EDB Information Disclosure Requirements Information Templates for

Transcription

1 EDB Information Disclosure Requirements Information Templates for Schedules 110 Disclosure Date 31 August 2016 Disclosure Year (year ended) Sch f.xlsx 1 CoverSheet

2 SCHEDULE 1: ANALYTICAL RATIOS 7 1(i): Expenditure metrics 8 Expenditure per GWh energy delivered to ICPs ($/GWh) Expenditure per average no. of ICPs ($/ICP) Expenditure per MW maximum coincident system demand ($/MW) Expenditure per km circuit length ($/km) Expenditure per MVA of capacity from EDBowned distribution transformers ($/MVA) 9 Operational expenditure 17, ,812 2,910 26, Network 8, ,619 1,516 13, Nonnetwork 8, ,193 1,394 12, Expenditure on assets 12, ,038 2,065 18, Network 11, ,935 1,919 17, Nonnetwork , , (ii): Revenue metrics 18 Revenue per GWh energy delivered to ICPs ($/GWh) Revenue per average no. of ICPs ($/ICP) 19 Total consumer line charge revenue 71,430 1, Standard consumer line charge revenue 80,230 1, Nonstandard consumer line charge revenue 35,294 1,391, (iii): Service intensity measures Demand density 41 Maximum coincident system demand per km of circuit length (for supply) (kw/km) 26 Volume density 169 Total energy delivered to ICPs per km of circuit length (for supply) (MWh/km) 27 Connection point density 11 Average number of ICPs per km of circuit length (for supply) (ICPs/km) 28 Energy intensity 15,669 Total energy delivered to ICPs per average number of ICPs (kwh/icp) (iv): Composition of regulatory income 31 ($000) % of revenue 32 Operational expenditure 10, % 33 Passthrough and recoverable costs excluding financial incentives and washups 12, % 34 Total depreciation 6, % 35 Total revaluations % 36 Regulatory tax allowance % 37 Regulatory profit/(loss) including financial incentives and washups 13, % 38 Total regulatory income 42, (v): Reliability 41 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 Interruption rate 7.98 Interruptions per 100 circuit km Sch f.xlsx S1.Analytical Ratios

3 SCHEDULE 2: REPORT ON RETURN ON INVESTMENT This schedule requires information on the Return on Investment (ROI) for the EDB relative to the Commerce Commission's estimates of post tax WACC and vanilla WACC. EDBs must calculate their ROI based on a monthly basis if required by clause of the ID Determination or if they elect to. If an EDB makes this election, information supporting this calculation must be provided in 2(iii). EDBs 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 (i): Return on Investment CY2 CY1 Current Year CY 8 31 Mar Mar Mar 16 9 ROI comparable to a post tax WACC % % % 10 Reflecting all revenue earned 8.02% 6.66% 7.83% 11 Excluding revenue earned from financial incentives 8.02% 6.66% 5.65% 12 Excluding revenue earned from financial incentives and washups 8.02% 5.34% 5.65% Midpoint estimate of post tax WACC 5.43% 6.10% 5.37% 15 25th percentile estimate 4.71% 5.39% 4.66% 16 75th percentile estimate 6.14% 6.82% 6.09% ROI comparable to a vanilla WACC 20 Reflecting all revenue earned 8.70% 7.44% 8.48% 21 Excluding revenue earned from financial incentives 8.70% 7.44% 6.30% 22 Excluding revenue earned from financial incentives and washups 8.70% 6.13% 6.30% WACC rate used to set regulatory price path 8.77% 8.77% 7.19% Midpoint estimate of vanilla WACC 6.11% 6.89% 6.02% 27 25th percentile estimate 5.39% 6.17% 5.30% 28 75th percentile estimate 6.83% 7.60% 6.74% (ii): Information Supporting the ROI ($000) Total opening RAB value 161, plus Opening deferred tax (374) 34 Opening RIV 161, Line charge revenue 43, Expenses cash outflow 22, add Assets commissioned 7, less Asset disposals add Tax payments less Other regulated income (133) 43 Midyear net cash outflows 30, Term credit spread differential allowance Total closing RAB value 163, less Adjustment resulting from asset allocation 0 49 less Lost and found assets adjustment 50 plus Closing deferred tax (392) 51 Closing RIV 162, ROI comparable to a vanilla WACC 8.48% Leverage (%) 44% 56 Cost of debt assumption (%) 5.26% 57 Corporate tax rate (%) 28% ROI comparable to a post tax WACC 7.83% 60 Sch f.xlsx S2.Return on Investment

4 SCHEDULE 2: REPORT ON RETURN ON INVESTMENT This schedule requires information on the Return on Investment (ROI) for the EDB relative to the Commerce Commission's estimates of post tax WACC and vanilla WACC. EDBs must calculate their ROI based on a monthly basis if required by clause of the ID Determination or if they elect to. If an EDB makes this election, information supporting this calculation must be provided in 2(iii). EDBs 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 Assets commissioned Asset disposals Other regulated income Monthly net cash outflows 67 April 68 May 69 June 70 July 71 August 72 September 73 October 74 November 75 December 76 January 77 February 78 March 79 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): YearEnd ROI Rates for Comparison Purposes Yearend ROI comparable to a vanilla WACC 5.32% Yearend ROI comparable to a post tax WACC 4.67% * these yearend ROI values are comparable to the ROI reported in pre 2012 disclosures by EDBs and do not represent the Commission's current view on ROI (v): Financial Incentives and WashUps Net recoverable costs allowed under incremental rolling incentive scheme 103 Purchased assets avoided transmission charge 4, Energy efficiency and demand incentive allowance 105 Quality incentive adjustment 106 Other financial incentives 107 Financial incentives 4, Impact of financial incentives on ROI 2.18% Input methodology clawback 112 Recoverable customised pricequality path costs 113 Catastrophic event allowance 114 Capex washup adjustment 115 Transmission asset washup adjustment NPV washup allowance 117 Reconsideration event allowance 118 Other washups 119 Washup costs Impact of washup costs on ROI Sch f.xlsx S2.Return on Investment

5 SCHEDULE 3: REPORT ON REGULATORY PROFIT 7 3(i): Regulatory Profit ($000) 8 Income 9 Line charge revenue 43, plus Gains / (losses) on asset disposals (221) 11 plus Other regulated income (other than gains / (losses) on asset disposals) Total regulatory income 42, Expenses 15 less Operational expenditure 10, less Passthrough and recoverable costs excluding financial incentives and washups 12, Operating surplus / (deficit) 20, less Total depreciation 6, plus Total revaluations Regulatory profit / (loss) before tax 14, less Term credit spread differential allowance less Regulatory tax allowance Regulatory profit/(loss) including financial incentives and washups 13, (ii): Passthrough and Recoverable Costs excluding Financial Incentives and WashUps ($000) 34 Pass through costs 35 Rates Commerce Act levies Industry levies CPP specified pass through costs 39 Recoverable costs excluding financial incentives and washups This schedule requires information on the calculation of regulatory profit for the EDB for the disclosure year. All EDBs must complete all sections and 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 Electricity lines service charge payable to Transpower 9, Transpower new investment contract charges System operator services 43 Distributed generation allowance 2, Extended reserves allowance 45 Other recoverable costs excluding financial incentives and washups 46 Passthrough and recoverable costs excluding financial incentives and washups 12, Sch f.xlsx S3.Regulatory Profit

6 SCHEDULE 3: REPORT ON REGULATORY PROFIT This schedule requires information on the calculation of regulatory profit for the EDB for the disclosure year. All EDBs must complete all sections and 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 (iii): Incremental Rolling Incentive Scheme ($000) 49 CY1 CY Mar Mar Allowed controllable opex 52 Actual controllable opex Incremental change in year Previous years' incremental change Previous years' incremental change adjusted for inflation 57 CY5 31 Mar CY4 31 Mar CY3 31 Mar CY2 31 Mar CY1 31 Mar Net incremental rolling incentive scheme Net recoverable costs allowed under incremental rolling incentive scheme 65 3(iv): Merger and Acquisition Expenditure Merger and acquisition expenditure (v): Other Disclosures 70 Provide commentary on the benefits of merger and acquisition expenditure to the electricity distribution business, including required disclosures in accordance with section 2.7, in Schedule 14 (Mandatory Explanatory Notes) 71 Selfinsurance allowance ($000) ($000) Sch f.xlsx S3.Regulatory Profit

7 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 31 Mar Mar Mar Mar Mar 16 9 ($000) ($000) ($000) ($000) ($000) 10 Total opening RAB value 153, , , , , less Total depreciation 6,247 6,468 6,574 6,778 6, plus Total revaluations 2,414 1,313 2, plus Assets commissioned 3,101 3,113 9,280 13,773 7, less Asset disposals plus Lost and found assets adjustment plus Adjustment resulting from asset allocation (0) 0 (0) Total closing RAB value 152, , , , , (ii): Unallocated Regulatory Asset Base Unallocated RAB * RAB ($000) ($000) ($000) ($000) 29 Total opening RAB value 161, , less 31 Total depreciation 7,000 6, plus 33 Total revaluations plus 35 Assets commissioned (other than below) 7,777 7, Assets acquired from a regulated supplier 37 Assets acquired from a related party 38 Assets commissioned 7,777 7, less 40 Asset disposals (other than below) Asset disposals to a regulated supplier 42 Asset disposals to a related party 43 Asset disposals plus Lost and found assets adjustment 46 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. EDBs 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 plus Adjustment resulting from asset allocation Total closing RAB value 163, , * The 'unallocated RAB' is the total value of those assets used wholly or partially to provide electricity distribution services without any allowance being made for the allocation of costs to services provided by the supplier that are not electricity distribution services. The RAB value represents the value of these assets after applying this cost allocation. Neither value includes works under construction. Sch f.xlsx S4.RAB Value (Rolled Forward)

8 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. EDBs 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 (iii): Calculation of Revaluation Rate and Revaluation of Assets CPI 4 1, CPI 4 1, Revaluation rate (%) 0.59% ($000) ($000) ($000) ($000) 60 Total opening RAB value 161, , less Opening value of fully depreciated, disposed and lost assets Total opening RAB value subject to revaluation 161, , Total revaluations (iv): Roll Forward of Works Under Construction Works under construction preceding disclosure year 2,850 2, plus Capital expenditure 7,378 7, less Assets commissioned 7,777 7, plus Adjustment resulting from asset allocation 72 Works under construction current disclosure year 2,451 2, Highest rate of capitalised finance applied 75 Unallocated RAB * Unallocated works under construction RAB Allocated works under construction Sch f.xlsx S4.RAB Value (Rolled Forward)

9 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. EDBs 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 (v): Regulatory Depreciation Unallocated RAB * ($000) ($000) ($000) ($000) 79 Depreciation standard 6,845 6, Depreciation no standard life assets Depreciation modified life assets 82 Depreciation alternative depreciation in accordance with CPP 83 Total depreciation 7,000 6, RAB 85 4(vi): Disclosure of Changes to Depreciation Profiles ($000 unless otherwise specified) 86 Asset or assets with changes to depreciation* Reason for nonstandard depreciation (text entry) There are no assets with changes to depreciation * include additional rows if needed Depreciation charge for the period (RAB) Closing RAB value under 'nonstandard' depreciation Closing RAB value under 'standard' depreciation 96 4(vii): Disclosure by Asset Category 97 ($000 unless otherwise specified) Subtransmission Subtransmission Distribution and Distribution and Distribution substations and 98 lines cables Zone substations LV lines LV cables transformers Distribution switchgear Other network assets Nonnetwork assets 99 Total opening RAB value 8,386 9,649 20,484 24,741 51,752 22,850 6,998 14,123 2, , less Total depreciation ,712 1,361 1, , plus Total revaluations plus Assets commissioned ,510 1,324 1, , less Asset disposals plus Lost and found assets adjustment 105 plus Adjustment resulting from asset allocation 106 plus Asset category transfers 107 Total closing RAB value 8,170 9,516 22,393 24,449 51,852 22,373 7,018 14,194 3, , Asset Life 110 Weighted average remaining asset life (years) 111 Weighted average expected total asset life (years) Total Sch f.xlsx S4.RAB Value (Rolled Forward)

10 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). EDBs 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 14, 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 297 * 12 Amortisation of initial differences in asset values 2, Amortisation of revaluations , less Total revaluations Income included in regulatory profit / (loss) before tax but not taxable 0 * 18 Discretionary discounts and customer rebates 10, Expenditure or loss deductible but not in regulatory profit / (loss) before tax * 20 Notional deductible interest 3, , Regulatory taxable income 2, less Utilised tax losses 26 Regulatory net taxable income 2, Corporate tax rate (%) 28% 29 Regulatory tax allowance * 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 91, less Amortisation of initial differences in asset values 2, plus Adjustment for unamortised initial differences in assets acquired 39 less Adjustment for unamortised initial differences in assets disposed 6 40 Closing unamortised initial differences in asset values 88, Opening weighted average remaining useful life of relevant assets (years) Sch f.xlsx S5a.Regulatory Tax Allowance

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). EDBs 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(iv): Amortisation of Revaluations ($000) Opening sum of RAB values without revaluations 150, Adjusted depreciation 6, Total depreciation 6, Amortisation of revaluations 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 (374) plus Tax effect of adjusted depreciation 1, less Tax effect of tax depreciation 1, plus Tax effect of other temporary differences* less Tax effect of amortisation of initial differences in asset values plus Deferred tax balance relating to assets acquired in the disclosure year less Deferred tax balance relating to assets disposed in the disclosure year (57) plus Deferred tax cost allocation adjustment (0) Closing deferred tax (392) a(vii): Disclosure of Temporary Differences 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). 81 5a(viii): Regulatory Tax Asset Base RollForward Opening sum of regulatory tax asset values 57, less Tax depreciation 4, plus Regulatory tax asset value of assets commissioned 8, less Regulatory tax asset value of asset disposals plus Lost and found assets adjustment 88 plus Adjustment resulting from asset allocation 89 plus Other adjustments to the RAB tax value 90 Closing sum of regulatory tax asset values 61,414 ($000) Sch f.xlsx S5a.Regulatory Tax Allowance

12 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 62 9 Operational expenditure 10 Capital expenditure 11 Market value of asset disposals 12 Other related party transactions 13 5b(ii): Entities Involved in Related Party Transactions 14 Name of related party 15 Nelson Electricity Ltd * include additional rows if needed 21 5b(iii): Related Party Transactions 50% owned by Related party relationship 22 Name of related party Related party transaction type Value of transaction ($000) Basis for determining value 23 Nelson Electricity Ltd Sales Management services fee for engineering support 49 ID clause 2.3.7(2)(b) 24 Nelson Electricity Ltd Sales Electricity Authority levies oncharged 13 ID clause 2.3.7(2)(c) * include additional rows if needed Description of transaction Sch f.xlsx S5b.Related Party Transactions

13 SCHEDULE 5c: REPORT ON TERM CREDIT SPREAD DIFFERENTIAL ALLOWANCE 7 8 5c(i): Qualifying Debt (may be Commission only) 9 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 nonqualifying 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 Issuing party Issue date Pricing date 11 N/A 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 16 * include additional rows if needed c(ii): Attribution of Term Credit Spread Differential Gross term credit spread differential Total book value of interest bearing debt 23 Leverage 44% 24 Average opening and closing RAB values 25 Attribution Rate (%) Term credit spread differential allowance Sch f.xlsx 15c.TCSD Allowance

14 SCHEDULE 5d: REPORT ON COST ALLOCATIONS This schedule provides information on the allocation of operational costs. EDBs 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 8 Value allocated ($000s) 9 10 Service interruptions and emergencies Arm's length deduction Electricity distribution services 11 Directly attributable 614 Nonelectricity distribution services 12 Not directly attributable 13 Total attributable to regulated service Vegetation management 15 Directly attributable Not directly attributable 17 Total attributable to regulated service Routine and corrective maintenance and inspection 19 Directly attributable 1, Not directly attributable 21 Total attributable to regulated service 1, Asset replacement and renewal 23 Directly attributable 2, Not directly attributable 25 Total attributable to regulated service 2, System operations and network support 27 Directly attributable 1, Not directly attributable Total OVABAA allocation increase ($000s) 29 Total attributable to regulated service 1, Business support 31 Directly attributable 3, Not directly attributable 33 Total attributable to regulated service 3, Operating costs directly attributable 10, Operating costs not directly attributable 37 Operational expenditure 10, Sch f.xlsx S5d.Cost Allocations

15 SCHEDULE 5d: REPORT ON COST ALLOCATIONS This schedule provides information on the allocation of operational costs. EDBs 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 40 Pass through and recoverable costs ($000) 41 Pass through costs 42 Directly attributable Not directly attributable 44 Total attributable to regulated service Recoverable costs 46 Directly attributable 11, Not directly attributable 48 Total attributable to regulated service 11, d(iii): Changes in Cost Alloca5ons* Change in cost allocation 1 CY1 Current Year (CY) 53 Cost category Original allocation 54 Original allocator or line items New allocation 55 New allocator or line items Difference Rationale for change Change in cost allocation 2 CY1 Current Year (CY) 62 Cost category Original allocation 63 Original allocator or line items New allocation 64 New allocator or line items Difference Rationale for change Change in cost allocation 3 CY1 Current Year (CY) 71 Cost category Original allocation 72 Original allocator or line items New allocation 73 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. 79 include addi"onal rows if needed ($000) ($000) ($000) Sch f.xlsx 25d.Cost Allocations

16 SCHEDULE 5e: REPORT ON ASSET ALLOCATIONS This schedule requires information on the allocation of asset values. This information supports the calculation of the RAB value in Schedule 4. EDBs 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 e(i): Regulated Service Asset Values Subtransmission lines Value allocated ($000s) Electricity distribution services 11 Directly attributable 8, Not directly attributable 13 Total attributable to regulated service 8, Subtransmission cables 15 Directly attributable 9, Not directly attributable 17 Total attributable to regulated service 9, Zone substations 19 Directly attributable 22, Not directly attributable 21 Total attributable to regulated service 22, Distribution and LV lines 23 Directly attributable 24, Not directly attributable 25 Total attributable to regulated service 24, Distribution and LV cables 27 Directly attributable 51, Not directly attributable 29 Total attributable to regulated service 51, Distribution substations and transformers 31 Directly attributable 22, Not directly attributable 33 Total attributable to regulated service 22, Distribution switchgear 35 Directly attributable 7, Not directly attributable 37 Total attributable to regulated service 7, Other network assets 39 Directly attributable 13, Not directly attributable Total attributable to regulated service 14, Nonnetwork assets 43 Directly attributable 3, Not directly attributable 45 Total attributable to regulated service 3, Regulated service asset value directly attributable 162, Regulated service asset value not directly attributable Total closing RAB value 163, e(ii): Changes in Asset Alloca/ons* 52 ($000) 53 Change in asset value allocation 1 CY1 Current Year (CY) 54 Asset category 0 Original allocation 55 Original allocator or line items 0 New allocation 56 New allocator or line items 0 Difference Rationale for change ($000) 62 Change in asset value allocation 2 CY1 Current Year (CY) 63 Asset category Original allocation 64 Original allocator or line items New allocation 65 New allocator or line items Difference Rationale for change ($000) 71 Change in asset value allocation 3 CY1 Current Year (CY) 72 Asset category Original allocation 73 Original allocator or line items New allocation 74 New allocator or line items Difference Rationale for change * 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 component. include addi"onal rows if needed Sch f.xlsx 15e.Asset Allocations

17 SCHEDULE 5f: REPORT SUPPORTING COST ALLOCATIONS 7 This schedule requires additional detail on the asset allocation methodology applied in allocating asset values that are not directly attributable, to support the information provided in Schedule 5d (Cost allocations). This schedule is not required to be publicly disclosed, but must be disclosed to the Commission. 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 Have costs been allocated in aggregate using ACAM in accordance with clause 2.1.1(3) of the IM Determination? Yes Service interruptions and emergencies Electricity distribution services Nonelectricity distribution services Arm's length deduction Electricity distribution services Nonelectricity distribution services 13 all % Not directly attributable 18 Vegetation management 19 all % Not directly attributable 24 Routine and corrective maintenance and inspection 25 all % Not directly attributable 30 Asset replacement and renewal 31 all % Not directly attributable 36 Line Item* Allocation methodology type Cost allocator Allocator type Allocator Metric (%) Value allocated ($000) Total OVABAA allocation increase ($000) Sch 5f5g 2016f.xlsx 1 S5f.Cost Allocation Support

18 SCHEDULE 5f: REPORT SUPPORTING COST ALLOCATIONS This schedule requires additional detail on the asset allocation methodology applied in allocating asset values that are not directly attributable, to support the information provided in Schedule 5d (Cost allocations). This schedule is not required to be publicly disclosed, but must be disclosed to the Commission. 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 System operations and network support 38 all % Not directly attributable 43 Business support 44 all % Not directly attributable Operating costs not directly attributable Pass through and recoverable costs 53 Pass through costs 54 all % Not directly attributable 59 Recoverable costs 60 all % Not directly attributable 65 * include additional rows if needed Sch 5f5g 2016f.xlsx 2 S5f.Cost Allocation Support

19 SCHEDULE 5g: REPORT SUPPORTING ASSET ALLOCATIONS 7 This schedule requires additional detail on the asset allocation methodology applied in allocating asset values that are not directly attributable, to support the information provided in Schedule 5e (Report on Asset Allocations). This schedule is not required to be publicly disclosed, but must be disclosed to the Commission. 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 Have assets been allocated in aggregate using ACAM in accordance with clause 2.1.1(3) of the IM Determination? Yes 10 Allocator Metric (%) Value allocated ($000) Subtransmission lines Electricity distribution services Nonelectricity distribution services Arm's length deduction Electricity distribution services Nonelectricity distribution services 13 all % Not directly attributable 18 Subtransmission cables 19 all % Not directly attributable 24 Zone substations 25 all % Not directly attributable 30 Distribution and LV lines 31 all % Line Item* Allocation methodology type Allocator Allocator type 35 Not directly attributable Total OVABAA allocation increase ($000) Sch 5f5g 2016f.xlsx 1 S5g.Asset Allocation Support

20 SCHEDULE 5g: REPORT SUPPORTING ASSET ALLOCATIONS This schedule requires additional detail on the asset allocation methodology applied in allocating asset values that are not directly attributable, to support the information provided in Schedule 5e (Report on Asset Allocations). This schedule is not required to be publicly disclosed, but must be disclosed to the Commission. 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 Distribution and LV cables 37 all % Not directly attributable Distribution substations and transformers 44 all % Not directly attributable Distribution switchgear 51 all % Not directly attributable 56 Other network assets 57 Fibre to Substation Assets ACAM aluation of actual cos Causal 72.27% 27.73% Other % 13,876 13, Not directly attributable 14, , Nonnetwork assets 63 all % Not directly attributable Regulated service asset value not directly attributable 14, , * include additional rows if needed Sch 5f5g 2016f.xlsx 2 S5g.Asset Allocation Support

21 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. EDBs 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 System growth 2, Asset replacement and renewal 1, Asset relocations 1, Reliability, safety and environment: 13 Quality of supply 1, Legislative and regulatory 15 Other reliability, safety and environment Total reliability, safety and environment 1, Expenditure on network assets 6, Expenditure on nonnetwork assets Expenditure on assets 7, plus Cost of financing 22 less Value of capital contributions plus Value of vested assets Capital expenditure 7, a(ii): Subcomponents of Expenditure on Assets (where known) ($000) 27 Energy efficiency and demand side management, reduction of energy losses 28 Overhead to underground conversion Research and development 30 6a(iii): Consumer Connection 31 Consumer types defined by EDB* ($000) ($000) 32 Consumers 20kVA and less Consumers greater than 20kVA * include additional rows if needed 38 Consumer connection expenditure less Capital contributions funding consumer connection expenditure 41 Consumer connection less capital contributions a(iv): System Growth and Asset Replacement and Renewal ($000) ($000) 45 Subtransmission 1 46 Zone substations 2, Distribution and LV lines Distribution and LV cables Distribution substations and transformers Distribution switchgear Other network assets System growth and asset replacement and renewal expenditure 2,470 1, less Capital contributions funding system growth and asset replacement and renewal System growth and asset replacement and renewal less capital contributions 2,441 1, a(v): Asset Relocations System Growth 57 Project or programme* ($000) ($000) * include additional rows if needed 64 All other projects or programmes asset relocations 1, Asset relocations expenditure 1, less Capital contributions funding asset relocations 30 Asset Replacement and Renewal 67 Asset relocations less capital contributions 990 Sch f.xlsx S6a.Actual Expenditure Capex

22 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. EDBs 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 70 Project or programme* ($000) ($000) * include additional rows if needed 77 All other projects programmes quality of supply 1, Quality of supply expenditure 1, less Capital contributions funding quality of supply 80 Quality of supply less capital contributions 1, a(vii): Legislative and Regulatory 82 Project or programme* ($000) ($000) * include additional rows if needed 89 All other projects or programmes legislative and regulatory 90 Legislative and regulatory expenditure 91 less Capital contributions funding legislative and regulatory 92 Legislative and regulatory less capital contributions 93 6a(viii): Other Reliability, Safety and Environment 94 Project or programme* ($000) ($000) * include additional rows if needed 101 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 104 Other reliability, safety and environment less capital contributions a(ix): NonNetwork Assets 107 Routine expenditure 108 Project or programme* ($000) ($000) 109 Information Technology Vehicles * include additional rows if needed 115 All other projects or programmes routine expenditure Routine expenditure Atypical expenditure 118 Project or programme* ($000) ($000) * include additional rows if needed 125 All other projects or programmes atypical expenditure 126 Atypical expenditure Expenditure on nonnetwork assets 521 Sch f.xlsx 26a.Actual Expenditure Capex

23 SCHEDULE 6b: REPORT ON OPERATIONAL EXPENDITURE FOR THE DISCLOSURE YEAR This schedule requires a breakdown of operational expenditure incurred in the disclosure year. EDBs 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 and emergencies Vegetation management Routine and corrective maintenance and inspection 1, Asset replacement and renewal 2, Network opex 5, System operations and network support 1, Business support 3, Nonnetwork opex 4, Operational expenditure 10, b(ii): Subcomponents of Operational Expenditure (where known) 19 Energy efficiency and demand side management, reduction of energy losses 20 Direct billing* 21 Research and development 22 Insurance * Direct billing expenditure by suppliers that directly bill the majority of their consumers Sch f.xlsx S6b.Actual Expenditure Opex

24 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. EDBs 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. 7 7(i): Revenue Target ($000) ¹ Actual ($000) % variance 8 Line charge revenue 42,906 43,129 1% 9 7(ii): Expenditure on Assets Forecast ($000) ² Actual ($000) % variance 10 Consumer connection (11%) 11 System growth 3,697 2,470 (33%) 12 Asset replacement and renewal 1,921 1,527 (21%) 13 Asset relocations 2,690 1,020 (62%) 14 Reliability, safety and environment: 15 Quality of supply 965 1,194 24% 16 Legislative and regulatory 17 Other reliability, safety and environment % 18 Total reliability, safety and environment 1,045 1,367 31% 19 Expenditure on network assets 9,873 6,849 (31%) 20 Expenditure on nonnetwork assets Expenditure on assets 9,873 7,370 (25%) 22 7(iii): Operational Expenditure 23 Service interruptions and emergencies (19%) 24 Vegetation management % 25 Routine and corrective maintenance and inspection 2,022 1,761 (13%) 26 Asset replacement and renewal 1,850 2,158 17% 27 Network opex 5,452 5,412 (1%) 28 System operations and network support 2,416 1,948 (19%) 29 Business support 2,593 3,029 17% 30 Nonnetwork opex 5,009 4,977 (1%) 31 Operational expenditure 10,461 10,389 (1%) 32 7(iv): Subcomponents of Expenditure on Assets (where known) 33 Energy efficiency and demand side management, reduction of energy losses 34 Overhead to underground conversion 1, (77%) 35 Research and development (v): Subcomponents of Operational Expenditure (where known) 38 Energy efficiency and demand side management, reduction of energy losses 39 Direct billing 40 Research and development 41 Insurance % From the nominal dollar target revenue for the disclosure year disclosed under clause 2.4.3(3) of this determination 44 2 From the CY+1 nominal dollar expenditure forecasts disclosed in accordance with clause for the forecast period starting at the beginning of the disclosure year (the second to last disclosure of Schedules 11a and 11b) Sch f.xlsx S7.Actual vs Forecast

25 SCHEDULE 8: REPORT ON BILLED QUANTITIES AND LINE CHARGE REVENUES This schedule requires the billed quantities and associated line charge revenues for each price category code used by the EDB 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. 8 8(i): Billed Quantities by Price Component Billed quantities by price component Price component 0STL 0TBS 0UNM 1ANY 1DAY 1NIT 1OPK 1WSR 2ANY Consumer group name or price category code Consumer type or types (eg, residential, commercial etc.) Standard or nonstandard consumer group (specify) Average no. of ICPs in disclosure year Energy delivered to ICPs in disclosure year (MWh) W/day Daily Daily c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh 15 0S Unmetered Streetlamps Standard 26 2, , TBS Temporary Builders Supplies Standard UNM Unmetered Supplies Standard kva Capacity Standard 35, ,519 5, ,641 1,677 4, , kva Capacity Standard 2,678 95,436 5,370 65, HLFC Domesitic low user, 20 or 30 kva Capacity Standard LLFC Domesitic low user, 40150kVA Capacity Standard HLF High Load Factor, 15150kVA Capacity Standard 53 9, Between 150 and 3000kVA Standard 4 10, Between 150 and 3000kVA Standard 4 8, Between 150 and 3000kVA Standard , Between 150 and 3000kVA Standard 2 14, > 3000, Nonstandard 1 103, > 3000, Nonstandard 1 14,735 CB Cobb River Hydro Nonstandard Add extra rows for additional consumer groups or price category codes as necessary 26 Standard consumer totals 38, , , ,641 1,677 4, ,429 65, Nonstandard consumer totals 3 118, Total for all consumers 38, , , ,641 1,677 4, ,429 65, Unit charging basis (eg, days, kw of demand, kva of capacity, etc.) Sch f.xlsx S8.Billed Quantities+Revenues

26 SCHEDULE 8: REPORT ON BILLED QUANTITIES AND LINE CHARGE REVENUES This schedule requires the billed quantities and associated line charge revenues for each price category code used by the EDB 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. 31 8(ii): Line Charge Revenues ($000) by Price Component Line charge revenues ($000) by price component Consumer group name or price category code Consumer type or types (eg, residential, commercial etc.) Standard or nonstandard consumer group (specify) Total line charge revenue in disclosure year Notional revenue foregone from posted discounts (if applicable) Total distribution line charge revenue Price component 0STL 0TBS 0UNM 1ANY 1DAY 1NIT 1OPK 1WSR 2ANY Rate (eg, $ per day, $ $0.116/W/day $1.35 / day $0.53 / day per kwh, etc.) 37 0S Unmetered Streetlamps Standard $268 $183 $85 $ TBS Temporary Builders Supplies Standard ($1) ($1) ($1) 39 0UNM Unmetered Supplies Standard $17 $11 $6 $ kva Capacity Standard $20,454 $14,031 $6,423 $3 $15,680 $169 $134 $27 $2,506 $ kva Capacity Standard $9,570 $6,918 $2,652 $2 $29 $2 $5,308 2HLFC Domesitic low user, 20 or 30 kva Capacity Standard 2LLFC Domesitic low user, 40150kVA Capacity Standard $23 $18 $5 $6 HLF High Load Factor, 15150kVA Capacity Standard $655 $502 $153 $3 31 Between 150 and 3000kVA Standard $363 $150 $ Between 150 and 3000kVA Standard $400 $251 $ Between 150 and 3000kVA Standard $6,244 $3,969 $2, Between 150 and 3000kVA Standard $644 $390 $ > 3000, Nonstandard $1,979 $215 $1, > 3000, Nonstandard $563 $230 $ NDL/New Connections New Connectionns, NDL Standard $319 $ Embedded generators Cobb, Pupu etc Nonstandard $1,631 $1,308 $ Add extra rows for additional consumer groups or price category codes as necessary 48 Standard consumer totals $38,956 $26,741 $12,215 $273 ($1) $17 $15,709 $169 $134 $27 $2,508 $5, Nonstandard consumer totals $4,173 $1,753 $2, Total for all consumers $43,129 $28,494 $14,635 $273 ($1) $17 $15,709 $169 $134 $27 $2,508 $5, (iii): Number of ICPs directly billed Check OK 53 Number of directly billed ICPs at year end 7 Total transmission line charge revenue (if available) Sch f.xlsx S8.Billed Quantities+Revenues

27 DULE 8: REPORT ON BILLED QUANTITIES AND LINE CHARGE REV dule requires the billed quantities and associated line charge revenues for each price category code use 8(i): Billed Quantities by Price Component 2DAY 2NIT 2OPK 2WSR 2LANY 2LDAY 2LNIT 2LOPK 2LWSR 2HANY 2HDAY 2HNIT 2HOPK 2HWSR HLFANY HLFDAY HLFNIT HLFOPK HLFWSR GENA 1 2 2HLFC Consumer group name or price category code Consumer type or types (eg, residential, commercial etc.) Standard or nonstandard consumer group (specify) c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh c/kwh Daily kva per Day Daily 0S Unmetered Streetlamps Standard 0TBS Temporary Builders Supplies Standard 0UNM Unmetered Supplies Standard 1 15 kva Capacity Standard kva Capacity Standard 2HLFC Domesitic low user, 20 or 30 kva Capacity Standard 2LLFC Domesitic low user, 40150kVA Capacity Standard HLF High Load Factor, 15150kVA Capacity Standard 31 Between 150 and 3000kVA Standard 33 Between 150 and 3000kVA Standard 34 Between 150 and 3000kVA Standard 35 Between 150 and 3000kVA Standard 6.1 > 3000, Nonstandard 6.2 > 3000, Nonstandard CB Cobb River Hydro Nonstandard Add extra rows for additional consumer groups or price category codes as necessary Standard consumer totals Nonstandard consumer totals Total for all consumers 1,384 35,331 17,856 7, , , ,334 3,846 1, ,856 7, , ,334 3,846 1, ,596 35, , ,856 7, , ,334 3,846 1, ,596 35, ,377 1 Sch f.xlsx S8.Billed Quantities+Revenues