New Zealand Gazette – 2005 – No. 166

Page 4182

✨ Financial Statements Notes



4182

NEW ZEALAND GAZETTE, No. 166

30 SEPTEMBER 2005

Notes to and Forming Part of the Financial Statements
For the year ended 30 June 2005

POWERCO

ELECTRICITY DIVISION

11 Taxation

Taxation for the year ended 30 June 2005

Operating surplus before taxation

Prima facie taxation @ 33%

Plus/(less) tax effect of permanent timing differences:

Taxation expense

2005
12 mths
$000
49,636
16,380

$16,380

2004
12 mths
$000
65,231
21,528

$21,528

12 Disclosure of Performance Measures Pursuant to Requirement 15(1) and Part III of the First Schedule of the Electricity Information Disclosure Regulations 2004

Financial Performance Measures

(i) Return on Funds

(ii) Return on Equity

(iii) Return on Investment including revaluation

(iv) Return on Investment excluding revaluation

Efficiency Performance Measures

(v) Direct Line Cost per Kilometre

(vi) Indirect Line Cost per Electricity Customer (including non-recurring costs)

(vii) Indirect Line Cost per Electricity Customer (excluding non-recurring costs)

2005
10.02%
8.51%
6.71%
6.71%
$1,080.45
$95.78
$87.82

2004
12.50%
10.52%
37.94%
6.77%
$1,117.21
$65.87
$65.86

2003
14.42%
12.70%
9.66%
9.66%
$986.50
$76.43
$68.09

2002
14.26%
12.22%
9.55%
9.55%
$949.08
$77.61
$77.61

13 Contingent Liabilities and Commitments

As Powerco Limited 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 against Transpower Limited. The Plaintiffs allege various breaches of the Commerce Act 1986 and claim various declarations and injunctions together with damages. The damages amount is presently unquantified. 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.

Commitments

Commitments for future capital expenditure resulting from contracts entered into:
Tasmanian gas network

2005
12 mths
$000
4,947
60,854
65,801

2004
12 mths
$000
5,248
40,548
45,796



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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2005, No 166


Gazette.govt.nz — PDF NZ Gazette 2005, No 166




✨ LLM interpretation of page content

🏭 Powerco Limited Financial Statements Notes (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Taxation, Performance Measures, Contingent Liabilities, Capital Expenditure, Powerco Limited, Electricity Division