✨ Financial Statements
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NEW ZEALAND GAZETTE, No. 159
29 NOVEMBER 2010
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
2. Operating Revenue
| LINES BUSINESS | ||
|---|---|---|
| 2010 | 2009 | |
| $000 | $000 | |
| Transmission revenue | ||
| HVAC interconnection | 440,402 | 416,694 |
| HVAC connection | 132,220 | 131,171 |
| HVDC | 72,694 | 74,322 |
| EV (rebate) charge - HVAC | (31,870) | (31,115) |
| EV (rebate) charge - HVDC | 7,267 | 7,405 |
| New investment agreements | 24,950 | 23,367 |
| Other | 7,731 | 8,036 |
| Total transmission revenue | 653,394 | 629,880 |
| Non transmission revenue | ||
| Insurance claim revenue | 3,250 | - |
| Total Operating Revenue | 656,644 | 629,880 |
Transmission Revenue
Transmission revenue consists of charges for the transmission of electricity from the point of generation to the point of supply, being high voltage alternating current (HVAC) interconnection, connection and high voltage direct current (HVDC).
The Lines Business operates its revenue setting methodology within an Economic Value ("EV") framework that analyses economic gains and losses between those attributable to shareholders and those attributable to customers. The balance of the accumulated gain (loss) from monopoly activities attributable to customers ("the EV balance") is passed on to or claimed from customers over time as EV (rebates) or charges.
New investment agreements are contracts entered into with customers to build grid connection assets. These agreements are also known as customer investment contracts.
Insurance Claim Revenue
During the year, Transpower made an insurance claim of $3.25 million. Risk Reinsurance Limited (a wholly owned subsidiary of Transpower) is expected to pay the claim in the 2011 financial year. The claim relates to an event at the Haywards substation.
Electricity regulations additional disclosures:
| LINES BUSINESS | ||
|---|---|---|
| 2010 | 2009 | |
| $000 | $000 | |
| Revenue provided to Lines Business from Other Transpower Businesses | - | - |
| Revenue - Electricity loss rental rebates | 82,241 | 169,388 |
| Expense - Electricity loss rental rebates | (82,241) | (169,388) |
| Electricity loss rental rebates not passed through to customers | - | - |
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NZ Gazette 2010, No 159
✨ LLM interpretation of page content
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Transpower New Zealand Limited Financial Statements
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🏭 Trade, Customs & Industry19 November 2010
Financial statements, Operating Revenue, Transmission Revenue, Insurance Claim, Electricity Regulations