactions, Revenue, Balances, Connetics Limited, Construction, Maintenance