✨ Financial Statements
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
NOTES TO THE FINANCIAL STATEMENTS continued
FOR THE YEAR ENDED 30 JUNE 2005
2. OPERATING REVENUE
| LINES BUSINESS | LINES BUSINESS |
|---|---|
| 2005 | 2004 |
| $000 | $000 |
| ---------------- | ---------------- |
| 509,417 | 455,416 |
| 1,264 | 1,230 |
| Total operating revenue | 510,681 |
Transmission services revenue consists of charges for the transmission of electricity from the point of generation to the point of supply.
Electricity regulations additional disclosures:
| 2005 | 2004 | |
|---|---|---|
| Revenue provided to Lines Business from Other Transpower Businesses | 75 | 71 |
| Revenue - AC loss rental rebates | 58,690 | 55,240 |
| Expense - AC loss rental rebates | (58,690) | (55,240) |
| AC loss rental rebates not passed through to customers | - | - |
3. OPERATING EXPENSES
| 2005 | 2004 | |
|---|---|---|
| $000 | $000 | |
| Business support costs | 39,026 | 39,531 |
| Asset operation and maintenance costs | 155,981 | 134,120 |
Charges in respect of assets:
| | | |
| Depreciation - Buildings | 2,540 | 2,737 |
| Depreciation - Substations | 36,107 | 35,491 |
| Depreciation - HVDC | 24,379 | 23,853 |
| Depreciation - Communication assets | 7,853 | 7,741 |
| Depreciation - Administration assets | 11,345 | 13,282 |
| Depreciation - Transmission lines | 32,177 | 31,305 |
Charges in respect of receivables:
| Stock and asset write-offs | 5,861 | 16,266 |
| Bad debts written off | - | - |
| Movement in the provision for doubtful debts | (10,000) | (8,251) |
| Provision for industry related costs | - | (5,000) |
| Directors' fees | 306 | 297 |
| Study grants and donations | 840 | 940 |
| Lease and rental costs | 3,676 | 3,069 |
| Total operating expenses | 310,091 | 295,381 |
Net loss on the disposal of assets included in stock and asset write-offs:
| Net loss on the disposal of assets| 5,861 | 15,011 |
Electricity regulations additional disclosures:
| Employee salaries and redundancies | 36,878 | 30,413 |
| Human resource expenses | 5,692 | 3,150 |
| Marketing / advertising expenses | 556 | 571 |
| Legal and consultancy expenses (including industry reform) | 7,574 | 9,357 |
| Corporate and administration expenses | 19,326 | 22,815 |
| Transfer payments to "Other Transpower Businesses" |
| Payment for metering data | 1,333 | 1,242 |
| Payment for insurance | 10,595 | 11,344 |
| Total transfer payments to "Other Transpower Businesses" | 11,928 | 12,556 |
| Local authority rates expense | 1,864 | 1,385 |
| Consumer billing and information system expense | 1,132 | 734 |
| Depreciation of system assets | 101,026 | 97,799 |
| Depreciation of other assets | 13,375 | 16,610 |
| Total depreciation | 114,401 | 114,409 |
| Bad debts written off | - | - |
| Movement in the provision for doubtful debts | - | (8,251) |
| Total cost of offering credit | - | (8,251) |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2005, No 200
Gazette.govt.nz —
NZ Gazette 2005, No 200
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Notes to the Financial Statements for Transpower New Zealand Limited Lines Business
(continued from previous page)
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