β¨ Financial Statements Notes
NGC HOLDINGS LIMITED
GAS TRANSMISSION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 JUNE 2007
12. CONTINGENT LIABILITIES
The directors are aware of claims against entities within the Vector group and, where appropriate, have recognised provisions for these within the financial statements. No other material contingencies requiring disclosure have been identified (30 June 2006: nil).
13. RELATED PARTY TRANSACTIONS
| NATURE OF THE TRANSACTION | RELATED PARTY | 2007 $\'000 | 2006 $\'000 |
|---|---|---|---|
| Sale of transmission services based on actual revenue charged and | |||
| notional revenue charged. | Gas Wholesaling Activities | 316 | 645 |
| Sale of transmission services based on actual revenue charged and | |||
| notional revenue charged. | Gas Retailing Activities | 30,885 | 30,591 |
| Purchase of own use gas on standard terms and conditions. | Gas Retailing Activities | 3,456 | 3,279 |
| Operational gas swap arrangements. | Gas Wholesaling Activities | 198 | 768 |
| Purchase of mechanical services at market rates for the maintenance | |||
| of export compressor based at Kapuni. | Kapuni Gas Treatment Plant | 715 | 1,010 |
| Debt funding | Vector Limited | 223,119 | 231,633 |
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Online Sources for this page:
VUW Te Waharoa —
NZ Gazette 2007, No 132
Gazette.govt.nz —
NZ Gazette 2007, No 132
β¨ LLM interpretation of page content
π°
Notes to the Financial Statements
(continued from previous page)
π° Finance & RevenueFinancial statements, Contingent liabilities, Related party transactions, Gas transmission, Vector group, Gas Wholesaling Activities, Gas Retailing Activities, Kapuni Gas Treatment Plant, Vector Limited