New Zealand Gazette – 2006 – No. 149

Page 4310

✨ Financial Statements



TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

NOTES TO THE FINANCIAL STATEMENTS continued

FOR THE YEAR ENDED 30 JUNE 2006

2. OPERATING REVENUE

LINES BUSINESS LINES BUSINESS
2006
$000
Transmission services revenue 506,285
Other revenue 1,535
Total operating revenue 507,820

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:

2006 2005
Revenue provided to Lines Business from Other Transpower Businesses 229 229
Revenue - AC loss rental rebates 88,660 58,690
Expensa - AC loss rental rebates (88,660) (58,690)
AC loss rental rebates not passed through to customers - -

3. OPERATING EXPENSES

LINES BUSINESS LINES BUSINESS
2006
$000
Business support costs 33,274
Asset operation and maintenance costs 140,905
Industry Levies 10,406
Charges in respect of assets:
Depreciation - Buildings 2,808
Depreciation - Substations 37,247
Depreciation - HVDC 24,884
Depreciation - Communication assets 7,036
Depreciation - Administration assets 11,490
Depreciation - Transmission lines 34,174
Stock and asset write-offs 9,422
Charges in respect of receivables:
Bad debts written off 14
Movement in the provision for doubtful debts -
Provision for industry related costs -
Directors' fees 336
Study grants and donations 602
Lease and rental costs 7,986
Total operating expenses 320,844

Net loss on the disposal of assets included in stock and asset write-offs:

2006 2005
Net loss on the disposal of assets 9,422 5,861

Electricity regulations additional disclosures:

2006 2005
Employee salaries and redundancies 37,260 36,870
Human resource expenses 5,675 5,692
Marketing / advertising expenses 1,266 556
Legal and consultancy expenses 11,213 7,574
Corporate and administration expenses 19,885 19,326
Transfer payments to “Other Transpower Businesses” 12,305 11,928
Payment for metering data 1,825 1,333
Payment for IT support 274 -
Payment for insurance 10,206 10,595
Total transfer payments to “Other Transpower Businesses” 12,305 11,928
2006 2005
Local authority rates expense 2,311 1,864
Consumer billing and information system expense 224 1,132
Depreciation of system assets 104,737 101,026
Depreciation of other assets 12,902 13,375
Total depreciation 117,639 114,401
Bad debts written off 14 -
Movement in the provision for doubtful debts - -
Total cost of offering credit 14 -


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Online Sources for this page:

VUW Te Waharoa — PDF NZ Gazette 2006, No 149


Gazette.govt.nz — PDF NZ Gazette 2006, No 149




✨ LLM interpretation of page content

🏭 Notes to the Financial Statements for Transpower New Zealand Limited Lines Business (continued from previous page)

🏭 Trade, Customs & Industry
24 November 2006
Financial Instruments, Accounting Policies, NZ IFRS, Taxation, Transpower, Lines Business, 2006