β¨ Financial Statements Notes
26 NOVEMBER 2010 NEW ZEALAND GAZETTE, No. 158 3971
NGC HOLDINGS LIMITED
GAS TRANSMISSION ACTIVITIES
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2010
15. TRANSACTIONS WITH RELATED PARTIES
| NATURE OF THE TRANSACTION | RELATED PARTY | 2010 $\'000 | 2009 $\'000 |
|---|---|---|---|
| Sale of transmission services based on actual revenue charged and notional revenue charged. | Gas Wholesaling Activities | 515 | 634 |
| Sale of transmission services based on actual revenue charged and notional revenue charged. | Gas Retailing Activities | 30,274 | 29,160 |
| Purchase of gas on standard terms and conditions. | Gas Retailing Activities | 3,475 | 3,798 |
| Purchase of mechanical services at market rates for the maintenance of export compressor based at Kapuni. | Kapuni Gas Treatment Plant | 567 | 656 |
| Notional borrowings advance | Vector Limited | 133,942 | 174,092 |
(Transmission services charges are paid by related parties at the time of billing.)
16. EVENTS AFTER BALANCE DATE
Post balance date credit notes of $1.7 million were reversed to revenue. No adjustment to these financial statements is required for this event.
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β¨ LLM interpretation of page content
π°
Notes to the Financial Statements for NGC Holdings Limited
(continued from previous page)
π° Finance & RevenueFinancial Statements, Related Party Transactions, Transmission Services, Gas Purchases, Notional Borrowings
NZ Gazette 2010, No 158