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New Zealand Gazette – 2008 – No. 30

Page 660

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✨ Financial Commitments and Transactions

14. Commitments

Capital commitments

At balance date, there was $1,683,982 expenditure contracted for and approved by the company (2006 - $663,292).

Operating lease commitments

Lease commitment under non-cancellable operating leases

	2007
	$'000
Not later than one year	27
Within one to two years	13
Within two to five years	4
Total	44

	2006
	$'000
Not later than one year	42
Within one to two years	-
Within two to five years	-
Total	42

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 $5,004,450 (2006 - $2,910,000). The amount owed to Electra Contracting at year end is $858,026 (2006 - $249,884).

Description	2007
	$'000
(a.) Construction of subtransmission assets	52
(b.) Construction of zone substations	847
(c.) Construction of distribution lines and cables	446
(d.) Construction of medium voltage switchgear	470
(e.) Construction of distribution transformers	1,138
(f.) Construction of distribution substations	-
(g.) Construction of low voltage reticulation	230
(h.) Construction of other system fixed assets	22
(i.) Maintenance of assets	1,800
(j.) Consumer connections and disconnections	-

Description	2006
	$'000
(a.) Construction of subtransmission assets	55
(b.) Construction of zone substations	3
(c.) Construction of distribution lines and cables	151
(d.) Construction of medium voltage switchgear	190
(e.) Construction of distribution transformers	618
(f.) Construction of distribution substations	-
(g.) Construction of low voltage reticulation	147
(h.) Construction of other system fixed assets	72
(i.) Maintenance of assets	1,674
(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 2008, No 30

Gazette.govt.nz — NZ Gazette 2008, No 30

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✨ LLM interpretation of page content

💰 Capital Commitments

Domain💰 Finance & Revenue
KeywordsCapital expenditure, Contracts, Approval

💰 Operating Lease Commitments

Domain💰 Finance & Revenue
KeywordsLease commitments, Non-cancellable leases, Financial obligations

💰 Transactions with Related Parties

Domain💰 Finance & Revenue
KeywordsRelated party transactions, Construction services, Maintenance services

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