New Zealand Gazette – 2011 – No. 184

Page 5328

✨ Transpower Financial Disclosures



NEW ZEALAND GAZETTE, No. 184

28 NOVEMBER 2011

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

Capital work in progress can be split into the following classes:

2010 2011
HVDC transmission lines 328.6 9.6
HVAC transmission lines 162.2 103.8
HVDC substations and submarine cables 6.3 88.9
HVAC substations 193.9 194.3
Communications 3.9 3.6
Administration assets 8.8 9.3
Software intangible assets 1.9 3.9
Other intangible assets 4.7\/4.6 4.7\/4.6
710.3 458.7

During the year the following borrowing costs were capitalised:

2011
HVAC transmission lines 7.1
HVAC substations and submarine cables 12.7
Communications 3.5
Administration assets 2.6
Other intangible assets 0.2
0.1
3.5
29.6

These costs were capitalised at the weighted average cost of debt of 7.57%

Electricity regulations additional disclosures:

2010
Motors vehicles 1.3
Office equipment 0.4
Customer billing and information assets —

Property, plant and equipment

Administrative assets include computer hardware, plant, equipment, fitments, furniture and motor vehicles, land and buildings are contained within the above classes and have a net book value of $22.7 million (2010: $27.5 million).

Impairment

The impairment relates to land and buildings purchased for $1.9 million (2010: $3.0 million). The impairment is for $3.1 million (2010: $2.2 million) and this our current best estimate of the fair value less costs to sell.

As at 30 June 2011, Transpower holds 72 properties along the route of the line being constructed between Whakamaru and Auckland relating to NUGUP (2010: 89 properties). The lines were approved by the Electricity Commission on 28 July 2009, with designations and resource consents gaining board approval on 18 September 2009. 26 properties were sold in the period (2010: 5 properties) and 6 properties were purchased.

For the properties sold to 30 June:

2010
Net book value of properties sold 5.6
Sales proceeds 2.3
Gain (loss) on properties sales (0.3)
Net (loss) on properties vested impairment (0.6)

For regional purposes, Transpower does not charge customers for losses (or recover any gains) from movements in property values, where the property was purchased solely to obtain an easement. Only easements and related costs from these properties are charged to customers.



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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2011, No 184




✨ LLM interpretation of page content

💰 Financial instrument categorisation for Transpower New Zealand Limited (continued from previous page)

💰 Finance & Revenue
Financial Statements, Transpower, Lines Business, Financial Instruments, Categorisation, Non-current Assets, HVAC Transmission, HVAC Substations, HVDC Substations, Communications, Administration

💰 Capital Work in Progress for Transpower New Zealand Limited

💰 Finance & Revenue
Capital Work in Progress, HVDC Transmission Lines, HVAC Transmission Lines, HVDC Substations, HVAC Substations, Communications, Administration Assets, Software Intangible Assets, Other Intangible Assets

💰 Borrowing Costs Capitalisation for Transpower New Zealand Limited

💰 Finance & Revenue
Borrowing Costs, Capitalisation, HVAC Transmission Lines, HVAC Substations, Communications, Administration Assets, Other Intangible Assets, Weighted Average Cost of Debt

💰 Electricity Regulations Additional Disclosures for Transpower New Zealand Limited

💰 Finance & Revenue
Electricity Regulations, Additional Disclosures, Motor Vehicles, Office Equipment, Customer Billing and Information Assets

💰 Property, Plant and Equipment for Transpower New Zealand Limited

💰 Finance & Revenue
Property, Plant and Equipment, Administrative Assets, Computer Hardware, Land and Buildings, Net Book Value

💰 Impairment for Transpower New Zealand Limited

💰 Finance & Revenue
Impairment, Land and Buildings, Fair Value, NUGUP, Whakamaru, Auckland, Electricity Commission, Designations, Resource Consents, Properties Sold, Properties Purchased