✨ Financial and Business Relationships
14 NOVEMBER 2005
NEW ZEALAND GAZETTE, No. 191
4769
- Related Party Transactions
The following transactions occurred during the period with Related Parties:
| Distribution | 2005 $ | 2004 $ | Retail 2005 $ | 2004 $ |
|---|---|---|---|---|
| Wanganui District Council by virtue of it's 100% ownership of WDCHL (74.9% Shareholder) | ||||
| ( C E Poynter, Mayor to October 04)( P A Bullock, Councillor to October 04) | ||||
| Rent | $ 68,014 | $ 71,189 | $ 28,985 | $ 25,725 |
| Information Services Support | $ 41,716 | $ 58,823 | $ 36,408 | $ 48,179 |
| Plant hire | $ - | $ 4,984 | $ - | $ 6,097 |
| Rates | $ 36,084 | $ 28,086 | $ 1,243 | $ 4,406 |
| Other | $ 298 | $ 7,159 | $ 318 | $ 8,758 |
| $ 146,112 | $ 170,241 | $ 66,954 | $ 93,165 |
NGC by virtue of it's 100% ownership of NGC Investments Ltd (25.1% Shareholder)
( S L Bielby, General Counsel, K M Baker, Chief Financial Officer,
M P Stiassny, Chairman)
Gas Purchases & Transmission Services | $ - | $ - | $ 9,865,675 | $ 7,299,281
Other | $ 10,981 | $ 4,291 | $ 11,716 | $ 5,250
| $ 10,981 | $ 4,291 | $ 9,877,391 | $ 7,304,531
WGL Transactions to NGC
Transport Related Charges | $ 55,921 | $ 93,342 | $ - | $ -
Gas Trading | $ - | $ - | $ 213,457 | $ 390,398
Other | $ 304 | $ - | $ - | $ -
| $ 56,225 | $ 93,342 | $ 213,457 | $ 390,398
Amounts Owed to Related Parties at Balance date were:
Wanganui District Council | $ 3,015 | $ 2,806 | $ 1,381 | $ 1,535
NGC | $ 773 | $ 409 | $ 695,045 | $ 695,471
All Transactions were conducted on normal commercial terms.
NGC Shares purchased following Rights Issue (2004)
Wanganui Gas Ltd is a company owned by Wanganui District Council Holdings Ltd
WDCHL ( a Council Controlled Organisation of Wanganui District Council ) and NGC
Investments Ltd ( a subsidiary of NGC Holdings Ltd). By virtue of its 74.9% shareholding
WDCHL has significant influence on the role of Wanganui Gas Ltd.
The Company has supplied energy to the Wanganui District Council on a arm's length
basis for which related party disclosures have not been made.
There are no other related party transactions.
- Prescribed Business Relationships
Under Regulation 22 of the Gas (Information Disclosure) Regulations 1997 total costs and revenue
must be disclosed for goods and services provided between entities in prescribed business
relationships. 'Distribution' and 'Retail' fall within the Gas (Information Disclosure) Regulations 1997
definition of a prescribed business relationship (Regulation 3).
| 2005 $ | 2004 $ | |
|---|---|---|
| Distribution Revenue from Retail | ||
| Gas Distribution Tariffs * | $ 3,194,980 | $ 3,270,859 |
| Distribution Debtors from Retail | ||
| Wanganui Gas Ltd - Distribution * | $ 362,367 | $ 335,965 |
- Tariff represents revenue to Distribution for the transportation of gas through its distribution network.
The value of transactions is calculated by applying current published Distribution tariffs to actual Retail
throughput gas volumes and connection numbers. Transactions represent a book entry only. Debtor
represents June revenue - assumed to be paid in the subsequent month.
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 191
Gazette.govt.nz —
NZ Gazette 2005, No 191
✨ LLM interpretation of page content
💰 Related Party Transactions
💰 Finance & RevenueFinancial transactions, Wanganui District Council, NGC, Wanganui Gas Ltd, Shareholders, Rent, Information Services Support, Plant hire, Rates, Gas Purchases, Transport Related Charges, Gas Trading
- C E Poynter, Mayor to October 04
- P A Bullock, Councillor to October 04
- S L Bielby, General Counsel
- K M Baker, Chief Financial Officer
- M P Stiassny, Chairman
🏭 Prescribed Business Relationships
🏭 Trade, Customs & IndustryGas Information Disclosure Regulations, Business relationships, Distribution, Retail, Gas Distribution Tariffs, Distribution Debtors