INFORMATION FOR DISCLOSURE
PURSUANT TO SECTION 57T OF THE COMMERCE ACT 1986
131,734 126,433
Non Current Assets
Fixed Assets 5 129,011 121,548
Total Non Current Assets 129,011 121,548
Current Assets
Bank and Short term deposits 442 2,720 Short Term Investments - -
Receivables and Prepayments 6 2,281 2,165
Inventory - -
Other Current Assets - -
Total Current Assets 2,723 4,885
Other Tangible Assets 7 - -
Total Tangible Assets 131,734 126,433
Intangible Assets 8 - -
Total Assets 131,734 126,433
MAINPOWER NEW ZEALAND LTD
Lines Business Statement of Cash Flows
For The Year Ended 31 March 2006
2006 2005
$000 $000
Cash Flows From Operating Activities
Cash was provided from:
Receipts from Customers 20,632 18,853
Interest Received 95 303
20,727 19,156
Cash was disbursed to:
Payments to Suppliers and Employees (12,820) (12,623)
Income Taxes Paid (1,101) (915)
Interest Paid (4) -
(13,925) (13,538)
Net Cash Inflow from Operating Activities 12 6,802 5,618
Cash Flows from Investing Activities
Cash was provided from:
Sale of Fixed Assets 20 -
Cash was Applied to:
Purchase of Fixed Assets (9,100) (10,271)
Net Cash Outflow from Investing Activities (9,080) (10,271)
Cash Flows from Financing Activities
Cash was Applied to:
Dividend Paid to Other Business Activities - -
Repayment Loans - -
Net Cash Outflow from Financing Activities - -
SUMMARY
Inflow from Operating Activities 6,802 5,618
Outflow from Investing Activities (9,080) (10,271)
Outflow from Financing Activities - -
Net (Decrease)\Increase in Cash Holdings (2,278) (4,653)
Add Opening Bank and Short Term Deposits 2,720 7,373
Closing Bank and Short Term Deposits 442 2,720
MAINPOWER NEW ZEALAND LTD
Lines Business
Notes to and Forming Part of the Financial Statements
For The Year Ended 31 March 2006
2006 2005
1a Operating Revenue $000 $000
Line Charges 26,911 26,461
A C Loss Rental Rebates 853 382
Interest 95 303
Revenue from "Other" Business - - Other Operating Revenue 4,239 3,851
Total Operating Revenue 32,098 30,997
1b Operating Expenditure
Transmission Charges 6,796 6,886
Transfer Payments
Asset Maintenance 2,459 3,157
Consumer Disconnection - -
Metering 2 3
Load Control 23 36 Royalty and Patents - -
Avoid Transmission Charges - -
Other - -
Total Transfer Payments 2,484 3,196
Non Related Parties
Asset Maintenance 67 91
Consumer Disconnection - -
Metering - -
Load Control 12 -
Royalty and Patents - -
Total Specified Expenses to Non Related Parties 79 91
Salaries, Wages and Redundancies 1,545 1,386
Consumer Billing and Information System 206 187
Depreciation
System Assets 5,505 5,170
Other 268 239
Total Depreciation 5,773 5,409
Amortisation
Goodwill - -
Other Intangibles - -
Total Amortisation - -
Corporate and Administration 623 671
Human Resources Expenses 273 279
Marketing and Advertising 13 8
Merger and Acquisition Expenses - -
Takeover Defence Expenses - -
Research and Development Expenses - -
Consultancy and Legal Expenses 104 123
Donations - -
Directors Fees 160 142
MAINPOWER NEW ZEALAND LTD
Lines Business
Notes to and Forming Part of the Financial Statements
For The Year Ended 31 March 2006
1b Operating Expenditure (continued) 2006 2005
$000 $000
Auditors Fees
Principal Auditors 38 36
Other Auditors - -
Other Audit Services - -
Total Auditors Fees 38 36
Cost of Credit
Bad Debts Written Off 1 3
Doubtful Debts - -
Total Cost of Offering Credit 1 3
Local Authority Rates 110 132
AC Loss - Rental Rebates - -
Rebates to Consumers Due to Ownership Interest 7,093 7,171
Subvention Payments - -
Unusual Expenses - 93
Other Expenditure 115 114
Total Operating Expenditure 25,413 25,927
Operating Surplus Before Interest and Income Tax 6,685 5,070
Interest Expense
Interest Expense on Borrowings - -
Finance Leases - -
Other 4 -
Total Interest Expense 4 -
Operating Surplus Before Income Tax 6,681 5,070
Income Tax 1,430 989
Net Surplus After Taxation 5,251 4,081
1c Taxation
Operating Surplus Before Taxation 6,681 5,070
Prima Facie Taxation @ 33 cents 2,205 1,673
Movement in Income Tax Due to
Permanent Differences 78 190
Taxation Relating to Previous Periods - -
Timing Differences Not Recognised (853) (874)
Deferred Tax Adjustment - -
Total Taxation Expense
per Statement of Financial Performance 1,430 989
The Taxation Charge is Represented by:
Current Taxation 1,430 989
Deferred Taxation - -
Total Taxation Expense
per Statement of Financial Performance 1,430 989
MAINPOWER NEW ZEALAND LTD
Lines Business
Notes to and Forming Part of the Financial Statements
For The Year Ended 31 March 2006
2006 2005
$000 $000
2. Share Capital
Issued and Fully Paid Capital
Ordinary Shares 23,406 23,406
Redeemable Preference Shares 4 5
Total Issued Capital 23,410 23,411
Share Capital Movements
Opening Balance 23,411 23,411
Redemption of Shares (1) -
Total Issued Capital 23,410 23,411
3. Reserves
Company Establishment Reserve
Balance at 31 March 4,647 4,647
Asset Revaluation Reserve
Opening Balance 74,328 74,328
Revaluation Distribution System - -
Closing Balance 74,328 74,328
Total Reserves 78,975 78,975
The Company Establishment Reserve represents the difference between the issued and paid up capital and the net assets vested in the Company from the former North Canterbury Electric Power Board at 1 May 1993.
4. Retained Earnings
Opening Balance 21,191 17,110
Net Surplus 5,251 4,081
Total Retained Earnings 26,442 21,191
5. Fixed Assets
Distribution System 135,772 123,901
Accumulated Depreciation 10,092 4,900
125,680 119,001
Load Control Equipment 2,462 1,878
Accumulated Depreciation 583 270
1,879 1,608
System Fixed Assets 138,234 125,779
Accumulated Depreciation 10,675 5,170
System Fixed Assets 127,559 120,609
Motor Vehicles 666 541
Accumulated Depreciation 339 292
327 249
Consumer Billing and Information System Assets 1,945 1,790
Accumulated Depreciation 1,624 1,498
321 292
Office Equipment 1,517 1,017
Accumulated Depreciation 802 720
715 297
MAINPOWER NEW ZEALAND LTD
Lines Business
Notes to and Forming Part of the Financial Statements
For The Year Ended 31 March 2006
2006 2005
$000 $000
5. Fixed Assets (continued)
Furniture and Fittings 330 329
Accumulated Depreciation 241 228
89 101
Land and buildings - -
Capital works under construction - -
Other Fixed Assets - -
Accumulated Depreciation - -
- -
Total Fixed Assets 129,011 121,548
6. Accounts Receivable
Lines Receivables 2,005 1,960
Prepayments 47 58
Taxation - -
Other Accounts Receivable 229 147
Total Accounts Receivable 2,281 2,165
7. Other Tangible Assets - -
8. Intangible Assets
Goodwill - -
Other Intangibles - -
Total Intangible Assets - -
9. Current Liabilities
Bank Overdraft - -
Short Term Borrowings - -
Payables and Accruals 2,506 2,615
Provision for Dividend - -
Provision for Income Tax 210 80
Other Current Liabilities - -
Total Current Liabilities 2,716 2,695
10. Non Current Liabilities
Payables and Accruals - -
Borrowings - -
Deferred Tax - -
Other Non Current Liabilities 191 161
Total Non Current Liabilities 191 161
MAINPOWER NEW ZEALAND LTD
Lines Business
Notes to and Forming Part of the Financial Statements
For The Year Ended 31 March 2006
11. Transactions with Related Parties
(i) MainPower Trust
The major related party of MainPower is the MainPower Trust and during the current financial year there were no related party transactions and no related party debts written off or forgiven and no transaction took place at nil or nominal value.
(ii) MainPower Contracting Limited
MainPower Contracting Limited is a wholly owned subsidiary. MainPower Contracting is recognised as a leading power systems contractor, and undertakes a wide range of electricity network construction and maintenance for MainPower and for the contestable power systems contracting market as a whole.
There were no related party debts written off or forgiven and no transaction took place at nil or nominal value.
The amount owing by MainPower New Zealand Limited to MainPower Contracting Limited at balance date was $877,857 (2005 $796,455) while the amount owing by MainPower Contracting Limited to MainPower New Zealand Limited at balance date was $23,057 (2005 $15,703). Both amounts are payable on normal trading terms.
MainPower Contracting Limited provides contracting services to MainPower New Zealand Limited, the value of which amounted to $7,510,427 (2005 $6,972,150).
End of year work in progress amounts to $184,902 (2005 $78,285).
The following services were supplied by MainPower Contracting Limited to the Lines Business.
2006 2005
$000 $000
1. Asset Maintenance 2,459 3,157
2. Meter Maintenance 2 3
3. Load Control Maintenance 23 36
4. Construction of Distribution Substations 519 252
5. Construction of Distribution Transformers 1,318 1,475
6. Construction of Low Voltage Reticulation 1,121 999
7. Construction of Distribution Lines and Cables 1,766 927
8. Construction of Subtransmission Assets - -
9. Construction of Other System Assets 29 48
10. Construction of Medium Voltage Switchgear - -
11. Construction of Zone Substations - -
12. Consumer Connections and Disconnection - -
(iii) VirCom Energy Management Services Limited
VirCom Energy Management Services Limited from time to time will provide contracting services to MainPower New Zealand Limited, the value of which amounted to $129,913 (2005 $105,364).
There were no related party debts written off or forgiven and no transaction took place at nil or nominal value.
The amount owing by MainPower New Zealand Limited to VirCom Energy Management Services Limited at balance date was $15,558 (2005 $9,139) while the amount owing by VirCom Energy Management Services Limited to MainPower New Zealand Limited at balance date was $20,524 (2005 $5,645). Both amounts are payable on normal trading terms.
12. Reconciliation of Net Surplus to Net Cash Inflow from Operating Activities
2006 2005
$000 $000
Reported Surplus After Taxation 5,251 4,081
Non Cash Items
Depreciation 5,773 5,409
Customer Contributions (4,156) (3,842)
Movement in Gratuities 30 17
Redemption of Shares (1) -
1,646 1,584
Movements in Working Capital Items
(Increase)/Decrease Accounts Receivable (116) (922)
Increase/(Decrease) Accounts Payable 21 875
(95) (47)
Net Cash Inflow from Operations 6,802 5,618
13. Financial Instruments
Credit Risk: Financial instruments which potentially subject the company to concentrations of credit risk principally relate to bank deposits and receivables. Bank deposits are placed with high credit quality financial institutions. Concentrations of credit risk with respect to Receivables are subject to normal terms of trade. Regular monitoring of receivables is undertaken.
Foreign Exchange and Currency Instruments: The Company is not exposed to foreign exchange or currency risk.
Off-Balance Sheet Financial Instruments: The Company does not have any off-balance sheet financial instruments.
Fair Values: The fair value of the on-balance sheet financial instruments is represented by the carrying values.
14. Commitments and Contingent Liabilities
There are no significant capital commitments or contingent liabilities as at 31 March 2006 (2005, $Nil ).
15. Significant Events After Balance Date
There are no events subsequent to the balance date that would have or may have an effect on the operation of MainPower, the results of MainPower's operations or the state of the affairs of MainPower.
16. Segmental Reporting
The predominant activity of MainPower is the distribution of electricity. All operations are conducted within New Zealand.
SCHEDULE 1 - PART 7 2004 EST OF ACTUAL
FORM FOR THE DERIVATION OF FINANCIAL PERFORMANCE MEASURES FROM FINANCIAL STATEMENTS
Derivation Table March 2006 Input and Calculations Symbol in formula ROF ROE ROI
Operating surplus before interest and income tax from financial statements 6,685
Operating surplus before interest and income tax adjusted pursuant to regulation 18 (OSBIIT) 6,685
Interest on cash, bank balances, and short-term investments (ISTI) 95
OSBIIT minus ISTI 6,590 a 6,590 6,590
Net surplus after tax from financial statements 5,251
Net surplus after tax adjusted pursuant to regulation 18 (NSAT) 5,251 n 5,251
Amortisation of goodwill and amortisation of other intangibles 0 g add 0 add 0 add 0
Subvention payment 0 s add 0 add 0 add 0
Depreciation of SFA at BV (x) 5,505
Depreciation of SFA at ODV (y) 5,505
ODV depreciation adjustment 0 d add 0 add 0 add 0
Subvention payment tax adjustment 0 s*t deduct 0 deduct 0
Interest tax shield -31 q deduct -31
Revaluations 0 r add 0
Income tax 1,430 p deduct 1,430
Numerator 6,590 5,251 5,191
OSBIITADJ = a + g + s + d NSATADJ = n + g + s - s*t + d OSBIITADJ = a + g - q + r + s + d - p - s*t
Fixed assets at end of previous financial year (FA0) 121,548
Fixed assets at end of current financial year (FA1) 129,011
Adjusted net working capital at end of previous financial year (ANWC0) -450
Adjusted net working capital at end of current financial year (ANWC1) -225
Average total funds employed (ATFE) 124,942 c 124,942 124,942
(or regulation 33 time-weighted average)
Total equity at end of previous financial year (TE0) 123,577
Total equity at end of current financial year (TE1) 128,827
Average total equity 126,202 k 126,202
(or regulation 33 time-weighted average)
WUC at end of previous financial year (WUC0) 0
WUC at end of current financial year (WUC1) 0
Average total works under construction 0 e deduct 0 deduct 0 deduct 0
(or regulation 33 time-weighted average)
Revaluations 0 r
Half of revaluations 0 r/2 deduct 0
Intangible assets at end of previous financial year (IA0) 0
Intangible assets at end of current financial year (IA1) 0
Average total intangible asset 0 m add 0
(or regulation 33 time-weighted average)
Subvention payment at end of previous financial year (S0) 0
Subvention payment at end of current financial year (S1) 0
Subvention payment tax adjustment at end of previous financial year 0
Subvention payment tax adjustment at end of current financial year 0
Average subvention payment & related tax adjustment 0 v add 0
System fixed assets at end of previous financial year at book value (SFAbv0) 120,609
System fixed assets at end of current financial year at book value (SFAbv1) 127,559
Average value of system fixed assets at book value 124,084 f deduct 124,084 deduct 124,084 deduct 124,084
(or regulation 33 time-weighted average)
System Fixed assets at year beginning at ODV value (SFAodv0) 120,609
System Fixed assets at end of current financial year at ODV value (SFAodv1) 127,559
Average value of system fixed assets at ODV value 124,084 h add 124,084 add 124,084 add 124,084
(or regulation 33 time-weighted average)
Denominator 124,942 126,202 124,942
ATFEADJ = c - e - f + h Ave TEADJ = k - e - m + v - f + h ATFEADJ = c - e - ½r - f + h
Financial Performance Measure: 5.27 4.16 4.16
ROF = OSBIITADJ/ATFEADJ x 100 ROE = NSATADJ/ATEADJ x 100 ROI = OSBIITADJ/ATFEADJ x 100
MAINPOWER NEW ZEALAND LTD
DISCLOSURE OF FINANCIAL PERFORMANCE MEASURES AND
EFFICIENCY PERFORMANCE MEASURES PURSUANT TO THE COMMERCE ACT
(ELECTRICITY INFORMATION DISCLOSURE REQUIREMENTS)
NOTICE 2004, REQUIREMENT 14.
For The Year Ended 31 March 2006 2005 2004 2003
1. Financial Performance Measures
As defined in the Electricity ( Information Disclosure ) Regulations 1999 (as amended):
a) Return on Funds 5.27% 4.09% 5.51% 6.00%
b) Return on Equity 4.16% 3.36% 4.46% 4.60%
c) Return on Investment 4.16% 3.32% 25.80% (0.39)%
2 Efficiency Performance Measures
a) Direct line costs per kilometre: $799 $988 $758 $748
b) Indirect line costs per customer: $72 $73 $74 $63
Note: Disclosure of Financial Performance Measures and Efficiency Performance Measures for the financial years ended
31 March 2003 excludes the Financial Performance Measures and Efficiency Performance Measures applicable to the Kaiapoi Electricity Network. Disclosure of Financial Performance Measures and Efficiency Performance Measures for the financial years ended 31 March 2006, 2005 and 2004 includes the Financial Performance Measures and Efficiency Performance Measures applicable to the Kaiapoi Electricity Network.
MAINPOWER NEW ZEALAND LTD
ANNUAL ODV RECONCILIATION REPORT
PURSUANT TO THE COMMERCE ACT (ELECTRICITY INFORMATION DISCLOSURE REQUIREMENTS) NOTICE 2004
REQUIREMENT 16, PART 8
2006 2005
$000 $000
System Fixed Assets - at 1 April 120,609 112,069
Add System Fixed Assets acquired during the year at cost 12,455 13,710
Less System Fixed Assets disposed of during the year at ODV - -
Less Depreciation on System Fixed Assets at ODV (5,505) (5,170)
Add Revaluations of System Fixed Assets - -
Equal System Fixed Assets - at 31 March $127,559 $120,609
MAINPOWER NEW ZEALAND LTD
DISCLOSURE OF ENERGY DELIVERED EFFICIENCY PERFORMANCE MEASURES AND STATISTICS
PURSUANT TO THE COMMERCE ACT (ELECTRICITY INFORMATION DISCLOSURE REQUIREMENTS) NOTICE 2004, REQUIREMENT 20, PART 4
For the Year Ended 31 March 2006 2005 2004 2003
1. Energy Delivery Efficiency Performance Measures
(a) Load Factor
Electrical energy entering the distribution system
Maximum demand * Hours per year 69.65% 70.84% 69.69% 62.00%
(b) Loss Ratio
Distribution losses
Energy entering the system 5.11% 5.45% 4.56% 5.90%
(c) Capacity Utilisation
Maximum demand
Total transformer capacity 22.36% 22.82% 24.02% 28.25%
2. Statistics
(a) System length, by voltage:
Voltage Circuit Length Kms
2006 2005 2004 2003
400/230 841 627 691 583
11000/22000 3,269 3,241 3,179 3,161
33000 310 310 310 309
Total 4,420 4,178 4,180 4,053
(b) Circuit length of overhead electric lines, by voltage:
Voltage Circuit Length Kms
2006 2005 2004 2003
400/230 240 237 326 284
11000 3,117 3,094 3,047 3056
33000 307 307 307 307
Total 3,664 3,638 3,680 3,647
(c) Circuit length of underground electric lines, by voltage:
Voltage Circuit Length Kms
2006 2005 2004 2003
400/230 601 390 365 299
11000 152 147 132 105
33000 3 3 3 2
Total 756 540 500 406
For the Year Ended 31 March 2006 2005 2004 2003
(d) Transformer capacity, (kilovolt amperes): 355,895kVA 335,695kVA 309,926kVA 274,560kVA
(e) Maximum demand (Kilowatts): 79,576kW 76,620kW 74,430kW 77,576kW
(f) Total electricity entering into the system,
before losses of electricity(Kilowatt hours): 485,537,696 475,505,176 454,357,817 421,312,647
(g) Total amount of electricity supplied from the system, after losses of electricity on behalf of energy retailers (Kilowatt hours):
Retailer A 333,074,678 323,096,589 308,454,012 272,241,665
Retailer B 10,524,845 10,167,829 9,979,410 11,866,784
Retailer C 38,029,633 73,637,560 110,696,900 108,195,832
Retailer D 2,183,651 1,396,115 1,950,240 1,324,564
Retailer E - - - 249,519
Retailer F 76,916,134 41,300,025 2,571,320 2,576,003
Retailer G - - - -

Total 460,728,941 449,598,118 433,651,882 365,454,367
(h) Total customers 30,671 30,283 29,082 25,997
Note: Disclosure of Energy Delivered Efficiency Performance Measures and Statistics for the financial years ended 31 March 2003 excludes the Energy Delivered Efficiency Performance Measures and Statistics applicable to the Kaiapoi Electricity Network. Disclosure of Energy Delivered Efficiency Performance Measures and Statistics for the financial years ended 31 March 2006, 2005 and 2004 includes the Energy Delivered Efficiency Performance Measures and Statistics applicable to the Kaiapoi Electricity Network.
MAINPOWER NEW ZEALAND LTD
DISCLOSURE OF RELIABILITY PERFORMANCE MEASURES
PURSUANT TO THE COMMERCE ACT (ELECTRICITY INFORMATION DISCLOSURE REQUIREMENTS) NOTICE 2004, REQUIREMENT 21, PART 4.
Disclosure for Statistics Year Ending 31/03/2006
Requirement 21(1)
1. Total number of interruptions, together with a breakdown of that total according to interruption class
NETWORK OR Disc CLASSIFICATION
GENERATION Reg OF
OWNER Class INTERRUPTIONS
B Planned Shut-downs 201
MainPower C + G Unplanned Interruptions 107
Subtotal 308
A Planned Shut-downs 0
Trans Power D Unplanned Interruptions 3
Subtotal 3
Other G Other Interruptions
Other E Unplanned Interruptions
Subtotal
TOTAL 311
2. Interruption targets for the following financial year for-
(a) Planned interruptions by the line owner (Class B); and
(b) Unplanned interruptions originating within the works of the line owner (Class C).
3. Average interruption targets for the following financial year and the subsequent 4 financial years for each of-
(a) Planned interruptions by the line owner (Class B); and
(b) Unplanned interruptions originating within the works of the line owner (Class C).
Class B Interruptions Class C Interruptions
Target 31/03/07 185 80
31/03/2007 Avg forecast 185 80
31/03/2008 Avg forecast 175 75
31/03/2009 Avg forecast 170 75
31/03/20010 Avg forecast 170 70
31/03/2011 Avg forecast 165 70
4. The proportion {expressed as a percentage} of the total number of Class C interruptions not restored within-
(a) 3 hours and;
(b) 24 hours.
Not restored within 3 hours- % of Class C Not restored within 24 hours- % of Class C
10.2% 0%
5. With respect to faults per 100 circuit kilometers of prescribed voltage electric line, the following information:
(a) The total number of faults; and
(b) The total number of faults targeted for the following financial year; and
(c) The average total number of faults for that financial year and the subsequent 4 financial years; and
(d) A breakdown of the fault information in accordance with paragraphs (a) to (c) by different nominal line voltages.
6. The total number of faults per 100 circuit kilometres of underground prescribed voltage electric line, together with a breakdown of that total according to different nominal line voltages.
7. The total number of faults per 100 circuit kilometres of overhead prescribed voltage electric line, together with a breakdown of that total according to different nominal line voltages.
Lines Cable Total
Nominal Voltage Faults per Faults per Faults per
100 km 100 km 100 km
33 kV 0.98 40.50 1.30
11 kV 3.03 4.01 3.06
TOTALS 2.85 4.60 2.92
Faults/100km Faults/100km 33kV Faults/100km 11kV
Target 31/03/07 2.23 0.65 2.38
31/03/2007 Avg forecast 2.23 0.65 2.38
31/03/2008 Avg forecast 2.09 0.65 2.23
31/03/2009 Avg forecast 2.09 0.65 2.23
31/03/2010 Avg forecast 1.95 0.32 2.11
31/03/2011 Avg forecast 1.95 0.32 2.11
8,12,16 The SAIDI, SAIFI, CAIDI for the total number of interruptions.
9,13,17 SAIDI targets for the following financial year for-
(a) Planned interruptions by the line owner (Class B); and
(b) Unplanned interruptions originating within the works of the line owner (Class C).
10,14,18 Average SAIDI targets for the following financial year and the subsequent 4 financial years for each of-
(a) Planned interruptions by the line owner (Class B); and
(b) Unplanned interruptions originating within the works of the line owner (Class C).
11,15,19 The SAIDI for the total number of interruptions within each interruption class.
NETWORK OR Disc CLASSIFICATION SAIDI SAIFI CAIDI
GENERATION Reg OF Numerator Result Numerator Result Result
OWNER Class INTERRUPTIONS (Cust-min) (min/Conn (Int/Conn (min/Cust
Cust) (Cust-int) Cust) int)
B Planned Shut-downs 1,021,518 33.3056 4,749 0.1548 215.1017
MainPower C + G Unplanned Interruptions 2,142,964 69.8694 46,683 1.5221 45.9046
Subtotal 3,164,482 103.1751 51,432 1.6769 61.5275
A Planned Shut-downs 0 0 0 0 0
Trans Power D Unplanned Interruptions 184,038 6.0004 5,169 0.1685 35.6042
Subtotal 184,038 6.0004 5,169 0.1685 35.6042
Other G Other Interruptions 0 0.00 0 0.00 0.00
Other E Unplanned Interruptions 0 0.00 0 0.00 0.00
Subtotal 0 0.00 0 0.00 0.00
TOTAL 3,348,520 109.1754 56,601 1.8454 59.1600
Common Denominator = No of Cust. 30,671
Class B SAIDI SAIFI CAIDI
Target 31/03/07 52 0.32 162
31/03/2007 Avg forecast 52 0.32 162
31/03/2008 Avg forecast 38 0.25 152
31/03/2009 Avg forecast 37 0.23 160
31/03/20010 Avg forecast 35 0.21 166
31/03/2011 Avg forecast 33 0.21 157
Class C SAIDI SAIFI CAIDI
Target 31/03/07 60 0.85 70.5
31/03/2007 Avg forecast 60 0.85 70.5
31/03/2008 Avg forecast 57 0.75 76.0
31/03/2009 Avg forecast 56 0.72 77.7
31/03/2010 Avg forecast 55 0.69 79.7
31/03/2011 Avg forecast 55 0.69 79.7
Requirement 21 (3)
1. Total number of interruptions, together with a breakdown of that total according to interruption class.
Interruption Class Number of Interruptions
2006 2005 2004 2003
MainPower Planned Shut-Down ( Class B) 201 236 212 167
Unplanned Interruption ( Class C) 107 58 82 102
Trans Power Planned Shut-Down ( Class A) - 1 - 3
Unplanned Interruption ( Class D) 3 2 1 2
Generation Unplanned Interruption ( Class E) - - - -
Generation Other Unplanned Interruption ( Class F) - - - -
Other Other Interruptions ( Class G) - - - -
Unplanned Interruption ( Class G) - - - -
Total Interruptions 311 297 295 274
2. The total number of faults per 100 circuit kilometres of prescribed voltage electric line.
Nominal Voltage Faults per 100 km Total
2006 2005 2004 2003
33 kV 1.30 3.24 4.00 0.35
11 kV 3.06 1.48 2.01 3.23
TOTAL 2.92 1.66 2.18 2.97
3. The total number of faults per 100 circuit kilometres of Underground prescribed voltage electric line, together with a breakdown of that total according to different nominal line voltages.
Nominal Voltage Faults per 100 km Underground
2006 2005 2004 2003
33 kV 40.50 - - -
11 kV 4.01 3.09 1.45 -
TOTAL 4.60 3.03 1.42 -
4. The total number of faults per 100 circuit kilometres of Overhead prescribed voltage electric line, together with a breakdown of that total according to different nominal line voltages.
Nominal Voltage Faults per 100 km Overhead
2006 2005 2004 2003
33 kV 0.98 3.27 4.03 0.35
11 kV 3.03 1.44 2.03 3.34
TOTAL 2.85 1.60 2.19 3.06
5. The SAIDI for the total of interruptions:
109.1754 115.5685 99.64 284.35
6. The SAIDI for the total number of interruptions within each interruption class:
Network or Generation Classification Minutes per Connected Customer
Owner 2006 2005 2004 2003
MainPower Planned Shut-Down ( Class B) 33.3056 49.7782 48.59 60.83
Unplanned Interruption ( Class C) 69.8694 49.5696 45.44 77.87
Trans Power Planned Shut-Down ( Class A) - 13.2698 - 74.38
Unplanned Interruption ( Class D) 6.0004 2.9509 6.12 71.27
Generation Unplanned Interruption ( Class E) - - - -
Generation Other Unplanned Interruption ( Class F) - - - -
Other Other Interruptions ( Class G) - - - -
Unplanned Interruption ( Class G) - - - -
7. The SAIFI for the total number of interruptions:
1.8454 1.1657 1.21 2.70
8. The SAIFI for the total number of interruptions within each interruption class:
Network or Generation Classification Interruption per Connected Customer (%)
Owner 2006 2005 2004 2003
MainPower Planned Shut-Down ( Class B) 0.1548 0.2178 0.21 0.26
Unplanned Interruption ( Class C) 1.5221 0.7183 0.96 1.46
Trans Power Planned Shut-Down ( Class A) - 0.0588 - 0.19
Unplanned Interruption ( Class D) 0.1685 0.1708 0.04 0.79
Generation Unplanned Interruption ( Class E) - - - -
Generation Other Unplanned Interruption (Class F) - - - -
Other Other Interruptions ( Class G) - - - -
Unplanned Interruption ( Class G) - - - -
9. The CAIDI for the total of all interruptions:
59.1600 99.1408 82.55 105.39
10. The CAIDI for the total number of interruptions within each interruption class:
Network or Generation Classification Minutes per Customer Interruption
Owner 2006 2005 2004 2003
MainPower Planned Shut-Down ( Class B) 215.1017 228.5500 230.17 236.45
Unplanned Interruption ( Class C) 45.9046 69.0096 47.50 53.44
Trans Power Planned Shut-Down ( Class A) - 225.6768 - 387.19
Unplanned Interruption ( Class D) 35.6042 17.2769 143.00 90.03
Generation Unplanned Interruption ( Class E) - - - -
Generation Other Unplanned Interruption ( Class F) - - - - -
Other Other Interruptions ( Class G) - - - -
Unplanned Interruption ( Class G) - - -
Note: Disclosure of Reliability Performance Measures for the financial year ended 31 March 2003 excludes the Reliability Performance Measures applicable to the Kaiapoi Electricity Network. Disclosure of Reliability Performance Measures for the financial years ended 31 March 2006, 2005 and 2004 includes the Reliability Performance Measures applicable to the Kaiapoi Electricity Network.
FORM 4
CERTIFICATION OF FINANCIAL STATEMENTS, PERFORMANCE MEASURES AND STATISTICS DISCLOSED BY DISCLOSING ENTITIES (OTHER THAN TRANSPOWER)
We, P A COX and A BERGE directors of MainPower New Zealand Limited certify that, having made all reasonable enquiries, to the best of our knowledge:
a) The attached audited financial statements of MainPower New Zealand Ltd, prepared for the purposes of Requirement 6 of the Commerce Commission's Electricity Information Disclosure Requirements 2004, comply with those Requirements; and
b) The attached information, being the Derivation Table, Financial Performance Measures, Efficiency Performance Measures, Energy Delivery Efficiency Performance Measures, Statistics, and Reliability Performance Measures in relation to MainPower New Zealand Ltd, and having been prepared for the purposes of Requirements 14, 15, 20 and 21 of the Electricity Information Disclosure Requirements 2004 comply with those Requirements.
The valuations on which those financial performance measures are based are as at 31 March 2006.
P A COX A BERGE
Director Managing Director
30 October 2006
Deloitte
AUDIT REPORT
TO THE READERS OF THE FINANCIAL STATEMENTS OF MAINPOWER NEW ZEALAND LIMITED
We have audited the accompanying financial statements of MainPower New Zealand Limited. The financial statements provide information about the past financial performance of MainPower New Zealand Limited and its financial position as at 31 March 2006. This information is stated in accordance with the accounting policies set out on pages 1 and 2.
Directors' Responsibilities
The Commerce Commission's Electricity Information Disclosure Requirements 2004 made under section 57T of the Commerce Act 1986 require the Directors to prepare financial statements which give a true and fair view of the financial position of MainPower New Zealand Limited as at 31 March 2006, and results of operations and cash flows for the year then ended.
Auditors' Responsibilities
It is our responsibility to express to you an independent opinion on the financial statements presented by the Directors.
Basis of Opinion
An audit includes examining, on a test basis, evidence relevant to the amounts and disclosures in the financial statements. It also includes assessing;
· the significant estimates and judgements made by the Directors in the preparation of the financial statements, and
· whether the accounting policies are appropriate to MainPower New Zealand Limited's circumstances, consistently applied and adequately disclosed.
We conducted our audit in accordance with generally accepted auditing standards in New Zealand. We planned and performed our audit so as to obtain all the information and explanations which we considered necessary. We obtained sufficient evidence to obtain reasonable assurance that the financial statements are free from material misstatements, whether caused by fraud or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the financial statements.
Other than in our capacity as auditor and the provision of financial advice, we have no relationship with or interests in MainPower New Zealand Limited.
Unqualified Opinion
We have obtained all the information and explanations we have required.
In our opinion:
· proper accounting records have been maintained by MainPower New Zealand Limited as far as appears from our examination of those records; and
· the financial statements referred to above:
- comply with generally accepted accounting practice; and
- give a true and fair view of the financial position of MainPower New Zealand Limited as at 31 March 2006 and the results of its operations and cash flows for the year then ended; and
- comply with the Electricity Information Disclosure Requirements 2004.
Our audit was completed on 30 October 2006 and our unqualified opinion is expressed as at that date.
Chartered Accountants
Christchurch, New Zealand.
This audit report relates to the financial statements of MainPower New Zealand Limited prepared in accordance with the Electricity Information Disclosure Requirements 2004 for the year ended 31 March 2006 included on MainPower New Zealand's website. MainPower New Zealand's Directors are responsible for the maintenance and integrity of MainPower New Zealand's website. We have not been engaged to report on the integrity of MainPower New Zealand's website. We accept no responsibility for any changes that may have occurred to the financial statements since they were initially presented on the website. The audit report refers only to the financial statements named above. It does not provide an opinion on any other information which may have been hyperlinked to/from these financial statements. If readers of this report are concerned with the inherent risks arising from electronic data communication they should refer to the hard copy of the audited financial statements and related audit report dated 30 October 2006 to confirm the information included in the audited financial statements presented on this website. Legislation in New Zealand governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.
Deloitte
AUDITOR'S OPINION OF PERFORMANCE MEASURES OF MAINPOWER NEW ZEALAND LIMITED
We have examined the attached information, being-
(a) the derivation table; and
(b) the annual ODV reconciliation report; and
(c) the financial performance measures; and
(d) the financial components of the efficiency performance measures,
that were prepared by MainPower New Zealand Limited and dated 30 October 2006 for the purposes of the Commerce Commission's Electricity Information Disclosure Requirements 2004.
In our opinion, having made all reasonable enquiry, to the best of our knowledge, that information has been prepared in accordance with those Electricity Information Disclosure Requirements 2004.
Chartered Accountants
Christchurch, New Zealand.
30 October 2006
This audit opinion relates to the performance measures of MainPower New Zealand Limited prepared in accordance with the Electricity Information Disclosure Requirements 2004 for the year ended 31 March 2006 included on MainPower New Zealand's website. MainPower New Zealand's Directors are responsible for the maintenance and integrity of MainPower New Zealand's website. We have not been engaged to report on the integrity of MainPower New Zealand's website. We accept no responsibility for any changes that may have occurred to the performance measures since they were initially presented on the website. The audit opinion refers only to the performance measures named above. It does not provide an opinion on any other information which may have been hyperlinked to/from these performance measures. If readers of this report are concerned with the inherent risks arising from electronic data communication they should refer to the hard copy of the audited performance measures and related audit opinion dated 30 October 2006 to confirm the information included in the audited performance measures presented on this website. Legislation in New Zealand governing the preparation and dissemination of performance measures may differ from legislation in other jurisdictions.
Form 7
Requirement 36 (1)
STATUTORY DECLARATION IN RESPECT OF STATEMENTS AND INFORMATION SUPPLIED TO COMMERCE COMMISSION
I, Allan Berge of 23 Belmont Avenue, Rangiora, being a director of MainPower New Zealand Limited, solemnly and sincerely declare that having made all reasonable enquiry, to the best of our knowledge, the information attached to this declaration is a true copy of information made available to the public by MainPower New Zealand Limited under the Commerce Commission's Electricity Information Disclosure Requirements 2004.
And I make this solemn declaration conscientiously believing the same to be true and by virtue of the Oaths and Declarations Act 1957.
ALLAN BERGE
Declared at Rangiora this 10th day of November 2006.
before:
B R Hassall
Rangiora
Justice of the Peace for New Zealand.