NEW ZEALAND GAZETTE, No. 137

23 AUGUST 2005

Operating expenditure

12

(a) Payment for transmission charges:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 1,797 | 1,769 |

(b) Transfer payments to the "Other" business for-

(i) Asset maintenance:

(ii) Consumer disconnection/reconnection services:

(iii) Meter data:

(iv) Consumer-based load control services:

(v) Royalty and patent expenses:

(vi) Avoided transmission charges on account of own generation:

(vii) Other goods and services not listed in (i) to (vi):

(viii) Total transfer payment to the "Other" business (sum of (i) to (vii)):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 0 | 0 |

(c) Expense to entities that are not related parties for-

(i) Asset maintenance:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 485 | 348 |

(ii) Consumer disconnection/reconnection services:

(iii) Meter data:

(iv) Consumer-based load control services:

(v) Royalty and patent expenses:

(vi) Total of specified expenses to non-related parties (sum of (i) to (v)):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 485 | 348 |

(d) Employee salaries, wages, and redundancies:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 291 | 281 |

(e) Consumer billing and information system expense:

(f) Depreciation on-

(i) System fixed assets:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 905 | 566 |

(ii) Other assets not listed in (i):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 33 | 25 |

(iii) Total depreciation (sum of (i) and (ii)):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 938 | 591 |

(g) Amortisation of-

(i) Goodwill:

(ii) Other intangibles:

(iii) Total amortisation of Intangibles (sum of (i) and (ii)):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 0 | 0 |

(h) Corporate and administration:

(i) Human resource expenses:

(ii) Marketing / advertising:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 487 | 571 |

(k) Merger and acquisition expenses:

(l) Takeover defence expenses:

(m) Research and development expenses:

(n) Consultancy and legal expenses:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 73 | 134 |

(o) Donations:

(p) Directors' fees:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 58 | 52 |

(q) Auditors' fees:

(i) Audit fees paid to principal auditors:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 14 | 13 |

(ii) Audit fees paid to other auditors:

(iii) Fees paid for other services provided by principal and other auditors:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 3 | 4 |

(iv) Total auditors' fees (sum of (i) to (iii)):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 17 | 17 |

(r) Costs of offering credit:

(i) Bad debts written off:

(ii) Increase in estimated doubtful debts:

(iii) Total cost of offering credit (sum of (i) to (ii)):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 0 | 0 |

(s) Local authority rates expense:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 11 | 9 |

(t) AC loss-rentals (distribution to retailers/customers) expense:

(u) Rebates to consumers due to ownership interest:

(v) Subvention payments:

(w) Unusual expenses:

(x) Other expenditure not listed in (a) to (w):

13 Total operating expenditure (sum of 12(a) to 12(x)):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 4,157 | 3,762 |

14 Operating surplus before interest and income tax (11-13):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 2,879 | 3,146 |

15 Interest expense

(a) Interest expense on borrowings:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 52 | 86 |

(b) Financing charges related to finance leases:

(c) Other interest expense not listed in (a) or (c):

(d) Total interest expense (sum of (a) to (c)):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 52 | 86 |

16 Operating surplus before income tax (14-15(d)):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 2,827 | 3,060 |

17 Income tax:

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 1,057 | 860 |

18 Net surplus after tax (16-17):

| | 2005
($000) | | 2004
($000) |
|----------------|-----------|-----------|
| | 1,770 | 2,200 |