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New Zealand Gazette – 2006 – No. 124

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✨ Financial Commitments and Transactions

14. Commitments

Capital commitments

At balance date, there was $663,292 expenditure contracted for and approved by the company (2005 - $4,500).

Operating lease commitments

Lease commitment under non-cancellable operating leases

| | 2006
($000) | 2005
($000) |
|------------------|--------|--------|
| Not later than one year | 42 | 37 |
| Within one to two years | - | 12 |
| Within two to five years | - | - |
| Total | 42 | 49|

15. Transactions with related parties

During the year the Company purchased construction and maintenance services from its wholly owned subsidiary, Electra Contracting Limited, to an amount of $2,910,000 (2005 - $3,348,000). The amount owed to Electra Contracting at year end is $249,884 (2005 - $430,000).

| | 2006
($000) | 2005
($000) |
|--------------------------------------|--------|--------|
| (a.) Construction of subtransmission assets | 55 | 194 |
| (b.) Construction of zone substations | 3 | 61 |
| (c.) Construction of distribution lines and cables | 151 | 360 |
| (d.) Construction of medium voltage switchgear | 190 | 254 |
| (e.) Construction of distribution transformers | 618 | 771 |
| (f.) Construction of distribution substations | - | - |
| (g.) Construction of low voltage reticulation | 147 | 144 |
| (h.) Construction of other system fixed assets | 72 | 1 |
| (i.) Maintenance of assets | 1,674 | 1,563 |
| (j.) Consumer connections and disconnections | - | - |

No related party debts have been written off or forgiven during this, or last year.

VUW Te Waharoa — NZ Gazette 2006, No 124

Gazette.govt.nz — NZ Gazette 2006, No 124

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✨ LLM interpretation of page content

💰 Electra Limited - Financial Instruments (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial instruments, Capital commitments, Operating lease commitments, Related party transactions

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