New Zealand Gazette – 2013 – No. 155

Page 4344

✨ Transpower Financial Disclosures



4344                                  NEW ZEALAND GAZETTE, No. 155                               25 NOVEMBER 2013

TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS

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

2012 2013
HVDC transmission lines 70.5 245
HVAC transmission lines 172.8 86
HVAC substations 371.3 289
Communications 8.3 5
Other intangible assets 3.3 36
Software intangible assets 1,129.7 976
Total 1,756.0 1,637

During the year the following borrowing costs were capitalised:

2012 2013
HVAC transmission lines 38.0 -
HVAC substations 0.3 -
HVDC transmission lines 11.9 -
Communications 0.9 -
Administration 0.4 -
Other intangible assets 0.6 -
Total 51.1 0.0

These costs were capitalised at the weighted average cost of debt of 7.4% (2012: 6.9%).

Electricity regulations additional disclosures:

3.9
Motor vehicles 0.1
Office equipment 0.1
Customer billing and information assets 0.1

Property, plant and equipment

Administration assets include computer hardware, furniture and motor vehicles. Land and buildings are contained within the above classes and have a net book value of $173.4 million (2012: $210.3 million).

North Island Grid Upgrade (NIGU) Property

As at 31 March 2013, the Transpower’s lines business holds 27 properties along the route of the line being constructed between Whakamaru and South Auckland relating to NIGU (2012: 52 properties). The line was approved by the Electricity Commission on 18 July 2007 with design and resource consents being granted by the period. 25 properties were sold in the period (2012: 28 properties) and no properties were purchased (2012: 0 properties).

Lines Business

2012
For the NIGU properties sold to 30 June:
Net book value of properties sold 3.0
Sales costs on property sales 0.1
Gain (loss) on property sales (0.1)
Previously recognised impairment (1.3)
Total gain (loss) on property sales (1.3)

For regulatory purposes, the Transpower Lines Business does not charge consumers for losses or gains from movements in property values, where the property was purchased for the purposes of obtaining an easement and then reselling only easements and related costs from these properties were recognised.



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Online Sources for this page:

Gazette.govt.nz — PDF NZ Gazette 2013, No 155




✨ LLM interpretation of page content

🏭 Transpower New Zealand Limited Statement of Accounting Policies (continued from previous page)

🏭 Trade, Customs & Industry
Financial Statement, Capital Work, Borrowing Costs, Electricity Regulations, Property Sales