5 DECEMBER 2008 NEW ZEALAND GAZETTE, No. 189 4987

Statement of Performance Measures

For the Year ended 30 June 2008
For the purposes of the Gas (Information Disclosure) Regulations 1997
Regulations 15, 17, & 18

1. Financial Performance Measures

Accounting Return on Total Assets | Sch 1 Pt 2 (1)(a) | 12.25% | 1.10% | 7.83% | 8.89% | 9.39% | 8.92% | 8.21% |
Accounting Return on Equity | Sch 1 Pt 2 (1)(b) | 12.27% | -0.02% | 5.18% | 7.06% | 4.66% | 9.27% | 6.25% |
Accounting Rate of Profit Including Network Revaluation | Sch 1 Pt 2 (1)(c) | 15.83% (2)| -0.20% | 34.34% (1)| 7.14% | 6.92% | 13.57% | 4.57% |
Accounting Rate of Profit Excluding Network Revaluation | | 12.77% | 0.07% | 6.63% | 7.14% | 6.92% | 10.54% | 4.84% |

Note: The Accounting Rate of Profit Excluding Network Revaluation is not required by the Gas (Information Disclosure) Regulations 1997.

The figures in italics have been adjusted to exclude the subvention payment to WBC and the resulting profit taxed at 33% (2007: 33%). This has been provided for ease of comparison to previous financial years.

2. Efficiency Performance Measures

Direct Line Costs per Kilometre | Sch 1 Pt 2 (2)(a) | $2,916 | $2,416 | $2,068 | $1,907 | $1,990 |
Indirect Line Costs per Gas Customer | Sch 1 Pt 2 (2)(b) | $84 | $73 | $62 | $58 | $40 |

3. Energy Delivery Efficiency Performance Measures

Load Factor | Sch 1 Pt 3 (1)(a) | 80.10% | 79.50% | 75.77% | 74.02% | 70.80% |
Unaccounted for Gas Ratio | Sch 1 Pt 3 (1)(b) | 1.60% | 1.80% | 1.80% | 1.80% | 1.80% |

4. Statistics

System Length (km) | Sch 1 Pt 3 (2)(a) | 366 | 365 | 362 | 360 | 357 |
Maximum Monthly Amount of Gas Entering System (GJ) | Sch 1 Pt 3 (2)(b) | 107,645 | 110,651| 113,872| 125,474| 131,678|
Total Annual Amount of Gas Conveyed through System (GJ) | Sch 1 Pt 3 (2)(c) | 1,034,957| 1,055,279| 1,035,434| 1,114,509| 1,118,772|
Total Annual Amount of Gas Conveyed through System for Persons not in a Prescribed Business Relationship (GJ/pa) | Sch 1 Pt 3 (2)(d) | 542,665 | 538,798 | 507,347 | 403,317 | 253,888|
Total Number of Customers | Sch 1 Pt 3 (2)(e) | 10,331 | 10,326 | 10,581 | 10,776 | 10,874 |

5. Reliability Performance Measures

Unplanned Transmission System Interruptions (hours) | Sch 1 Pt 4 1 | nil | nil | nil | nil | 11098 |
Unplanned Distribution System Interruptions not related to Transmission System Interruptions (hours/customer) | Sch 1 Pt 4 2(a) | 0.018 | 0.0152 | 0.0216 | 0.1743 | 0.1096 |
Unplanned Distribution System Interruptions related to Transmission System Interruptions (hours/customer) | Sch 1 Pt 4 2(b) | nil | nil | nil | nil | 1.0094 |
Unplanned Distribution System Interruptions as a result of third party damage (hours/customer) | | 0.0116 | 0.0067 | 0.0157 | 0.1557 | 0.0092 |
Unplanned Distribution System Interruptions not as a result of third party damage (hours/customer) | | 0.0064 | 0.0085 | 0.0059 | 0.0186 | 0.1004 |

Note: The last two performance measures are not required by the Gas (Information Disclosure) Regulations 1997.

1. The increase in percentage is due to the revaluation carried out during the year.
2. The increase in percentage is due to the revaluation carried out during the year and the reversal of the subvention payment.