New Zealand Gazette – 2008 – No. 186

Page 4882

✨ Transpower Financial Statements



4882 NEW ZEALAND GAZETTE, No. 186 28 NOVEMBER 2008

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

Upgrade (NIGU).

In August 2007 Minister Hodgson, acting on behalf of the Acting Minister for the Environment "called in" Transpower’s notices of requirement and applications for resource consent for the NIGU project. The Minister then appointed an independent Board of Inquiry to hear and consider submissions and make decisions on the proposal. The hearing commenced on 25 March 2008 and the Board of Inquiry is expected to announce its decision on the notices of requirement and resource consent applications towards the end of calendar 2008.

On 19 December 2007 New Era Energy (NEE) filed judicial review proceedings against the Electricity Commission’s decision to approve the NIGU project. NEE is an incorporated society that co-ordinates the efforts of six local action groups along Transpower’s proposed NIGU route.

Capital work in progress can be split into the following classes:

2007 2008
HVAC transmission lines 280.7 2,500.0
HVDC transmission lines 99,908 93,003
HVDC substations and submarine cables 103,463 159
Communications 6,293 13,463
Administration assets 7,142 6,293
Software intangible assets 30,735 7,915
Other intangible assets 12,167 18,588
Total 251,421 316,785

LINES BUSINESS

2007 2008
HVAC transmission lines 3,829 6,423
HVDC transmission lines 2,626 3,695
HVDC substations and submarine cables 233 233
Communications 1,322 1,250
Administration assets 71 71
Software intangible assets 1,750 1,746
Other intangible assets - 9,165
Total 9,165 23,583

During the year the following borrowing costs were capitalised:

2007: 7.5% 2008: 7.2%
HVAC transmission lines 54 416
HVDC transmission lines 476 584
HVDC substations and submarine cables 2 3
Communications 32 55
Administration assets 1 1
Software intangible assets 74 97
Other intangible assets - 1,392
Total 639 2,548

These costs were capitalised at the weighted average cost of debt of 7.5% (2007: 7.2%)

Electricity regulations additional disclosures:

2008 2007
Motor vehicles 662 1,399
Office equipment 1,098 316
Land and buildings 225,385 225,385
Customer billing and information assets 3,935 -


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Gazette.govt.nz — PDF NZ Gazette 2008, No 186




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🏭 Transpower New Zealand Limited Lines Business Financial Statements (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statements, Property, Plant, Equipment, HVAC Transmission, Subtransmission, Zone Substations, Distribution Substations, Communications Cables, Administration Assets, Capital Work in Progress