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New Zealand Gazette – 2010 – No. 158

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✨ Financial Statements Notes

NGC HOLDINGS LIMITED

GAS RETAILING ACTIVITIES

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2010

14. NOTIONAL BORROWINGS

Borrowings are a notional loan from Vector Limited to reflect a debt/equity mix in line with ACAM.
The interest cost on the borrowings has been calculated using a weighted average interest rate.

15. TRANSACTIONS WITH RELATED PARTIES

NATURE OF THE TRANSACTION	RELATED PARTY	2010	2009
Sold gas based on standard terms and conditions.	Vector Kapuni Limited	10,510	8,667
Sold gas based on standard terms and conditions.	Kapuni Gas Treatment Plant	831	1,044
Sold gas for use in the compressors and line heaters based on standard terms and conditions.	Gas Transmission Activities	3,475	3,798
Purchased gas based on actual amounts billed and notional revenue charged to gas retailing activities based on gas wholesales's cost of gas.	Gas Wholesaling Activities	214,193	199,442
Purchased gas transmission services based on standard terms and conditions.	Gas Transmission Activities	30,274	29,160
Purchased gas processing services based on notional revenue charged to gas retailing activities.	Kapuni Gas Treatment Plant	7,095	6,131
Purchased distribution services based on standard terms and conditions.	Gas Distribution Activities	3,791	4,198
Purchased metering services based on standard terms and conditions.	NGC Metering Limited	599	596
Purchased distribution services based on standard terms and conditions.	Vector Limited	4,498	4,506
Notional borrowings advance	Vector Limited	14,965	17,129

(Transmission and distribution services charges are paid to related parties at the time of billing.)

Gazette.govt.nz — NZ Gazette 2010, No 158

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✨ LLM interpretation of page content

💰 Certification of Financial Statements for NGC Holdings Limited (continued from previous page)

Domain💰 Finance & Revenue
KeywordsFinancial Statements, Accounting Policies, Gas Retailing, Approval

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