✨ Gas Information Disclosure
Disclosure under the Gas (Information Disclosure) Regulations 1997
Maui Development Limited
May 2011
A consequence of constructing the notional accounts in this way is that there are no indirect costs (as defined in the Regulations).
2.2 Estimates, Assumptions and Adjustments
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An ODRC pipeline value as at 1 October 2005 was estimated using the ODRC values prepared by Maunsell Limited for 31 December 2005 and 31 December 2006. The method used was to project the trend in the December valuations back 3 months.
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The ODRC value at 31 December 2007 - 2010 has been estimated by indexing the value at 31 December 2006 by the change in the Consumer Price Index between the respective December quarters. This is consistent with the Commerce Commission’s accepted principles for adjusting ODRC values between valuations under the “building blocks regime” for tariff regulating purposes. The weighted average CPI for 2010 was 2.0% (the weighted average CPI for 2007 – 2009 ranged from 2.0% - 3.4%).
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Similarly the ODRC depreciation for the calendar years 2006 - 2010 was prepared using the valuations prepared by Maunsell Limited for 31 December 2005 and 31 December 2006 respectively. ODRC depreciation has been calculated by adjusting prior year amount for CPI.
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Other Income, Expenses and Balance Sheet figures were obtained from the accounts prepared for the Maui Mining Companies by the Commercial Operator. These accounts are not audited, but are peer reviewed by an accounting firm monthly.
2.3 Financial Performance measures
| Oct-Dec 2005 | Jan-Dec 2006 | Jan-Dec 2007 | Jan-Dec 2008 | Jan-Dec 2009 | Jan-Dec 2010 | |
|---|---|---|---|---|---|---|
| Accounting Return on | ||||||
| Total Assets (%) | 4.9 | 8.1 | 9.4 | 8.9 | 9.1 | 9.8 |
| Accounting Return on | ||||||
| Equity (%) | 3.3 | 5.4 | 6.3 | 6.3 | 6.4 | 6.9 |
| Accounting Rate of | ||||||
| Profit (%) | 8.6 | 11.1 | 9.8 | 10.0 | 8.6 | 9.1 |
The Accounting Rate of Profit figures were affected by the increases in the ODRC pipeline valuations resulting from the valuations conducted by Maunsell Limited and subsequent CPI adjustments to the ODRC value. Without these revaluations, the Accounting Rates of Profit for these periods would be 5.4%, 6.3%, 6.3%, 6.4%, and 6.8% for calendar years 2006 - 2010 respectively.
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NZ Gazette 2011, No 80
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Maui Development Limited Gas Disclosure
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🏭 Trade, Customs & IndustryGas, Disclosure, Regulations, Maui Development Limited, Pipeline, Open Access, Maui Gas Contract, Financial Performance, ODRC, CPI