β¨ Financial Statements
29 NOVEMBER 2010 NEW ZEALAND GAZETTE, No. 159 4001
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
3. Deferred Income
| LINES BUSINESS | 2010 | 2009 |
|---|---|---|
| $000 | $000 | |
| New investment agreements | 13,314 | 14,306 |
| Transmission realignment | 19,465 | 18,075 |
| Other | 1,610 | 482 |
| Total deferred income | 34,389 | 32,863 |
New Investment Agreements
New investment agreements are contracts entered into with customers to build grid connection assets. Where the customer pays the cost to build the asset upfront, the revenue is recognised over the contract period. Related imputed interest expense is based on the Group's WACC in the year the payment was received.
Transmission Realignment
The Transpower Lines Business has carried out some work on transmission line assets consisting of undergrounding and realignment in respect of a property development. The revenue received is recognised over the life of the specific transmission assets.
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β¨ LLM interpretation of page content
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Transpower New Zealand Limited Financial Statements
(continued from previous page)
π Trade, Customs & Industry19 November 2010
Financial statements, Deferred Income, New Investment Agreements, Transmission Realignment
NZ Gazette 2010, No 159