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Retrieving Data

Note 34: Commitments

GROUP

PARENT

2014

$000

2013

$000

2014

$000

2013

$000

Capital Commitments

50,494

360,116

300

3,072

The capital commitments include construction contracts relating to the construction of stage two of the Snowtown Wind Farm in South Australia along with other smaller projects.

Electricity Purchase Commitments

The Parent has a contract with Pioneer Generation Limited to purchase all of the output from its various generation sites. This commitment cannot be quantified.

The Parent has a contract with Mighty River Power Limited to purchase the output from the Rotokawa geothermal power station. This commitment cannot be quantified.

The Parent has a contract with Opuha Water Limited to purchase the output from its hydropower station. This commitment cannot be quantified.

The Parent has a contract with Amethyst Hydro Limited to purchase the output from its hydropower station. This commitment cannot be quantified.

The Parent has a contract with Ngawha Generation Limited to purchase the output from its geothermal station from 1 July 2014. This commitment cannot be quantified.

Gas Purchase Commitment

The Parent has a contract with Origin Energy Resources NZ (Rimu) Limited to purchase output from its Rimu gas field. This commitment cannot be quantified.

GROUP

PARENT

2014

$000

2013

$000

2014

$000

2013

$000

Operating Leases

Not later than 1 year

199

-

199

-

Later than 1 year and not later than 5 years

 

7,649

-

7,649

-

Later than 5 years

 

29,627

-

29,627

-

Total operating lease commitments

 

37,475

-

37,475

-

The operating leases relates to the rental of ten office buildings throughout New Zealand as well as the Parent’s head office which is currently under construction.