662 NEW ZEALAND GAZETTE, No. 30 19 FEBRUARY 2008

| 2007 | 2006 |
| $000 | $000 |

9 Equity

(a.) Shareholders’ equity -

(i) Share capital                       18,000  |   18,000  |
(ii)    Retained earnings                   9,339   |   8,818   |
(iii)   Reserves                        64,078  |   64,078  |
(iv)    Total shareholders’ equity              91,417  |   90,896  |

(b.) Minority interests in subsidiaries - | - |

(c.) Total equity 91,417 | 90,896 |

(d.) Capital notes - | - |

(e.) Total capital funds 91,417 | 90,896 |

10 Total Equity and Liabilities 109,186 | 108,141 |

11 Operating revenue

(a.) Revenue from line/access charges 24,347 | 22,253 |
(b.) Line charge discount to consumers (8,887) | (8,325) |
(c.) Revenue from “other” business for services
carried out by the line business (transfer
payment) - | - |
(d.) Interest on cash, bank balances, and short-term
investments 40 | 113 |
(e.) AC loss-rental rebates 608 | 1,136 |
(f.) Other operating revenue not listed in (a) to (d) 403 | 331 |
(g.) Total operating revenue 16,511 | 15,508 |

12 Operating expenditure

(a.) Payment for transmission charges 6,016 | 5,745 |
(b.) Transfer payments to the “other” business for:

(i) Asset maintenance:                  1,800   |   1,659   |
(ii)    Consumer disconnection/reconnection
    services:                       -   |   -   |
(iii)   Meter data:                     -   |   -   |
(iv)    Consumer-based load control services:           -   |   -   |
(v) Royalty and patent expenses:                -   |   -   |
(vi)    Avoided transmission charges on account
    of own generation:                  -   |   -   |
(vii)   Other goods and services not listed in (i) to
    (vi):                       -   |   17  |
(viii)  **Total transfer payment to the “other”
    business**                  1,800   |   1,676   |

(c.) Expense to entities that are not related parties
for:

(i) Asset maintenance:                  1,577   |   971 |
(ii)    Consumer disconnection/reconnection
    services:                       -   |   -   |
(iii)   Meter data: - EMS                   4   |   4   |
(iv)    Consumer-based load control services:           -   |   -   |
(v) Royalty and patent expenses:                -   |   -   |
(vi)    **Total of specified expenses to non-
    related parties**                   1,581   |   975 |

(d.) Employee salaries, wages and redundancies 850 | 764 |
(e.) Consumer billing and information systems - | - |
(f.) Depreciation on:

(i) System fixed assets:                    3,670   |   3,669   |
(ii)    Other assets not listed in (i):         145 |   212 |
(iii)   **Total depreciation listed in (i):**           3,815   |   3,881   |

(g.) Amortisation of:

(i) Goodwill                        2   |   -   |
(ii)    Other intangibles                   -   |   -   |
(iii)   **Total amortisation of intangibles**           2   |   -   |

(h.) Corporate and administration 484 | 516 |
(i.) Human resource expenses 81 | 89 |