GDB Information Disclosure Requirements Information Templates for Schedules 1 10

Transcription

1 GDB Information Disclosure Requirements Information Templates for Schedules 1 10 Disclosure Date 23 December 2015 Disclosure Year (year ended) Templates for Schedules 1 10 excluding 5f 5g Template Version 4.1. Prepared 24 March CoverSheet

2 Table of Contents Schedule Description 1 Analytical Ratios 2 Report on Return on Investment 3 Report on Regulatory Profit 4 Report on Value of the Regulatory Asset Base (Rolled Forward) 5a Report on Regulatory Tax Allowance 5b Report on Related Party Transactions 5c Report on Term Credit Spread Differential Allowance 5d Report on Cost Allocations 5e Report on Asset Allocations 5h Report on Transitional Financial Information 6a Report on Capital Expenditure for the Disclosure Year 6b Report on Operational Expenditure for the Disclosure Year 7 Comparison of Forecasts to Actual Expenditure 8 Report on Billed Quantities and Line Charge Revenues (by Price Component) 9a Asset Register 9b Asset Age Profile 9c Report on Pipeline Data 9d Report on Demand 10a Report on Network Reliability and Interruptions 10b Report on Network Integrity and Consumer Service 2 TOC

3 Disclosure Template Instructions These templates have been prepared for use by GDBs when making disclosures under subclauses 2.3.1, , , 2.5.1, and of the Gas Distribution Information Disclosure Determination and Dates To prepare the templates for disclosure, the supplier's company name should be entered in cell C8, the date of the last day of the current (disclosure) year should be entered in cell C12, and the date on which the information is disclosed should be entered in cell C10 of the CoverSheet worksheet. The cell C12 entry (current year) is used to calculate disclosure years in the column headings that show above some of the tables and in labels adjacent to some entry cells. It is also used to calculate the For year ended date in the template title blocks (the title blocks are the light green shaded areas at the top of each template). The cell C8 entry (company name) is used in the template title blocks. Dates should be entered in day/month/year order (Example -"1 April 2013"). Data Entry Cells and Calculated Cells Data entered into this workbook may be entered only into the data entry cells. Data entry cells are the bordered, unshaded areas (white cells) in each template. Under no circumstances should data be entered into the workbook outside a data entry cell. In some cases, where the information for disclosure is able to be ascertained from disclosures elsewhere in the workbook, such information is disclosed in a calculated cell. Validation Settings on Data Entry Cells To maintain a consistency of format and to help guard against errors in data entry, some data entry cells test keyboard entries for validity and accept only a limited range of values. For example, entries may be limited to a list of category names, to values between 0% and 100%, or either a numeric entry or the text entry N/A. Where this occurs, a validation message will appear when data is being entered. These checks are applied to keyboard entries only and not, for example, to entries made using Excel s copy and paste facility. Conditional Formatting Settings on Data Entry Cells Schedule 2 cells G79 and I79:L79 will change colour if the total cashflows do not equal the corresponding values in table 2(ii). Schedule 4 cells P99:P105 and P107 will change colour if the RAB values do not equal the corresponding values in table 4(ii). Schedule 9b columns AA to AE (2013 to 2017) contain conditional formatting. The data entry cells for future years are hidden (are changed from white to yellow). Schedule 9b cells AG10 to AG37 will change colour if the total assets at year end for each asset class does not equal the corresponding values in column I in Schedule 9a. Schedule 9c cell F22 will change colour if F22 (system length by operating pressure) does not equal F16 (system length by material). Inserting Additional Rows and Columns The templates for schedules 4, 5b, 5c, 5d, 5e, 5i, 6a, 8, 9c, 9d, 10a and 10b may require additional rows to be inserted in tables marked 'include additional rows if needed' or similar. Column A schedule references should not be entered in additional rows, and should be deleted from additional rows that are created by copying and pasting rows that have schedule references. Additional rows in schedules 5c, 6a, 9c and 9d must not be inserted directly above the first row or below the last row of a table. This is to ensure that entries made in the new row are included in the totals. Schedules 5d and 5e may require new cost or asset category rows to be inserted in allocation change tables 5d(iii) and 5e(ii). Accordingly, cell protection has been removed from row 72 of schedule 5d and row 71 of schedule 5e to allow blocks of rows to be copied. The four steps to add new cost category rows to table 5d(iii) are: Select Excel rows 64:72 of the relevant template, copy, select Excel row 73, then insert copied cells. Similarly, for table 5e(ii): Select Excel rows 63:71 of the relevant template, copy, select Excel row 72, then insert copied cells. The template for schedule 8 may require additional columns to be inserted between column M and Q. To avoid interfering with the title block entries, these should be inserted to the left of column N. If inserting additional columns, the formulas for standard consumers total, non-standard consumers totals and total for all consumers will need to be copied into the cells of the added columns. The formulas can be found in the equivalent cells of the existing columns. 3 Instructions

4 Disclosures by Sub-Network Schedules 8, 9a, 9b, 9c, 9d, 10a and 10b must be completed for the network and for each sub-network. A copy of the schedule worksheet(s) must be made for each subnetwork and named accordingly. Schedule References The references labelled '' in the leftmost column of each template are consistent with the row references in the Gas Distribution ID Determination 2012 (as issued on 24 March 2015). They provide a common reference between the rows in the determination and the template. Description of Calculation References Calculation cell formulas contain links to other cells within the same template or elsewhere in the workbook. Key cell references are described in a column to the right of each template. These descriptions are provided to assist data entry. Cell references refer to the row of the template and not the schedule reference. Worksheet Completion Sequence Calculation cells may show an incorrect value until precedent cell entries have been complated. Data entry may be assisted by completing the schedules in the following order: 1. Coversheet 2. Schedules 5a 5e 3. Schedules 6a 6b 4. Schedule 8 5. Schedule 3 6. Schedule 4 7. Schedule 2 8. Schedule 7 9. Schedules 9a 9d 10. Schedules 10a and 10b 4 Instructions

5 SCHEDULE 1: ANALYTICAL RATIOS This schedule calculates expenditure, revenue and service ratios from the information disclosed. The disclosed ratios may vary for reasons that are company specific and, as a result, must be interpreted with care. The Commerce Commission will publish a summary and analysis of information disclosed in accordance with the ID determination. This will include information disclosed in accordance with this and other schedules, and information disclosed under the other requirements of the determination. This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section (i): Expenditure Metrics 8 Expenditure per TJ energy delivered to ICPs ($/TJ) Expenditure per average no. of ICPs ($/ICP) Ratio of expenditure to maximum monthly load ($ per GJ/month) Expenditure per km of pipeline for supply ($/km) 9 Operational expenditure , Network Non-network Expenditure on assets 1, , Network 1, , Non-network (ii): Revenue Metrics 18 Revenue per TJ energy delivered to ICPs ($/TJ) Revenue per average no. of ICPs ($/ICP) 19 Total line charge revenue 3, Standard consumer line charge revenue 6, Non-standard consumer line charge revenue , (iii): Service Intensity Measures Demand density Volume density 2 Quantity of gas delivered per km of system length (TJ/km) 27 Connection point density 15 Average number of ICPs in disclosure year per system length 28 Energy intensity 139 Total GJ delivered to ICPs per average number of ICPs in disclosure year (iv): Composition of Revenue Requirement 31 ($000) % of revenue 32 Operational expenditure 16, % 33 Pass-through and recoverable costs excluding financial incentives and wash-ups 2, % 34 Total depreciation 15, % 35 Total revaluations 1, % 36 Regulatory tax allowance 9, % 37 Regulatory profit/(loss) including financial incentives and wash-ups 32, % 38 Total regulatory income 75, (v): Reliability 41 Maximum monthly load (GJ per month) per system length 42 Interruption rate Interruptions per 100km of system length 5 S1.Analytical Ratios

6 SCHEDULE 2: REPORT ON RETURN ON INVESTMENT 7 2(i): Return on Investment CY-2 CY-1 Current Year CY 8 for year ended 30 Jun Jun Jun 15 9 ROI comparable to a post tax WACC % % % 10 Reflecting all revenue earned 9.10% 8.20% 6.46% 11 Excluding revenue earned from financial incentives 9.10% 8.20% 6.46% 12 Excluding revenue earned from financial incentives and wash-ups 9.10% 8.20% 6.46% Mid-point estimate of post tax WACC 6.02% 6.16% 6.76% 15 25th percentile estimate 5.21% 5.35% 5.95% 16 75th percentile estimate 6.83% 6.97% 7.57% ROI comparable to a vanilla WACC 20 Reflecting all revenue earned 9.80% 8.87% 7.23% 21 Excluding revenue earned from financial incentives 9.80% 8.87% 7.23% 22 Excluding revenue earned from financial incentives and wash-ups 9.80% 8.87% 7.23% WACC rate used to set regulatory price path 7.44% 7.44% 7.44% 25 This schedule requires information on the Return on Investment (ROI) for the GDB relative to the Commerce Commission's estimates of post tax WACC and vanilla WACC. GDBs must calculate their ROI based on a monthly basis if required by clause of the ID Determination or if they elect to. If a GDB makes this election, information supporting this calculation must be provided in 2(iii). GDBs must provide explanatory comment on their ROI in Schedule 14 (Mandatory Explanatory Notes). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section Mid-point estimate of vanilla WACC 6.72% 6.84% 7.54% 27 25th percentile estimate 5.91% 6.03% 6.73% 28 75th percentile estimate 7.53% 7.65% 8.35% (ii): Information Supporting the ROI ($000) Total opening RAB value 483, plus Opening deferred tax (22,545) 34 Opening RIV 461, Line charge revenue 75, Expenses cash outflow 19, plus Assets commissioned 26, less Asset disposals plus Tax payments 5, less Other regulated income Mid-year net cash flows 51, Term credit spread differential allowance Total closing RAB value 496, less Adjustment resulting from asset allocation (38) 49 less Lost and found assets adjustment (25) 50 plus Closing deferred tax (26,633) 51 Closing RIV 470, ROI comparable to a vanilla WACC 7.23% Leverage (%) 44% 56 Cost of debt assumption (%) 6.27% 57 Corporate tax rate (%) 28% ROI comparable to a post tax WACC 6.46% 60 6 S2.Return on Investment

7 SCHEDULE 2: REPORT ON RETURN ON INVESTMENT This schedule requires information on the Return on Investment (ROI) for the GDB relative to the Commerce Commission's estimates of post tax WACC and vanilla WACC. GDBs must calculate their ROI based on a monthly basis if required by clause of the ID Determination or if they elect to. If a GDB makes this election, information supporting this calculation must be provided in 2(iii). GDBs must provide explanatory comment on their ROI in Schedule 14 (Mandatory Explanatory Notes). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section (iii): Information Supporting the Monthly ROI Opening RIV N/A Line charge revenue Expenses cash outflow ($000) Assets commissioned Asset disposals Other regulated income Monthly net cash outflows 67 Month 1-68 Month 2-69 Month 3-70 Month 4-71 Month 5-72 Month 6-73 Month 7-74 Month 8-75 Month 9-76 Month Month Month Total Tax Payments N/A Term credit spread differential allowance N/A Closing RIV N/A Monthly ROI comparable to a vanilla WACC N/A Monthly ROI comparable to a post tax WACC N/A (iv): Year-End ROI Rates for Comparison Purposes Year-end ROI comparable to a vanilla WACC 6.95% Year-end ROI comparable to a post tax WACC 6.18% * these year-end ROI values are comparable to the ROI reported in pre 2012 disclosures by GDBs and do not represent the Commission's current view on ROI (v): Financial Incentives and Wash-Ups Net recoverable costs allowed under incremental rolling incentive scheme Other financial incentives Financial incentives Impact of financial incentives on ROI Input methodology claw-back Recoverable customised price-quality path costs Other wash-ups Wash-up costs Impact of wash-up costs on ROIs S2.Return on Investment

8 SCHEDULE 3: REPORT ON REGULATORY PROFIT 7 3(i): Regulatory Profit ($000) 8 Income 9 Line charge revenue 75, plus Gains / (losses) on asset disposals (116) 11 plus Other regulated income (other than gains / (losses) on asset disposals) Total regulatory income 75, Expenses 15 less Operational expenditure 16, less Pass-through and recoverable costs excluding financial incentives and wash-ups 2, Operating surplus / (deficit) 55, less Total depreciation 15, plus Total revaluations 1, Regulatory profit / (loss) before tax 42, less Term credit spread differential allowance less Regulatory tax allowance 9, Regulatory profit/(loss) including financial incentives and wash-ups 32, (ii): Pass-through and recoverable costs excluding financial incentives and wash-ups ($000) 34 Pass through costs 35 Rates 2, Commerce Act levies Industry Levies CPP specified pass through costs - 39 Recoverable costs excluding financial incentives and wash-ups 40 Other recoverable costs excluding financial incentives and wash-ups - 41 Pass-through and recoverable costs excluding financial incentives and wash-ups 2, (iii): Incremental Rolling Incentive Scheme ($000) 45 CY-1 CY Jun Jun Allowed controllable opex 48 Actual controllable opex Incremental change in year CY-5 30 Jun CY-4 30 Jun CY-3 30 Jun CY-2 30 Jun CY-1 30 Jun Net incremental rolling incentive scheme 59 Previous years' incremental change Previous years' incremental change adjusted for inflation 60 Net recoverable costs allowed under incremental rolling incentive scheme (iv): Merger and Acquisition Expenditure (v): Other Disclosures 69 This schedule requires information on the calculation of regulatory profit for the GDB for the disclosure year. GDBs must complete all sections and must provide explanatory comment on their regulatory profit in Schedule 14 (Mandatory Explanatory Notes). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section Merger and acquisition expenditure - 65 Provide commentary on the benefits of merger and acquisition expenditure to the gas distribution business, including required disclosures in accordance with section 2.7, in Schedule 14 (Mandatory Explanatory Notes) ($000) 70 Self-insurance allowance - ($000) ($000) - 8 S3.Regulatory Profit

9 SCHEDULE 4: REPORT ON VALUE OF THE REGULATORY ASSET BASE (ROLLED FORWARD) 7 4(i): Regulatory Asset Base Value (Rolled Forward) RAB RAB RAB RAB RAB 8 for year ended 30 Jun Jun Jun Jun Jun 15 9 ($000) ($000) ($000) ($000) ($000) 10 Total opening RAB value 423, , , , , less Total depreciation 12,571 13,662 14,398 14,483 15, plus Total revaluations 13,596 4,248 3,134 7,548 1, plus Assets commissioned 22,745 20,664 20,404 23,068 26, less Asset disposals plus Lost and found assets adjustment (25) plus Adjustment resulting from asset allocation (15) 32 (38) Total closing RAB value 447, , , , , (ii): Unallocated Regulatory Asset Base 27 Unallocated RAB * RAB 28 ($000) ($000) ($000) ($000) 29 Total opening RAB value 509, , less 31 Total depreciation 24,025 15, plus 33 Total revaluations 2,026 1, plus 35 Assets commissioned (other than below) 35,832 26, Assets acquired from a regulated supplier Assets acquired from a related party Assets commissioned 35,832 26, less 40 Asset disposals (other than below) Asset disposals to a regulated supplier Asset disposals to a related party Asset disposals plus Lost and found assets adjustment (534) (25) plus Adjustment resulting from asset allocation (38) Total closing RAB value 522, , (iii): Calculation of Revaluation Rate and Revaluation of Assets CPI 4 1, CPI 4 1, Revaluation rate (%) 0.40% Unallocated RAB * RAB 59 ($000) ($000) ($000) ($000) 60 Total opening RAB value 509, , less Opening value of fully depreciated, disposed and lost assets 3, Total opening RAB value subject to revaluation 506, , Total revaluations 2,026 1, This schedule requires information on the calculation of the Regulatory Asset Base (RAB) value to the end of this disclosure year. This informs the ROI calculation in Schedule 2. GDBs must provide explanatory comment on the value of their RAB in Schedule 14 (Mandatory Explanatory Notes). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section 2.8. * The 'unallocated RAB' is the total value of those assets used wholly or partially to provide gas distribution services without any allowance being made for the allocation of costs to services provided by the supplier that are not gas distribution services. The RAB value represents the value of these assets after applying this cost allocation. Neither value includes works under construction. 9 S4.RAB Value (Rolled Forward)

10 SCHEDULE 4: REPORT ON VALUE OF THE REGULATORY ASSET BASE (ROLLED FORWARD) This schedule requires information on the calculation of the Regulatory Asset Base (RAB) value to the end of this disclosure year. This informs the ROI calculation in Schedule 2. GDBs must provide explanatory comment on the value of their RAB in Schedule 14 (Mandatory Explanatory Notes). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section (iv): Roll Forward of Works Under Construction Works under construction preceding disclosure year Unallocated works under construction 9,001 Allocated works under construction 6, plus Capital expenditure 29,777 21, less Assets commissioned 35,832 26, plus Adjustment resulting from asset allocation (42) 72 Works under construction - current disclosure year 2,946 1, Highest rate of capitalised finance applied 7.57% (v): Regulatory Depreciation 77 Unallocated RAB * RAB 78 ($000) ($000) ($000) ($000) 79 Depreciation - standard 13,409 13, Depreciation - no standard life assets 10,616 1, Depreciation - modified life assets Depreciation - alternative depreciation in accordance with CPP Total depreciation 24,025 15, (vi): Disclosure of Changes to Depreciation Profiles ($000 unless otherwise specified) 86 Asset or assets with changes to depreciation Reason for non-standard depreciation (text entry) * include additional rows if needed 96 4(vii): Disclosure by Asset Category Depreciation charge for the period (RAB) Closing RAB value under 'nonstandard' depreciation Closing RAB value under 'standard' depreciation 97 ($000 unless otherwise specified) 98 Intermediate pressure main pipelines Medium pressure main pipelines Low pressure main pipelines Service pipe Stations Line valve Special crossings Other network assets Non-network assets 99 Total opening RAB value 58, ,833 11,990 70,446 6,464 3,929 4,757 11,485 5, , less Total depreciation 1,584 7, , ,658 15, plus Total revaluations 234 1, , plus Assets commissioned 6,083 10, ,736 1,596 1,028-1,253 1,235 26, less Asset disposals plus Lost and found assets adjustment - (13) 1 (45) (25) 105 plus Adjustment resulting from asset allocation (38) (38) 106 plus Asset category transfers Total closing RAB value 63, ,762 11,720 73,173 7,795 4,803 4,627 11,945 4, , Asset Life 110 Weighted average remaining asset life (years) 111 Weighted average expected total asset life (years) Total 10 S4.RAB Value (Rolled Forward)

11 SCHEDULE 5a: REPORT ON REGULATORY TAX ALLOWANCE This schedule requires information on the calculation of the regulatory tax allowance.this information is used to calculate regulatory profit/loss in Schedule 3 (regulatory profit). GDBs must provide explanatory commentary on the information disclosed in this schedule, in Schedule 14 (Mandatory Explanatory Notes). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section a(i): Regulatory Tax Allowance ($000) 8 Regulatory profit / (loss) before tax 42, plus Income not included in regulatory profit / (loss) before tax but taxable - * 11 Expenditure or loss in regulatory profit / (loss) before tax but not deductible 4 * 12 Amortisation of initial differences in asset values 4, Amortisation of revaluations 1, , less Total revaluations 1, Income included in regulatory profit / (loss) before tax but not taxable - * 18 Expenditure or loss deductible but not in regulatory profit / (loss) before tax - * 19 Notional deductible interest 12, , Regulatory taxable income 33, less Utilised tax losses - 25 Regulatory net taxable income 33, Corporate tax rate (%) 28% 28 Regulatory tax allowance 9, * Workings to be provided in Schedule a(ii): Disclosure of Permanent Differences 33 In Schedule 14, Box 5, provide descriptions and workings of items recorded in the asterisked categories in Schedule 5a(i). 34 5a(iii): Amortisation of Initial Difference in Asset Values ($000) Opening unamortised initial differences in asset values 156, less Amortisation of initial differences in asset values 4, plus Adjustment for unamortised initial differences in assets acquired - 39 less Adjustment for unamortised initial differences in assets disposed (565) 40 Closing unamortised initial differences in asset values 153, Opening weighted average remaining useful life of relevant assets (years) a(iv): Amortisation of Revaluations ($000) Opening sum of RAB values without revaluations 450, Adjusted depreciation 13, Total depreciation 15, Amortisation of revaluations 1, S5a.Regulatory Tax Allowance

12 SCHEDULE 5a: REPORT ON REGULATORY TAX ALLOWANCE This schedule requires information on the calculation of the regulatory tax allowance.this information is used to calculate regulatory profit/loss in Schedule 3 (regulatory profit). GDBs must provide explanatory commentary on the information disclosed in this schedule, in Schedule 14 (Mandatory Explanatory Notes). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section a(v): Reconciliation of Tax Losses ($000) Opening tax losses 55 plus Current period tax losses - 56 less Utilised tax losses - 57 Closing tax losses 58 5a(vi): Calculation of Deferred Tax Balance ($000) Opening deferred tax (22,545) plus Tax effect of adjusted depreciation 3, less Tax effect of tax depreciation 6, plus Tax effect of other temporary differences* (83) less Tax effect of amortisation of initial differences in asset values 1, plus Deferred tax balance relating to assets acquired in the disclosure year less Deferred tax balance relating to assets disposed in the disclosure year (192) plus Deferred tax cost allocation adjustment (32) Closing deferred tax a(vii): Disclosure of Temporary Differences a(viii): Regulatory Tax Asset Base Roll-Forward 82 In Schedule 14, Box 6, provide descriptions and workings of items recorded in the asterisked category in Schedule 5a(vi) (Tax effect of other temporary differences). 83 Opening sum of regulatory tax asset values 216, less Tax depreciation 24, plus Regulatory tax asset value of assets commissioned 24, less Regulatory tax asset value of asset disposals plus Lost and found assets adjustment - 88 plus Adjustments resulting from asset allocation (154) 89 plus Other adjustments to the RAB tax value - 90 Closing sum of regulatory tax asset values 215,848 - ($000) - (26,633) 12 S5a.Regulatory Tax Allowance

13 SCHEDULE 5b: REPORT ON RELATED PARTY TRANSACTIONS This schedule provides information on the valuation of related party transactions, in accordance with section and of the ID determination. This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section b(i): Summary Related Party Transactions ($000) 8 Total regulatory income 5,968 9 Operational expenditure (57) 10 Capital expenditure - 11 Market value of asset disposals - 12 Other related party transactions b(ii): Entities Involved in Related Party Transactions 14 Name of related party Related party relationship 15 Vector Gas Limited (gas wholesale) 16 Vector Communications Limited 17 Advanced Metering Services Limited * include additional rows if needed A fully owned unregulated business unit of Vector Gas Limited. A fully owned subsidiary of Vector Limited. A fully owned subsidiary of Vector Limited. 21 5b(iii): Related Party Transactions 22 Name of related party Related party transaction type Description of transaction Value of transaction ($000) Basis for determining value 23 Vector Gas Limited (gas wholesale) Sales Sold distribution services 5,968 ID clause 2.3.7(2)(a) 24 Advanced Metering Services Limited Opex Purchase of metering services (5) ID clause 2.3.6(2)(d) 25 Vector Communications Limited Opex Purchase of telecommunications services (52) ID clause 2.3.6(2)(d) * include additional rows if needed 13 S5b.Related Party Transactions

14 SCHEDULE 5c: REPORT ON TERM CREDIT SPREAD DIFFERENTIAL ALLOWANCE This schedule is only to be completed if, as at the date of the most recently published financial statements, the weighted average original tenor of the debt portfolio (both qualifying debt and non-qualifying debt) is greater than five years. This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section c(i): Qualifying Debt (may be Commission only) 9 10 Issuing party Issue date Pricing date 11 Original tenor (in years) Coupon rate (%) Book value at issue date (NZD) Book value at date of financial statements (NZD) Term Credit Spread Difference Cost of executing an interest rate swap Debt issue cost readjustment Capital bonds fixed coupon 15-Jun Jun , ,422 []VCI []VCI []VCI Floating rate notes 4-Apr-07 4-Apr BKBM+ []VCI 200,000 []VCI []VCI []VCI 26-Oct Oct BKBM + []VCI 250,000 []VCI []VCI []VCI 26-Oct Oct BKBM + []VCI 400,000 []VCI []VCI []VCI 26-Oct Oct BKBM + []VCI 350,000 []VCI []VCI []VCI Subtotal of floating rate notes 1,200,000 1,156,080 Medium term notes GBP fixed rate 11-Apr-08 8-Apr , ,122 []VCI []VCI []VCI Senior notes - USD fixed rate 16-Sep Jul ,875 []VCI []VCI []VCI Senior notes - USD fixed rate 16-Sep Jul ,623 []VCI []VCI []VCI Senior notes - USD fixed rate 20-Dec Sep []VCI 250,516 []VCI []VCI []VCI Senior notes - USD fixed rate 14-Oct Jun-14 7 []VCI 150,000 []VCI []VCI []VCI Subtotal of senior notes - USD fixed rate 796, ,698 Bank facilities - variable rate 3-Feb-15 3-Feb-15 3 BKBM +[]VCI 3-Feb-15 3-Feb-15 3 BKBM + []VCI 3-Feb-15 3-Feb-15 3 BKBM + []VCI 17-Dec Nov-13 3 BKBM + []VCI 17-Dec Dec-13 3 BKBM + []VCI 17-Dec Dec-13 3 BKBM + []VCI 17-Dec Dec-13 3 BKBM + []VCI Subtotal of bank facilities 248, * include additional rows if needed 2,835,570 []VCI []VCI []VCI c(ii): Attribution of Term Credit Spread Differential Gross term credit spread differential 1, Total book value of interest bearing debt 2,468, Leverage 44% 24 Average opening and closing RAB values 490, Attribution Rate (%) 9% Term credit spread differential allowance S5c.TCSD Allowance (public)

15 SCHEDULE 5d: REPORT ON COST ALLOCATIONS This schedule provides information on the allocation of operational costs. GDBs must provide explanatory comment on their cost allocation in Schedule 14 (Mandatory Explanatory Notes), including on the impact of any reclassifications. This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section d(i): Operating Cost Allocations Service interruptions, incidents and emergencies Arm's length deduction Gas distribution services 11 Directly attributable 3,930 Non-gas distribution services 12 Not directly attributable Total attributable to regulated service 3, Routine and corrective maintenance and inspection 15 Directly attributable 4, Not directly attributable Total attributable to regulated service 4, Asset replacement and renewal 19 Directly attributable - 20 Not directly attributable Total attributable to regulated service - 22 System operations and network support 23 Directly attributable 1, Not directly attributable - 1,492 8,037 9, Total attributable to regulated service 3, Business support Value allocated ($000s) 27 Directly attributable Not directly attributable - 5,223 37,186 42, Total attributable to regulated service 5, Operating costs directly attributable 10, Operating costs not directly attributable - 6,715 45,223 51, Operational expenditure 16, Total OVABAA allocation increase ($000s) 15 S5d.Cost Allocations

16 SCHEDULE 5d: REPORT ON COST ALLOCATIONS This schedule provides information on the allocation of operational costs. GDBs must provide explanatory comment on their cost allocation in Schedule 14 (Mandatory Explanatory Notes), including on the impact of any reclassifications. This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section d(ii): Other Cost Allocations 36 Pass through and recoverable costs 37 Pass through costs Arm's length deduction Gas distribution services Non-gas distribution services 38 Directly attributable 2, Not directly attributable Total attributable to regulated service 2, Recoverable costs 42 Directly attributable - 43 Not directly attributable Total attributable to regulated service d(iii): Changes in Cost Allocations* Value allocated ($000s) 46 ($000) 47 Change in cost allocation 1 CY-1 Current Year (CY) 48 Cost category Original allocation 49 Original allocator or line items New allocation 50 New allocator or line items Difference Rationale for change ($000) 56 Change in cost allocation 2 CY-1 Current Year (CY) 57 Cost category Original allocation 58 Original allocator or line items New allocation 59 New allocator or line items Difference Rationale for change ($000) 65 Change in cost allocation 3 CY-1 Current Year (CY) 66 Cost category Original allocation 67 Original allocator or line items New allocation 68 New allocator or line items Difference Rationale for change * a change in cost allocation must be completed for each cost allocator change that has occurred in the disclosure year. A movement in an allocator metric is not a change in allocator or component. 74 include additional rows if needed Total OVABAA allocation increase ($000s) 16 S5d.Cost Allocations

17 SCHEDULE 5e: REPORT ON ASSET ALLOCATIONS 7 5e(i): Regulated Service Asset Values Main pipe Value allocated ($000s) Gas distribution services 11 Directly attributable 389, Not directly attributable - 13 Total attributable to regulated service 389, Service pipe 15 Directly attributable 73, Not directly attributable - 17 Total attributable to regulated service 73, Stations 19 Directly attributable 7, Not directly attributable - 21 Total attributable to regulated service 7, Line valve 23 Directly attributable 4, Not directly attributable - 25 Total attributable to regulated service 4, Special crossings 27 Directly attributable 4, Not directly attributable - 29 Total attributable to regulated service 4, Other network assets 31 Directly attributable 11, Not directly attributable - 33 Total attributable to regulated service 11, Non-network assets 35 Directly attributable Not directly attributable 3, Total attributable to regulated service 4, Regulated service asset value directly attributable 493, Regulated service asset value not directly attributable 3, Total closing RAB value 496, e(ii): Changes in Asset Allocations* Change in asset value allocation 1 ($000) 46 CY-1 Current Year (CY) 47 Asset category Original allocation 48 Original allocator or line items New allocation 49 New allocator or line items Difference Rationale for change Change in asset value allocation 2 CY-1 Current Year (CY) 56 Asset category Original allocation 57 Original allocator or line items New allocation 58 New allocator or line items Difference Rationale for change Change in asset value allocation 3 CY-1 Current Year (CY) 65 Asset category Original allocation 66 Original allocator or line items New allocation 67 New allocator or line items Difference Rationale for change include additional rows if needed This schedule requires information on the allocation of asset values. This information supports the calculation of the RAB value in Schedule 4. GDBs must provide explanatory comment on their cost allocation in Schedule 14 (Mandatory Explanatory Notes), including on the impact of any changes in asset allocations. This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section 2.8. * a change in asset allocation must be completed for each allocator or component change that has occurred in the disclosure year. A movement in an allocator metric is not a change in allocator or ($000) ($000) 17 S5e.Asset Allocations

18 SCHEDULE 6a: REPORT ON CAPITAL EXPENDITURE FOR THE DISCLOSURE YEAR This schedule requires a breakdown of capital expenditure on assets incurred in the disclosure year, including any assets in respect of which capital contributions are received, but excluding assets that are vested assets. Information on expenditure on assets must be provided on an accounting accruals basis and must exclude finance costs. GDBs must provide explanatory comment on their expenditure on assets in Schedule 14 (Explanatory notes to templates). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section a(i): Expenditure on Assets ($000) ($000) 8 Consumer connection 15,201 9 System growth 1, Asset replacement and renewal 5, Asset relocations 2, Reliability, safety and environment: 13 Quality of supply Legislative and regulatory - 15 Other reliability, safety and environment Total reliability, safety and environment Expenditure on network assets 24, Expenditure on non-network assets 1, Expenditure on assets 25, plus Cost of financing less Value of capital contributions 4, plus Value of vested assets Capital expenditure 21, a(ii): Subcomponents of Expenditure on Assets (where known) ($000) 27 Research and development 28 6a(iii): Consumer Connection 29 Consumer types defined by GDB* ($000) ($000) 30 Mains Extensions/Subdivsions 7, Service Connections - Residential 6, Service Connections - Commercial 1, Customer Easements * include additional rows if needed 36 Consumer connection expenditure 15, less Capital contributions funding consumer connection expenditure 2, Consumer connection less capital contributions 12, S6a.Actual Expenditure Capex

19 SCHEDULE 6a: REPORT ON CAPITAL EXPENDITURE FOR THE DISCLOSURE YEAR This schedule requires a breakdown of capital expenditure on assets incurred in the disclosure year, including any assets in respect of which capital contributions are received, but excluding assets that are vested assets. Information on expenditure on assets must be provided on an accounting accruals basis and must exclude finance costs. GDBs must provide explanatory comment on their expenditure on assets in Schedule 14 (Explanatory notes to templates). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section 2.8. Asset Replacement and 42 System Growth Renewal 43 ($000) ($000) 44 Intermediate pressure 41 6a(iv): System Growth and Asset Replacement and Renewal 45 Main pipe Service pipe Stations 1, Line valve Special crossings Intermediate pressure -total 1,027 1, Medium pressure 52 Main pipe 555 1, Service pipe Stations Line valve Special crossings Medium pressure - total 555 1, Low pressure 59 Main pipe - 1, Service pipe 61 Line valve 62 Special crossings 63 Low pressure - total 64 Other network assets - 1, Monitoring and control systems Cathodic protection systems Other assets (other than above) Other network assets - total System growth and asset replacement and renewal expenditure 1,582 5, less Capital contributions funding system growth and asset replacement and renewal System growth and asset replacement and renewal less capital contributions 1,582 5, a(v): Asset Relocations 74 Project or programme* ($000) ($000) * include additional rows if needed 81 All other projects or programmes - asset relocations 2, Asset relocations expenditure 2, less Capital contributions funding asset relocations 2, Asset relocations less capital contributions S6a.Actual Expenditure Capex

20 SCHEDULE 6a: REPORT ON CAPITAL EXPENDITURE FOR THE DISCLOSURE YEAR This schedule requires a breakdown of capital expenditure on assets incurred in the disclosure year, including any assets in respect of which capital contributions are received, but excluding assets that are vested assets. Information on expenditure on assets must be provided on an accounting accruals basis and must exclude finance costs. GDBs must provide explanatory comment on their expenditure on assets in Schedule 14 (Explanatory notes to templates). This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section a(vi): Quality of Supply 86 Project or programme* ($000) ($000) * include additional rows if needed 93 All other projects or programmes - quality of supply Quality of supply expenditure less Capital contributions funding quality of supply 96 Quality of supply less capital contributions a(vii): Legislative and Regulatory 99 Project or programme* ($000) ($000) * include additional rows if needed 106 All other projects or programmes - legislative and regulatory 107 Legislative and regulatory expenditure 108 less Capital contributions funding legislative and regulatory 109 Legislative and regulatory less capital contributions a(viii): Other Reliability, Safety and Environment 112 Project or programme* ($000) ($000) * include additional rows if needed 119 All other projects or programmes - other reliability, safety and environment Other reliability, safety and environment expenditure less Capital contributions funding other reliability, safety and environment 122 Other reliability, safety and environment less capital contributions a(ix): Non-Network Assets 124 Routine expenditure 125 Project or programme* ($000) ($000) * include additional rows if needed 132 All other projects or programmes - routine expenditure Routine expenditure Atypical expenditure 135 Project or programme* ($000) ($000) * include additional rows if needed 142 All other projects or programmes - atypical expenditure Atypical expenditure Expenditure on non-network assets 1, S6a.Actual Expenditure Capex

21 SCHEDULE 6b: REPORT ON OPERATIONAL EXPENDITURE FOR THE DISCLOSURE YEAR This schedule requires a breakdown of operational expenditure incurred in the current disclosure year. GDBs must provide explanatory comment on their operational expenditure in Schedule 14 (Explanatory notes to templates). This includes explanatory comment on any atypical operational expenditure and assets replaced or renewed as part of asset replacement and renewal operational expenditure, and additional information on insurance. This information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section b(i): Operational Expenditure ($000) ($000) 8 Service interruptions, incidents and emergencies 3,930 9 Routine and corrective maintenance and inspection 4, Asset replacement and renewal - 11 Network opex 8, System operations and network support 3, Business support 5, Non-network opex 8, Operational expenditure 16, b(ii): Subcomponents of Operational Expenditure (where known) 18 Research and development - 19 Insurance S6b.Actual Expenditure Opex

22 SCHEDULE 7: COMPARISON OF FORECASTS TO ACTUAL EXPENDITURE This schedule compares actual revenue and expenditure to the previous forecasts that were made for the disclosure year. Accordingly, this schedule requires the forecast revenue and expenditure information from previous disclosures to be inserted. GDBs must provide explanatory comment on the variance between actual and target revenue and forecast expenditure in Schedule 14 (Mandatory Explanatory Notes). This information is part of the audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section 2.8. For the purpose of this audit, target revenue and forecast expenditures only need to be verified back to previous disclosures. 8 7(i): Revenue Target ($000) ¹ Actual ($000) % variance 9 Line charge revenue 73,999 75,528 2% 10 7(ii): Expenditure on Assets Forecast ($000) ² Actual ($000) % variance 11 Consumer connection 17,204 15,201 (12%) 12 System growth 4,394 1,582 (64%) 13 Asset replacement and renewal 5,067 5,249 4% 14 Asset relocations 4,311 2,091 (51%) 15 Reliability, safety and environment: 16 Quality of supply (89%) 17 Legislative and regulatory Other reliability, safety and environment Total reliability, safety and environment (77%) Expenditure on network assets 31,640 24,279 (23%) 21 Expenditure on non-network assets 1,492 1,326 (11%) 22 Expenditure on assets 33,132 25,605 (23%) 23 7(iii): Operational Expenditure 24 Service interruptions, incidents and emergencies 3,904 3,930 1% 25 Routine and corrective maintenance and inspection 4,554 4,382 (4%) 26 Asset replacement and renewal Network opex 8,458 8,312 (2%) 28 System operations and network support 4,048 3,080 (24%) 29 Business support 8,277 5,521 (33%) 30 Non-network opex 12,325 8,601 (30%) 31 Operational expenditure 20,783 16,913 (19%) 32 7(iv): Subcomponents of Expenditure on Assets (where known) 33 Research and development (v): Subcomponents of Operational Expenditure (where known) 35 Research and development Insurance (25%) 37 1 From the nominal dollar target revenue for the pricing year disclosed under clause 2.4.3(3) of this determination 2 From the CY+1 nominal dollar expenditure forecasts disclosed in accordance with clause for the forecast period starting at the beginning of the 38 disclosure year (the second to last disclosure of Schedules 11a and 11b) 22 S7.Actual vs Forecast Exp

23 SCHEDULE 8: REPORT ON BILLED QUANTITIES AND LINE CHARGE REVENUES Network / Sub-Network Name This schedule requires the billed quantities and associated line charge revenues for the disclosure year for each consumer group or price category code used by the GDB in its pricing schedules. Information is also required on the number of ICPs that are included in each consumer group or price category code, and the energy delivered to these ICPs. Combined networks 8 8(i): Billed quantities by price component 9 Billed quantities by price component Price component Fixed Variable 10 Add extra columns for additional billed quantities by price component as necessary Consumer group name or price category code Consumer type or types (eg, residential, commercial, etc.) Standard or non-standard consumer group (specify) Average no. of ICPs in disclosure year Quantity of gas delivered (TJ) Unit charging basis (eg, days, GJ, etc.) 13 GA0R Residential Standard 90,326 2,191 32,938, ,638, GA01 Commercial Standard 2, ,886 65,729, GA02 Commercial Standard 2, , ,115, GA03 Commercial Standard 873 1, , ,275, GA04 Commercial Standard 143 2,074 52, ,065, GN0R Residential Standard 61,409 1,317 22,388, ,753, GN01 Commercial Standard 2, ,926 48,825, GN02 Commercial Standard 1, , ,462, GN03 Commercial Standard , ,896, GN04 Commercial Standard 74 1,323 26, ,471, Non-standard Commercial Non-standard 74 11,004 25,906 3,056,668, [Select one] 25 Add extra rows for additional consumer groups or price category codes as necessary 26 Standard consumer totals 161,674 11,398 58,948,960 3,166,234, Non-standard consumer totals 74 11,004 25,906 3,056,668, Total for all consumers 161,748 22,402 58,974,866 6,222,902, Days kwh 23 S8.Billed Quantities+Revenues

24 Network / Sub-Network Name Combined networks SCHEDULE 8: REPORT ON BILLED QUANTITIES AND LINE CHARGE REVENUES This schedule requires the billed quantities and associated line charge revenues for the disclosure year for each consumer group or price category code used by the GDB in its pricing schedules. Information is also required on the number of ICPs that are included in each consumer group or price category code, and the energy delivered to these ICPs (ii): Line charge revenues ($000) by price component 32 Line charge revenues ($000) by price component Consumer group name or price category code Consumer type or types (eg, residential, commercial, etc.) Standard or non-standard consumer group (specify) Total line charge revenue in disclosure year Notional revenue foregone from posted discounts (if applicable) Price component Fixed Variable Rate (eg, $ per day, $ per GJ, etc.) 36 GA0R Residential Standard $26,225 $10,750 $15, GA01 Commercial Standard $1,571 $460 $1, GA02 Commercial Standard $4,036 $926 $3, GA03 Commercial Standard $6,529 $1,365 $5, GA04 Commercial Standard $4,525 $685 $3, GN0R Residential Standard $16,671 $7,349 $9, GN01 Commercial Standard $1,267 $438 $ GN02 Commercial Standard $2,099 $505 $1, GN03 Commercial Standard $3,406 $811 $2, GN04 Commercial Standard $2,829 $354 $2, Non-standard Commercial Non-standard $6,370 $5,541 $ [Select one] - 48 Add extra rows for additional consumer groups or price category codes as necessary 49 Standard consumer totals $69,158 - $23,643 $45, Non-standard consumer totals $6,370 - $5,541 $ Total for all consumers $75,528 - $29,184 $46, $/Day $/kwh Add extra columns for additional line charge revenues by price component as necessary 24 S8.Billed Quantities+Revenues

25 SCHEDULE 8: REPORT ON BILLED QUANTITIES AND LINE CHARGE REVENUES Network / Sub-Network Name This schedule requires the billed quantities and associated line charge revenues for the disclosure year for each consumer group or price category code used by the GDB in its pricing schedules. Information is also required on the number of ICPs that are included in each consumer group or price category code, and the energy delivered to these ICPs. Auckland 8 8(i): Billed quantities by price component 9 Billed quantities by price component Price component Fixed Variable 10 Add extra columns for additional billed quantities by price component as necessary 11 Consumer group name or price category code Consumer type or types (eg, residential, commercial, etc.) Standard or non-standard consumer group (specify) Average no. of ICPs in disclosure year Quantity of gas delivered (TJ) Unit charging basis (eg, days, GJ, etc.) GA0R Residential Standard 90,326 2,191 32,938, ,638, GA01 Commercial Standard 2, ,886 65,729, GA02 Commercial Standard 2, , ,115, GA03 Commercial Standard 873 1, , ,275, GA04 Commercial Standard 143 2,074 52, ,065, Non-standard Commercial Non-standard 46 5,116 16,781 1,421,099, [Select one] 20 [Select one] 21 [Select one] 22 [Select one] 23 [Select one] 24 [Select one] 25 Add extra rows for additional consumer groups or price category codes as necessary 26 Standard consumer totals 96,154 7,217 35,061,943 2,004,824, Non-standard consumer totals 46 5,116 16,781 1,421,099, Total for all consumers 96,200 12,333 35,078,724 3,425,924, to S (ii): Line charge revenues ($000) by price component 32 Line charge revenues ($000) by price component Consumer group name or price category code Consumer type or types (eg, residential, commercial, etc.) Standard or non-standard consumer group (specify) Total line charge revenue in disclosure year Notional revenue foregone from posted discounts (if applicable) Days kwh Price component Fixed Variable Rate (eg, $ per day, $ per GJ, etc.) GA0R Residential Standard $26,225 $10,750 $15, GA01 Commercial Standard $1,571 $460 $1, GA02 Commercial Standard $4,036 $926 $3, GA03 Commercial Standard $6,529 $1,365 $5, GA04 Commercial Standard $4,525 $685 $3, Non-standard Commercial Non-standard $4,823 $4,052 $ [Select one] - 43 [Select one] - 44 [Select one] - 45 [Select one] - 46 [Select one] - 47 [Select one] - 48 Add extra rows for additional consumer groups or price category codes as necessary 49 Standard consumer totals $42,886 - $14,186 $28, Non-standard consumer totals $4,823 - $4,052 $ Total for all consumers $47,709 - $18,238 $29, $/Day $/kwh Add extra columns for additional line charge revenues by price component as necessary 25 S8.Auckland

26 SCHEDULE 8: REPORT ON BILLED QUANTITIES AND LINE CHARGE REVENUES Network / Sub-Network Name This schedule requires the billed quantities and associated line charge revenues for the disclosure year for each consumer group or price category code used by the GDB in its pricing schedules. Information is also required on the number of ICPs that are included in each consumer group or price category code, and the energy delivered to these ICPs. North Island 8 8(i): Billed quantities by price component 9 Billed quantities by price component Price component Fixed Variable 10 Add extra columns for additional billed quantities by price component as necessary 11 Consumer group name or price category code Consumer type or types (eg, residential, commercial, etc.) Standard or non-standard consumer group (specify) Average no. of ICPs in disclosure year Quantity of gas delivered (TJ) Unit charging basis (eg, days, GJ, etc.) GN0R Residential Standard 61,409 1,317 22,388, ,753, GN01 Commercial Standard 2, ,926 48,825, GN02 Commercial Standard 1, , ,462, GN03 Commercial Standard , ,896, GN04 Commercial Standard 74 1,323 26, ,471, Non-standard Commercial Non-standard 28 5,888 9,125 1,635,568, [Select one] 20 [Select one] 21 [Select one] 22 [Select one] 23 [Select one] 24 [Select one] 25 Add extra rows for additional consumer groups or price category codes as necessary 26 Standard consumer totals 65,520 4,181 23,887,017 1,161,409, Non-standard consumer totals 28 5,888 9,125 1,635,568, Total for all consumers 65,548 10,069 23,896,142 2,796,978, (ii): Line charge revenues ($000) by price component 32 Line charge revenues ($000) by price component Consumer group name or price category code Consumer type or types (eg, residential, commercial, etc.) Standard or non-standard consumer group (specify) Total line charge revenue in disclosure year Notional revenue foregone from posted discounts (if applicable) Days kwh Price component Fixed Variable Rate (eg, $ per day, $ per GJ, etc.) GN0R Residential Standard $16,671 $7,349 $9, GN01 Commercial Standard $1,267 $438 $ GN02 Commercial Standard $2,099 $505 $1, GN03 Commercial Standard $3,406 $811 $2, GN04 Commercial Standard $2,829 $354 $2, Non-standard Commercial Non-standard $1,547 $1,489 $58 42 [Select one] - 43 [Select one] - 44 [Select one] - 45 [Select one] - 46 [Select one] - 47 [Select one] - 48 Add extra rows for additional consumer groups or price category codes as necessary 49 Standard consumer totals $26,272 - $9,457 $16, Non-standard consumer totals $1,547 - $1,489 $ Total for all consumers $27,819 - $10,946 $16, $/Day $/kwh Add extra columns for additional line charge revenues by price component as necessary 26 S8.Northern

27 SCHEDULE 9a: ASSET REGISTER Network / Sub-network Name This schedule requires a summary of the quantity of assets that make up the network, by asset category and asset class. Combined 8 Operating Pressure Asset Category Asset Class Units Items at start of year (quantity) Items at end of year (quantity) Net change 9 Intermediate Pressure Main pipe IP PE main pipe km N/A 10 Intermediate Pressure Main pipe IP steel main pipe km Intermediate Pressure Main pipe IP other main pipe km N/A 12 Intermediate Pressure Service pipe IP PE service pipe km Intermediate Pressure Service pipe IP steel service pipe km 8 8 (0) 4 14 Intermediate Pressure Service pipe IP other service pipe km N/A 15 Intermediate Pressure Stations Intermediate pressure DRS No Intermediate Pressure Line valve IP line valves No Intermediate Pressure Special crossings IP crossings No Medium Pressure Main pipe MP PE main pipe km 6,362 6, Medium Pressure Main pipe MP steel main pipe km (12) 4 20 Medium Pressure Main pipe MP other main pipe km 2 2 (0) 3 21 Medium Pressure Service pipe MP PE service pipe km 3,343 3, Medium Pressure Service pipe MP steel service pipe km (2) 4 23 Medium Pressure Service pipe MP other service pipe km 5 4 (0) 4 24 Medium Pressure Stations Medium pressure DRS No (14) 4 25 Medium Pressure Line valve MP line valves No. 3,895 3, Medium Pressure Special crossings MP special crossings No Low Pressure Main pipe LP PE main pipe km (2) 4 28 Low Pressure Main pipe LP steel main pipe km 6 0 (6) 3 29 Low Pressure Main pipe LP other main pipe km 0 - (0) N/A 30 Low Pressure Service pipe LP PE service pipe km (6) 4 31 Low Pressure Service pipe LP steel service pipe km 5 2 (3) 3 32 Low Pressure Service pipe LP other service pipe km 0 0 (0) 4 33 Low Pressure Line valve LP line valves No (12) 4 34 Low Pressure Special crossings LP special crossings No N/A 35 All Monitoring and control systems Remote terminal units No All Cathodic protection systems Cathodic protection No (1) 4 Data accuracy (1 4) 27 S9a.Asset Register

28 SCHEDULE 9a: ASSET REGISTER Network / Sub-network Name This schedule requires a summary of the quantity of assets that make up the network, by asset category and asset class. Auckland 8 Operating Pressure Asset Category Asset Class Units Items at start of year (quantity) Items at end of year (quantity) Net change 9 Intermediate Pressure Main pipe IP PE main pipe km N/A 10 Intermediate Pressure Main pipe IP steel main pipe km Intermediate Pressure Main pipe IP other main pipe km N/A 12 Intermediate Pressure Service pipe IP PE service pipe km Intermediate Pressure Service pipe IP steel service pipe km 6 6 (0) 4 14 Intermediate Pressure Service pipe IP other service pipe km N/A 15 Intermediate Pressure Stations Intermediate pressure DRS No Intermediate Pressure Line valve IP line valves No Intermediate Pressure Special crossings IP crossings No Medium Pressure Main pipe MP PE main pipe km 3,340 3, Medium Pressure Main pipe MP steel main pipe km (0) 4 20 Medium Pressure Main pipe MP other main pipe km Medium Pressure Service pipe MP PE service pipe km 1,985 2, Medium Pressure Service pipe MP steel service pipe km (0) 4 23 Medium Pressure Service pipe MP other service pipe km 4 3 (0) 4 24 Medium Pressure Stations Medium pressure DRS No (12) 4 25 Medium Pressure Line valve MP line valves No. 2,786 2, Medium Pressure Special crossings MP special crossings No (1) 4 27 Low Pressure Main pipe LP PE main pipe km 0 0 (0) 4 28 Low Pressure Main pipe LP steel main pipe km 0 - (0) 3 29 Low Pressure Main pipe LP other main pipe km 0 - (0) N/A 30 Low Pressure Service pipe LP PE service pipe km 3 2 (1) 4 31 Low Pressure Service pipe LP steel service pipe km 3 2 (1) 3 32 Low Pressure Service pipe LP other service pipe km 0 0 (0) 4 33 Low Pressure Line valve LP line valves No (10) 4 34 Low Pressure Special crossings LP special crossings No N/A 35 All Monitoring and control systems Remote terminal units No All Cathodic protection systems Cathodic protection No Data accuracy (1 4) 28 S9a.Auckland

29 SCHEDULE 9a: ASSET REGISTER Network / Sub-network Name This schedule requires a summary of the quantity of assets that make up the network, by asset category and asset class. North Island 8 Operating Pressure Asset Category Asset Class Units Items at start of year (quantity) Items at end of year (quantity) Net change 9 Intermediate Pressure Main pipe IP PE main pipe km N/A 10 Intermediate Pressure Main pipe IP steel main pipe km (0) 4 11 Intermediate Pressure Main pipe IP other main pipe km N/A 12 Intermediate Pressure Service pipe IP PE service pipe km N/A 13 Intermediate Pressure Service pipe IP steel service pipe km 2 2 (0) 4 14 Intermediate Pressure Service pipe IP other service pipe km N/A 15 Intermediate Pressure Stations Intermediate pressure DRS No Intermediate Pressure Line valve IP line valves No Intermediate Pressure Special crossings IP crossings No Medium Pressure Main pipe MP PE main pipe km 3,023 3, Medium Pressure Main pipe MP steel main pipe km (12) 4 20 Medium Pressure Main pipe MP other main pipe km 0 - (0) 3 21 Medium Pressure Service pipe MP PE service pipe km 1,358 1, Medium Pressure Service pipe MP steel service pipe km (2) 4 23 Medium Pressure Service pipe MP other service pipe km 1 1 (0) 4 24 Medium Pressure Stations Medium pressure DRS No (2) 4 25 Medium Pressure Line valve MP line valves No. 1,109 1, Medium Pressure Special crossings MP special crossings No Low Pressure Main pipe LP PE main pipe km (2) 4 28 Low Pressure Main pipe LP steel main pipe km 6 0 (6) 3 29 Low Pressure Main pipe LP other main pipe km N/A 30 Low Pressure Service pipe LP PE service pipe km (5) 4 31 Low Pressure Service pipe LP steel service pipe km 2 0 (2) 3 32 Low Pressure Service pipe LP other service pipe km N/A 33 Low Pressure Line valve LP line valves No (2) 4 34 Low Pressure Special crossings LP special crossings No N/A 35 All Monitoring and control systems Remote terminal units No All Cathodic protection systems Cathodic protection No (2) 4 Data accuracy (1 4) 29 S9b.Northern

30 SCHEDULE 9b: ASSET AGE PROFILE This schedule requires a summary of the age profile (based on year of installation) of the assets that make up the network, by asset category and asset class. Network / Sub-network Name Combined 8 Disclosure Year (year ended) Number of assets at disclosure year end by installation date 9 Operating Pressure Asset Category Asset Class Units pre No. with age unknown No. with default dates 10 Intermediate Pressure Main pipe IP PE main pipe km - - N/A 11 Intermediate Pressure Main pipe IP steel main pipe km Intermediate Pressure Main pipe IP other main pipe km - - N/A 13 Intermediate Pressure Service pipe IP PE service pipe km Intermediate Pressure Service pipe IP steel service pipe km Intermediate Pressure Service pipe IP other service pipe km - - N/A 16 Intermediate Pressure Stations Intermediate pressure DRS No Intermediate Pressure Line valve IP line valves No Intermediate Pressure Special crossings IP crossings No Medium Pressure Main pipe MP PE main pipe km ,047 1, , Medium Pressure Main pipe MP steel main pipe km Medium Pressure Main pipe MP other main pipe km Medium Pressure Service pipe MP PE service pipe km , Medium Pressure Service pipe MP steel service pipe km Medium Pressure Service pipe MP other service pipe km Medium Pressure Stations Medium pressure DRS No Medium Pressure Line valve MP line valves No , Medium Pressure Special crossings MP special crossings No Low Pressure Main pipe LP PE main pipe km Low Pressure Main pipe LP steel main pipe km Low Pressure Main pipe LP other main pipe km - - N/A 31 Low Pressure Service pipe LP PE service pipe km Low Pressure Service pipe LP steel service pipe km Low Pressure Service pipe LP other service pipe km Low Pressure Line valve LP line valves No Low Pressure Special crossings LP special crossings No. - - N/A 36 All Monitoring and control systems Remote terminal units No All Cathodic protection systems Cathodic protection No Items at end of year (quantity) Data accuracy (1 4) 30 S9b.Asset Age Profile

31 SCHEDULE 9b: ASSET AGE PROFILE This schedule requires a summary of the age profile (based on year of installation) of the assets that make up the network, by asset category and asset class. Network / Sub-network Name Auckland 8 Disclosure Year (year ended) Number of assets at disclosure year end by installation date 9 Operating Pressure Asset Category Asset Class Units pre No. with age unknown No. with default dates 10 Intermediate Pressure Main pipe IP PE main pipe km - - N/A 11 Intermediate Pressure Main pipe IP steel main pipe km Intermediate Pressure Main pipe IP other main pipe km - - N/A 13 Intermediate Pressure Service pipe IP PE service pipe km Intermediate Pressure Service pipe IP steel service pipe km Intermediate Pressure Service pipe IP other service pipe km - - N/A 16 Intermediate Pressure Stations Intermediate pressure DRS No Intermediate Pressure Line valve IP line valves No Intermediate Pressure Special crossings IP crossings No Medium Pressure Main pipe MP PE main pipe km , , Medium Pressure Main pipe MP steel main pipe km Medium Pressure Main pipe MP other main pipe km Medium Pressure Service pipe MP PE service pipe km , Medium Pressure Service pipe MP steel service pipe km Medium Pressure Service pipe MP other service pipe km (0) Medium Pressure Stations Medium pressure DRS No Medium Pressure Line valve MP line valves No , Medium Pressure Special crossings MP special crossings No Low Pressure Main pipe LP PE main pipe km Low Pressure Main pipe LP steel main pipe km - - N/A 30 Low Pressure Main pipe LP other main pipe km - - N/A 31 Low Pressure Service pipe LP PE service pipe km Low Pressure Service pipe LP steel service pipe km Low Pressure Service pipe LP other service pipe km Low Pressure Line valve LP line valves No Low Pressure Special crossings LP special crossings No. - - N/A 36 All Monitoring and control systems Remote terminal units No All Cathodic protection systems Cathodic protection No Items at end of year (quantity) Data accuracy (1 4) 31 S9b.Auckland

32 SCHEDULE 9b: ASSET AGE PROFILE This schedule requires a summary of the age profile (based on year of installation) of the assets that make up the network, by asset category and asset class. Network / Sub-network Name North Island 8 Disclosure Year (year ended) Number of assets at disclosure year end by installation date 9 Operating Pressure Asset Category Asset Class Units pre No. with age unknown No. with default dates 10 Intermediate Pressure Main pipe IP PE main pipe km - - N/A 11 Intermediate Pressure Main pipe IP steel main pipe km Intermediate Pressure Main pipe IP other main pipe km - - N/A 13 Intermediate Pressure Service pipe IP PE service pipe km - - N/A 14 Intermediate Pressure Service pipe IP steel service pipe km Intermediate Pressure Service pipe IP other service pipe km - - N/A 16 Intermediate Pressure Stations Intermediate pressure DRS No Intermediate Pressure Line valve IP line valves No Intermediate Pressure Special crossings IP crossings No Medium Pressure Main pipe MP PE main pipe km , Medium Pressure Main pipe MP steel main pipe km Medium Pressure Main pipe MP other main pipe km - - N/A 22 Medium Pressure Service pipe MP PE service pipe km , Medium Pressure Service pipe MP steel service pipe km Medium Pressure Service pipe MP other service pipe km Medium Pressure Stations Medium pressure DRS No Medium Pressure Line valve MP line valves No , Medium Pressure Special crossings MP special crossings No Low Pressure Main pipe LP PE main pipe km Low Pressure Main pipe LP steel main pipe km Low Pressure Main pipe LP other main pipe km - - N/A 31 Low Pressure Service pipe LP PE service pipe km Low Pressure Service pipe LP steel service pipe km Low Pressure Service pipe LP other service pipe km - - N/A 34 Low Pressure Line valve LP line valves No Low Pressure Special crossings LP special crossings No. - - N/A 36 All Monitoring and control systems Remote terminal units No All Cathodic protection systems Cathodic protection No Items at end of year (quantity) Data accuracy (1 4) 32 S9b.Northern

33 SCHEDULE 9c: REPORT ON PIPELINE DATA This schedule requires a summary of the key characteristics of the pipeline network. Network / Sub-network Name Combined 8 Network Information (end of year) 9 System length by material (defined by GDB) Length (km) % 10 Steel % 11 PE 9, % 12 Other % System length 10, % By operating pressure: System length (km) (at year end) Weighted average pipe diameter (mm) Number of ICPs (at year end) Gas conveyed for Persons not involved in the GDB (TJ) 19 Intermediate pressure , Medium pressure 10, ,216 11, Low pressure , Total 10, ,243 16, S9c.Pipeline Data

34 SCHEDULE 9c: REPORT ON PIPELINE DATA This schedule requires a summary of the key characteristics of the pipeline network. Network / Sub-network Name Auckland 8 Network Information (end of year) 9 System length by material (defined by GDB) Length (km) % 10 Steel % 11 PE 5, % 12 Other % System length 5, % By operating pressure: System length (km) (at year end) Weighted average pipe diameter (mm) Number of ICPs (at year end) Gas conveyed for Persons not involved in the GDB (TJ) 19 Intermediate pressure , Medium pressure 5, ,609 7, Low pressure Total 5, ,278 10, S9c.Auckland

35 SCHEDULE 9c: REPORT ON PIPELINE DATA This schedule requires a summary of the key characteristics of the pipeline network. Network / Sub-network Name North Island 8 Network Information (end of year) 9 System length by material (defined by GDB) Length (km) % 10 Steel % 11 PE 4, % 12 Other % System length 4, % By operating pressure: System length (km) (at year end) Weighted average pipe diameter (mm) Number of ICPs (at year end) Gas conveyed for Persons not involved in the GDB (TJ) 19 Intermediate pressure , Medium pressure 4, ,607 4, Low pressure , Total 4, ,965 5, S9c.Northern

36 Network / Sub-network Name SCHEDULE 9d: REPORT ON DEMAND 8 9 9d(i): Consumer Connections 10 Number of ICPs connected in year by consumer type Consumer types defined by GDB Number of connections (ICPs) 13 Residential 3, Commercial Total 3, d(ii): Gas Delivered 20 [GDB consumer type] [GDB consumer type] [GDB consumer type] 21 Number of ICPs at year end 163,243 connections 22 Maximum daily load 89,763 (GJ per day) 23 Maximum monthly load 2,331,826 (GJ per month) 24 Number of directly billed ICPs 1 (at year end) 25 Total gas conveyed 22,788,368 (GJ per annum) 26 Average daily delivery 62,434 (GJ per day) Load factor 81.44% Combined This schedule requires a summary of the key measures of network demand for the disclosure year (number of new connections including, maximum monthly loads and total gas conveyed) 36 S9d.Demand

37 Network / Sub-network Name SCHEDULE 9d: REPORT ON DEMAND Auckland This schedule requires a summary of the key measures of network demand for the disclosure year (number of new connections including, maximum monthly loads and total gas conveyed) 8 9 9d(i): Consumer Connections 10 Number of ICPs connected in year by consumer type Consumer types defined by GDB Number of connections (ICPs) 13 Residential 2, Commercial Total 2, d(ii): Gas Delivered 20 [GDB consumer type] [GDB consumer type] [GDB consumer type] 21 Number of ICPs at year end 97,195 connections 22 Maximum daily load 55,655 (GJ per day) 23 Maximum monthly load 1,341,216 (GJ per month) 24 Number of directly billed ICPs 1 (at year end) 25 Total gas conveyed 12,590,616 (GJ per annum) 26 Average daily delivery 34,495 (GJ per day) Load factor 78.23% 37 S9d.Auckland

38 Network / Sub-network Name SCHEDULE 9d: REPORT ON DEMAND North Island This schedule requires a summary of the key measures of network demand for the disclosure year (number of new connections including, maximum monthly loads and total gas conveyed) 8 9 9d(i): Consumer Connections 10 Number of ICPs connected in year by consumer type Consumer types defined by GDB Number of connections (ICPs) 13 Residential 1, Commercial Total 1, d(ii): Gas Delivered 20 [GDB consumer type] [GDB consumer type] [GDB consumer type] 21 Number of ICPs at year end 66,048 connections 22 Maximum daily load 39,094 (GJ per day) 23 Maximum monthly load 1,032,184 (GJ per month) 24 Number of directly billed ICPs - (at year end) 25 Total gas conveyed 10,197,752 (GJ per annum) 26 Average daily delivery 27,939 (GJ per day) Load factor 82.33% 38 S9d.Northern

39 Network / Sub-network Name SCHEDULE 10a: REPORT ON NETWORK RELIABILITY AND INTERRUPTIONS 8 10a(i): Interruptions 9 Interruptions by class Actual 10 Class A (planned interruptions by GTB) - 11 Class B (planned interruptions on the network) Class C (unplanned interruptions on the network) Class D (unplanned interruptions by GTB) - 14 Class I (unplanned interruptions caused by third party damage) Total 1,481 Combined This schedule requires a summary of the key measures of network reliability (interruptions, SAIDI, SAIFI and CAIDI) for the disclosure year GDBs must provide explanatory comment on their network reliability for the disclosure year in Schedule 14 (Explanatory Notes to Templates). The SAIDI and SAIFI information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section Number of unplanned outage events (interruptions that affect more than 5 ICPs) Actual 17 Vector Region Number of unplanned outage events caused by third party damage (interruptions that affect more than 5 ICPs) Actual 23 Vector Region a(ii): Reliability 29 Overall reliability SAIDI SAIFI CAIDI 30 Based on the total number of interruptions 1, Class I (unplanned interruptions caused by third party damage) Class B (planned interruptions on the network) SAIDI SAIFI CAIDI 33 Vector Region Region_02-35 Region_03-36 Region_04-37 Region_05-38 Class C (unplanned interruptions on the network) SAIDI SAIFI CAIDI 39 Vector Region Region_02-41 Region_03-42 Region_04-43 Region_05-39 S10a.Reliability

40 Network / Sub-network Name SCHEDULE 10a: REPORT ON NETWORK RELIABILITY AND INTERRUPTIONS 8 10a(i): Interruptions 9 Interruptions by class Actual 10 Class A (planned interruptions by GTB) - 11 Class B (planned interruptions on the network) Class C (unplanned interruptions on the network) Class D (unplanned interruptions by GTB) - 14 Class I (unplanned interruptions caused by third party damage) Total 761 Auckland This schedule requires a summary of the key measures of network reliability (interruptions, SAIDI, SAIFI and CAIDI) for the disclosure year GDBs must provide explanatory comment on their network reliability for the disclosure year in Schedule 14 (Explanatory Notes to Templates). The SAIDI and SAIFI information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section Number of unplanned outage events (interruptions that affect more than 5 ICPs) Actual 17 Auckland Region Number of unplanned outage events caused by third party damage (interruptions that affect more than 5 ICPs) Actual 23 Auckland Region a(ii): Reliability 29 Overall reliability SAIDI SAIFI CAIDI 30 Based on the total number of interruptions 2, Class I (unplanned interruptions caused by third party damage) 1, Class B (planned interruptions on the network) SAIDI SAIFI CAIDI 33 Auckland Region Region_02-35 Region_03-36 Region_04-37 Region_05-38 Class C (unplanned interruptions on the network) SAIDI SAIFI CAIDI 39 Auckland Region Region_02-41 Region_03-42 Region_04-43 Region_05-40 S10a.Auckland

41 Network / Sub-network Name SCHEDULE 10a: REPORT ON NETWORK RELIABILITY AND INTERRUPTIONS 8 10a(i): Interruptions 9 Interruptions by class Actual 10 Class A (planned interruptions by GTB) - 11 Class B (planned interruptions on the network) Class C (unplanned interruptions on the network) Class D (unplanned interruptions by GTB) - 14 Class I (unplanned interruptions caused by third party damage) Total 720 North Island This schedule requires a summary of the key measures of network reliability (interruptions, SAIDI, SAIFI and CAIDI) for the disclosure year GDBs must provide explanatory comment on their network reliability for the disclosure year in Schedule 14 (Explanatory Notes to Templates). The SAIDI and SAIFI information is part of audited disclosure information (as defined in section 1.4 of the ID determination), and so is subject to the assurance report required by section Number of unplanned outage events (interruptions that affect more than 5 ICPs) Actual 17 North Island Regions Number of unplanned outage events caused by third party damage (interruptions that affect more than 5 ICPs) Actual 23 North Island Regions a(ii): Reliability 29 Overall reliability SAIDI SAIFI CAIDI 30 Based on the total number of interruptions 1, Class I (unplanned interruptions caused by third party damage) Class B (planned interruptions on the network) SAIDI SAIFI CAIDI 33 North Island Regions Region_02-35 Region_03-36 Region_04-37 Region_05-38 Class C (unplanned interruptions on the network) SAIDI SAIFI CAIDI 39 North Island Regions Region_02-41 Region_03-42 Region_04-43 Region_05-41 S10a.Northern

42 Network / Sub-network Name SCHEDULE 10b: REPORT ON NETWORK INTEGRITY AND CONSUMER SERVICE This schedule requires a summary of the key measures of network Integrity (gas escapes, response time to emergencies etc) for the disclosure year. Combined 8 10b(i): System Condition and Integrity Number of confirmed public reported gas escapes per system length 9 (escapes/1000 km) Actual 10 Vector Region Number of leaks detected by routine survey per system length 15 (leaks/1000 km) Actual 16 Vector Region Number of third party damage events per system length 21 (events/1000 km) Actual 22 Vector Region Number of poor pressure events due to network causes Actual 28 Vector Region Number of telephone calls to emergency numbers answered within 30 seconds per 34 total number of calls Actual 35 Vector Region 94.11% Product control safety of distribution gas Actual 41 Number of non-compliant odour tests b(ii): Consumer Service 43 Response time to emergencies (RTE) Proportion of emergencies responded to within 1 hour (%) Proportion of emergencies responded to within 3 hours (%) Average call response time (hours) Number of emergencies 44 Vector Region 95.18% 100.0% Number of complaints Actual 50 Number of complaints per average total consumer numbers S10b.Integrity

43 Network / Sub-network Name SCHEDULE 10b: REPORT ON NETWORK INTEGRITY AND CONSUMER SERVICE This schedule requires a summary of the key measures of network Integrity (gas escapes, response time to emergencies etc) for the disclosure year. Auckland 8 10b(i): System Condition and Integrity Number of confirmed public reported gas escapes per system length 9 (escapes/1000 km) Actual 10 Vector Region Number of leaks detected by routine survey per system length 15 (leaks/1000 km) Actual 16 Vector Region Number of third party damage events per system length 21 (events/1000 km) Actual 22 Vector Region Number of poor pressure events due to network causes Actual 28 Vector Region Number of telephone calls to emergency numbers answered within 30 seconds per 34 total number of calls Actual 35 Vector Region 94.1% Product control safety of distribution gas Actual 41 Number of non-compliant odour tests b(ii): Consumer Service 43 Response time to emergencies (RTE) Proportion of emergencies responded to within 1 hour (%) Proportion of emergencies responded to within 3 hours (%) Average call response time (hours) Number of emergencies 44 Vector Region 96.1% 100.0% Number of complaints Actual 50 Number of complaints per average total consumer numbers S10b.Auckland

44 Network / Sub-network Name SCHEDULE 10b: REPORT ON NETWORK INTEGRITY AND CONSUMER SERVICE This schedule requires a summary of the key measures of network Integrity (gas escapes, response time to emergencies etc) for the disclosure year. North Island 8 10b(i): System Condition and Integrity Number of confirmed public reported gas escapes per system length 9 (escapes/1000 km) Actual 10 Vector Region Number of leaks detected by routine survey per system length 15 (leaks/1000 km) Actual 16 Vector Region Number of third party damage events per system length 21 (events/1000 km) Actual 22 Vector Region Number of poor pressure events due to network causes Actual 28 Vector Region Number of telephone calls to emergency numbers answered within 30 seconds per 34 total number of calls Actual 35 Vector Region 94.1% Product control safety of distribution gas Actual 41 Number of non-compliant odour tests b(ii): Consumer Service 43 Response time to emergencies (RTE) Proportion of emergencies responded to within 1 hour (%) Proportion of emergencies responded to within 3 hours (%) Average call response time (hours) Number of emergencies 44 Vector Region 93.8% 100.0% Number of complaints Actual 50 Number of complaints per average total consumer numbers S10b.Northern

45 Gas Distribution Information Disclosure Determination 2012 (consolidated in 2015) Schedules Schedule 14: Vector Mandatory Explanatory Notes 1. This schedule requires GDBs to provide explanatory notes to information provided in accordance with clauses 2.3.1, , , and subclauses 2.5.1(1)(e) and 2.5.2(1)(e). 2. This schedule is mandatory GDBs must provide the explanatory comment specified below, in accordance with clause Information provided in boxes 1 to 12 of this schedule is part of the audited disclosure information, and so is subject to the assurance requirements specified in section Schedule 15 (Voluntary Explanatory Notes to Schedules) provides for GDBs to give additional explanation of disclosed information should they elect to do so. Return on Investment (Schedule 2) 4. In the box below, comment on return on investment as disclosed in Schedule 2. This comment must include information on reclassified items in accordance with subclause 2.7.1(2). Box 1: Explanatory comment on return on investment The Disclosure IRR calculation has now been updated and is largely consistent with the Commerce Commission s electricity distribution price path reset model. (The exception being timing differences related to cashflows.) The 2015 ROI, using the new IRR calculation, is c7.2%. This is lower than the 75th percentile vanilla WACC of 7.44% due primarily to the low revaluation of CPI. The actual asset revaluation rate (0.40%) for 2015 is lower than the forecast revaluation rate (2.2%) used in the price reset model. There has been no re-classification of items in the disclosure year. Regulatory Profit (Schedule 3) 5. In the box below, comment on regulatory profit for the disclosure year as disclosed in Schedule 3. This comment must include-

46 Gas Distribution Information Disclosure Determination 2012 (consolidated in 2015) Schedules a description of material items included in other regulated income (other than gains / (losses) on asset disposals), as disclosed in 3(i) of Schedule information on reclassified items in accordance with subclause 2.7.1(2). Box 2: Explanatory comment on regulatory profit There has been no re-classification of items in the disclosure year. Merger and acquisition expenses (3(iv) of Schedule 3) 6. If the GDB incurred merger and acquisitions expenditure during the disclosure year, provide the following information in the box below: 6.1 information on reclassified items in accordance with subclause 2.7.1(2) 6.2 any other commentary on the benefits of the merger and acquisition expenditure to the GDB. Box 3: Explanatory comment on merger and acquisition expenditure No merger and acquisition expenditure has been incurred during the disclosure year. Value of the Regulatory Asset Base (Schedule 4) 7. In the box below, comment on the value of the regulatory asset base (rolled forward) in Schedule 4. This comment must include information on reclassified items in accordance with subclause 2.7.1(2). Box 4: Explanatory comment on the value of the regulatory asset based (rolled forward) There has been no re classification of items in the disclosure year. The value of the regulatory asset base has been determined by rolling forward the initial regulatory asset base with allowance made for additions, disposals, depreciation and revaluation in accordance with the Gas Distribution Services Input Methodologies Determination 2012 [NZCC 38]. Regulatory tax allowance: disclosure of permanent differences (5a(i) of Schedule 5a) 8. In the box below, provide descriptions and workings of the material items recorded in the following asterisked categories of 5a(i) of Schedule 5a- 8.1 Income not included in regulatory profit / (loss) before tax but taxable 8.2 Expenditure or loss in regulatory profit / (loss) before tax but not deductible

47 Gas Distribution Information Disclosure Determination 2012 (consolidated in 2015) Schedules Income included in regulatory profit / (loss) before tax but not taxable 8.4 Expenditure or loss deductible but not in regulatory profit / (loss) before tax Box 5: Regulatory tax allowance: permanent differences There are no material items. Regulatory tax allowance: disclosure of temporary differences (5a(vi) of Schedule 5a) 9. In the box below, provide descriptions and workings of material items recorded in the asterisked category Tax effect of other temporary differences in 5a(vi) of Schedule 5a. Box 6: Tax effect of other temporary differences (current disclosure year) There are no material items. Related party transactions: disclosure of related party transactions (Schedule 5b) 10. In the box below, provide descriptions of related party transactions beyond those disclosed on Schedule 5b including identification and descriptions as to the nature of directly attributable costs disclosed under subclause 2.3.6(2)(b). Box 7: Related party transactions A detailed description of related party transactions has been disclosed on Schedule 5b. There have been no related party transactions within the disclosure year disclosed under clause (2) (b). Cost allocation (Schedule 5d) 11. In the box below, comment on cost allocation as disclosed in Schedule 5d. This comment must include information on reclassified items in accordance with subclause 2.7.1(2). Box 8: Cost allocation There have been no re-classification of items in the disclosure year. ABAA (accounting-based allocation approach) has been applied in accordance with the IM determination, to allocate not directly attributable costs in the disclosure year.

48 Gas Distribution Information Disclosure Determination 2012 (consolidated in 2015) Schedules Asset allocation (Schedule 5e) 12. In the box below, comment on asset allocation as disclosed in Schedule 5e. This comment must include information on reclassified items in accordance with subclause 2.7.1(2). Box 9: Commentary on asset allocation There has been no re-classification of items in the disclosure year. Vector satisfies the thresholds in the IM determination to enable the application of ACAM to allocate not directly attributable fixed assets. Capital Expenditure for the Disclosure Year (Schedule 6a) 13. In the box below, comment on expenditure on assets for the disclosure year, as disclosed in Schedule 6a. This comment must include a description of the materiality threshold applied to identify material projects and programmes described in Schedule 6a; 13.2 information on reclassified items in accordance with subclause 2.7.1(2). Box 10: Explanation of capital expenditure for the disclosure year The materiality threshold applied to identify material projects and programmes is $3m, which is consistent with the materiality level used in the assurance engagement. There have been no reclassified items. Operational Expenditure for the Disclosure Year (Schedule 6b) 14. In the box below, comment on operational expenditure for the disclosure year, as disclosed in Schedule 6b. This comment must include Commentary on assets replaced or renewed with asset replacement and renewal operational expenditure, as reported in 6b(i) of Schedule 6b 14.2 Information on reclassified items in accordance with subclause 2.7.1(2) 14.3 Commentary on any material atypical expenditure included in operational expenditure disclosed in Schedule 6b, including the value of the expenditure, the purpose of the expenditure, and the operational expenditure categories the expenditure relates to.

49 Gas Distribution Information Disclosure Determination 2012 (consolidated in 2015) Schedules Box 11: Explanation of operational expenditure for the disclosure year Total operating expenditure is in line with the prior year. There are no asset replacement or renewal costs included in Sch 6b(i). There were no reclassified items. Material atypical expenditure In RY15 a Network Protection Programme was implemented, $0.4m. This is a proactive programme to improve public safety and to prevent third party damage to the network, this programme will continue in future years. The expenditure is included in routine and corrective maintenance and inspection. Variance between forecast and actual expenditure (Schedule 7) 15. In the box below, comment on variance in actual to forecast expenditure for the disclosure year, as reported in Schedule 7. This comment must include information on reclassified items in accordance with subclause 2.7.1(2). Box 12: Explanatory comment on variance in actual to forecast expenditure OPEX Opex is 19% below forecast. Core maintenance expenditure is consistent with forecast. The key reason for the overall variance relates primarily to allocation of Vectors corporate costs and the way in which the forecasts for these costs were calculated. CAPEX Capex was 23% below forecast. Consumer connection expenditure decreased due to lower subdivision and new connections activity. System growth expenditure decreased due to the deferment of 3 major reinforcement projects. Asset relocation expenditure decreased. These activities align to the timings of NZTA and Auckland Transport programmes, the timing of which is customer dependant, and therefore difficult to forecast.

50 Gas Distribution Information Disclosure Determination 2012 (consolidated in 2015) Schedules Information relating to revenues and quantities for the disclosure year 16. In the box below, please explain reasons for any material differences between target revenue disclosed before the start of the pricing year in accordance with clause and subclause 2.4.3(3), and total billed line charge revenue for the disclosure year as disclosed in Schedule 8. Box 13: Explanatory comment relating to revenue for the disclosure year Target revenue in Schedule 7(i) is revenue as previously disclosed under clause 2.4.3(3) of the ID determination and relates to the pricing year (ending 30 September). The total line change revenue in Schedule 8 is revenue that relates to the disclosure year (ending 30 June). As the disclosure year and pricing year are different, target revenue and total line charge revenue, under the definitions above, will differ. In respect of the overlapping 9 month period between October 2014 and June 2015, target revenue ($51.2m) differs from actual revenue ($53.2m) due to higher prices, prior period wash ups, and higher volumes. 17. If price category codes or consumer groups (as applicable) have been changed in a disclosure year, please explain in the box below the effect of this on the allocation of ICPs, quantities and revenues between consumer groups disclosed in Schedule 8. Box 14: Explanatory comment relating to changed price category codes or consumer groups This disclosure year referred to is the year ending. During this period, prices changed on 1 October There were no changes to price category codes or consumer groups. Network Reliability for the Disclosure Year (Schedule 10a) 18. In the box below, comment on network reliability for the disclosure year, as disclosed in Schedule 10a.

51 Gas Distribution Information Disclosure Determination 2012 (consolidated in 2015) Schedules Box 15: Commentary on network reliability for the disclosure year Vector s unplanned SAIDI and SAIFI performance in the North Island sub-network improved compared to the previous year. However, in the Auckland sub-network, Vector s unplanned SAIDI and SAIFI performance increased due to two third-party related events in April and May 2015 which resulted in an outage affecting three customers for 13 and 25 days, respectively. Both events related to customer supplies that were inactive at the time of each event. This accounted for 29% of the yearly total unplanned SAIDI result. Vector s planned SAIDI and SAIFI performance in the Auckland and North Island subnetworks improved due to the completion of the pipeline replacement projects in Hamilton and a lower number of riser valve replacements in Auckland Insurance cover 19. In the box below, provide details of any insurance cover for the assets used to provide gas pipeline services, including The GDB s approaches and practices in regard to the insurance of assets, including the level of insurance; 19.2 In respect of any self insurance, the level of reserves, details of how reserves are managed and invested, and details of any reinsurance. Box 16: Explanation of insurance cover Vector Limited takes insurance cover for a large number of group assets. These policies cover material damage, business interruption and contract works insurance. In relation to the GDB these policies cover only the Auckland Distribution Networks Gate stations and District Pressure Reducing stations. Vector self insures the remainder of the assets in the Gas Distribution Business. Insurance costs are allocated to the GDB using the proportion these assets represent relative to Vector s overall insured assets. In respect of the insurance cover the information reflects insurance years running from 1 September to 31 August each year and premium costs are allocated to the appropriate regulatory years to derive the premium values.

52 Gas Distribution Information Disclosure Determination 2012 (consolidated in 2015) Schedules Amendments to previously disclosed information 20. In the box below, provide information about amendments to previously disclosed information disclosed in accordance with clause in the last 7 years, including: 20.1 a description of each error; and 20.2 for each error, reference to the web address where the disclosure made in accordance with clause is publicly disclosed. Box 17: Disclosure of amendment to previously disclosed information No amendments are required.

53 Schedule 15: Vector Voluntary Explanatory Notes 1. This schedule enable GDBs to provide, should they wish to: 1.1 additional explanatory comment to reports prepared in accordance with clauses 2.3.1, , , 2.5.1, and information on any substantial changes to information disclosed in relation to a prior disclosure year, as a result of final wash-ups. 2. Information in this schedule is not part of the audited disclosure information, and so is not subject to the assurance requirements specified in section Provide additional explanatory comment in the box below. Box 1: Voluntary explanatory comment on disclosed information Vector has no voluntary comments to make.

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