Western Samoa Power System Planning Study - Asian Development ...

ASIAN DEVELOPMENT BANK
WESTERN SAMOA POWER SYSTEM PLANNING STUDY
T.A. NO . 1311 - SAM
FINAL REPORT
VOLUME 2 - APPENDICES & FIGURES
ASIAN DEVELOPMENT BANK
E,JIJ 2 G 1"1 `)
91D POWER - mm - j- )
NOVEMBER 1991 GIBB AUSTRALIA PTY LIMITED
in association with JOHN WORRALL PTY LTD
and COOPERS & LYBRAND ASSOCIATES LTD

12 November 1991
Dear Sir,
Yours faithfully,
for GIBB AUSTRALIA F iY LIMITED
P .J. COOPER
En c1 .
1 , 1 1 '. 1 . I • I : •
I 1 . 1 1. , .,
ITI :J .1ITED
Pc, BOX ) : :' ('l : K I IN AC7F 21-U5
-T : :L (Ik , )'w:FAA (rwll'h 1540
RE : WESTERN SAMOA POWER SYSTEM PLANNING STUDY
T .A. NO . 1311 - SAM
FINAL REPORT
We are pleased to forward twelve (12) copies of the above report, comprising :
Volume 1 - Main Report
Volume 2 - Appendices & Figures
I I k' --' II I
14 51A N L,-
EID
Note : 12 copies were also sent by
Consultants to Government .
J
LOFMENT BANK
\I A . A 1 . I 1' `
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n s r .
PlkJ .c rcfcr u,
C648/G
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Asian Development Bank
Distribution :
6 ADS Avenue, . Programs East 3 (Mr . T . Watanabe)
Mandaluyong,
9 Records Section (Ms . L . Roa)
Metro Manila PHILIPPINES
3 .
4 .
Mr . J . E . Rockett
Mr . S . R . Andrews
(o .r .)
A T TLNTtCN Mr . V . Krlshnaswamy
Manager, Power Division (East)
5 .
6 .
Mr . K . Sakai
South Pacific Regional Office

WESTERN SAMOA POWER SYSTEM PLANNING STUDY
APPENDIX A TERMS OF REFERENCE
Figure B .1
Figure B .2
Figure B .3
Figure 13 .4
Figure B.5
Figure B .6
Figure B .7
Figure B .8
Figure B .9
Figure 8 .10
Figure B .11
Figure B .12
FINAL REPORT
TABLE OF CONTENTS
APPENDIX B LOAD CHARACTERISTICS
8 .1 Introduction B/1
13 .2 Data B/1
B .3 Upolu Seasonal Load Characteristics B/1
8 .4 Upolu Daily Load Curves B/2
B .4 .1 Annual Peak Day B/3
B .4 .2 Typical Weekday B13
B .4 .3 Typical Weekend Days 6/4
6 .5 Upolu Daily Load Duration Curves B/4
B .6 Derived Upolu Annual Load Duration Curve B/4
8 .7 Savai'i Seasonal Load Characteristics B/4
B .8 Savai'i Daily Load Curves B/5
Upolu Annual Peak Days
Upolu Weekday Loads January 1988
Upolu Weekday Loads March 1988
Upolu Weekday Loads May 1988
Upolu Weekday Loads August/Sept. 1988
Upolu Saturday Loads 1988
Upolu Sunday Loads 1988
Upolu Load Duration Curves January 1988
Upolu Load Duration Curves March 1988
Upolu Load Duration Curves May 1988
Upolu Load Duration Curves August/Sept . 1988
Savai'i Weekday Loads - Four days in September 1989
APPENDIX C RECONSTRUCTION OF EXISTING GENERATING PLANT
C .1 General
C .2 Tanugamanono Power Station
C .3 Hydro Plant
C3 .1 General
C3.2 Fale-ole-Fee
C3 .3 Lalomauga/Sauniatu
C3 .4 Samasoni
C3 .5 Alaoa
C3 .6 Fuluasou
A/1
C/1
C/1
C/1
C/1
C/2
C12
C/3
C/3
C/4

TABLE OF CONTENTS (Cont)
APPENDIX D REVIEW OF TECHNICAL MANPOWER D/1
D .1 Organisation Chart D/1
D .2 Level of Staffing D/1
D .3 Policy of Samoanisation D/1
D .4 Recommendations D/2
APPENDIX E FINANCIAL ANALYSIS
Table 1 Summary of EPC's Financial Past Performance
Table 2 Inflation Rate Assumptions
Table 3 Forecasts of EPC's Sales and Generation 1988 to 2000
Table 4 Diesel Fuel Price Forecasts and Forecasts of EPC Fuel Costs and Operating
and Maintenance Costs
Table 5 Summary of Loan Balances (Run A)
Table 6 Summary of New Loans/Drawdowns (Run A)
Table 7 Summary of Loan Repayments (Run A)
Table 8 Summary of Loan Interest Payments (Run A)
Run A Summary of Key Financial Indicators and Financial Statements
Run B Summary of Key Financial Indicators and Financial Statement
Run C Summary of Key Financial Indicators and Financial Statements
Run D Summary of Key Financial Indicators and Financial Statements
APPENDIX F GENERATION OPERATION MAINTENANCE PROCEDURES
F.1 General F/1
F .2 Tanugamanono Power Station F/1
F .3 Tanugamanono Development Plan F/2
APPENDIX G ORGANISATIONAL ISSUES : FINANCE & ACCOUNTING

FIGURES

WESTERN SAMOA POWER SYSTEM PLANNING STUDY
DRAFT FINAL REPORT
LIST OF FIGURES
Figure 1 .1 Western Samoa - Power Generation and Distribution
Figure 3 .1 Upolu Energy Generated
Figure 3 .2 Upolu Domestic Sales
Figure 3 .3 Upolu Commercial Sales
Figure 3.4 Upolu Industrial Sales
Figure 3 .5 Upolu Hotel Sales
Figure 3 .6 Upolu Religous & School Sales
Figure 3.7 Long Term Energy Generated : Savai'i System
Figure 3.8 Energy Sales Savai'i System

GILBERT I5 i - ,
ELLICE IS
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WESTERN
ti9~ SAMOA
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PA C I F I C 0 C E A IN
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APDLIMA
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0 10 20
GIBE AUSTRALIA
Consulting Enpm.en
0 a e ..21 C~ AC7 2ms
LEGEND
.2 Existing Power Stations
1- SAMASONI
2-RIUAa11J
3-FALE OLE FEE
L - AL"
5-SAIMIATA ILALUM4LIGAI
6-TANUGAMANOW IDIESELI
7-ASAU IDIESEL)
B-SALELOIA3A IDIESEL I
9-FAGALGA IAFULILOI-under construction
oil Potential Hydro •E lertnc Power Station Sites
1D- IULDIDLELEI
11-FA .ESE ELA
12-LOTDFAGA HIGH HEAD
T3- LDTOFAGA LOW HEAD
14-TAFITOALA
15-FLMSIA FALLS
16-SOPOAGA
1T-TI 'AVER
1B-NAMO RIVER
22KV DISTRIBUTION FEEDER
6 .6KV DISTRIBUTION FEEDER
22KV LINES CONSTRUCTED UNDER RURAL ELECTRIFICATION R20GRAM
UPOLU ISLAND
30 kilom°tr°s
AtEA
w
WESTERN SAMOA PLANNING STUDY
POWER GENERATION AND DISTRIBUTION
FIGURE N 1 .1

150
1 40 --
130
FIGURE 3 .1 : UPOLU ENERGY GENERATED
TIME SERIES PROJECTION
YEAR
' +, LO i r PUN I c'pTRf , 1 0 t SHOUT RUN rYTR, j I I
8 .7% AAGR
4 .8% AAGR

23
22
G
+ TAPIFF/CHST . EXTRAP
I I I I I I I I
FIGURE 3 .2 : UPOLU DOMESTIC SALES
ELECTRIC POWER CORPORATION
YEAR
0 TIME SERIES EXTRA
I I I I
9
I
4

% -1
f t ! I I I I I I ! I I I I I I I
1982 1985
+ GOP/TARIFF EXPTRAP .
FIGURE 3 .3 : UPOLU COMMERCIAL SALES
ELECTRIC POWER CORPORATION
01
1990
YEAR
0
01
1995
O TIME SERIES EXTRAP_
11
2000

2 .5 -~- r i I
1985
© ./TARIFF IND EXTRAP .
FIGURE 3 .4 : UPOLU INDUSTRIAL SALES
ELECTRIC POWER CORPORATION
I I I I I I I -'T I I 1 I !
1990
YEAR
1995
+ TIME SERIES EXTRAP .
I I I I I I I
2000

z
L l
c 1_8
i
w
O " .7 -
1 .5
1
1985
+ TAF IF F/BEDS ` ExTRA,P .
1 I I I i I
FIGURE 3.5 : UPOLU HOTEL SALES
ELECTRIC POWER CORPORATION
I I I I I
1990
! f I i
YEAR
11,
4
I I I I I
1995
0 1TIAAE f"~RAFI
I I I
2000

U? 1 r,
w H
Q C
(I?
U)
J
0
0
cn 6
w
I
1
4
L
982
I I I --- I
1985
+ , rD CAP'/ TAR[FF
i I I I I I I I
FIGURE 3 .6 : UPOLU RELIGIOUS & SCHOOL SALES
I
I
ELECTRIC POWER CORPORATION
-11
10
I I I
i
1990
YEAR
I 4 ITIME
Al
FRIES I F)

(
10
FIGURE 3 .7: LONG TERM ENERGY GENERATED : SAVAII SYSTEM
YEAR
I I I I I I I I I I I I I

7
C-
5
4
3
2
1
0
1980
E
i i
I I
1985
FIGURE 3 .8 : ENERGY SALES SAVAII SYSTEM
f I I I f I I I I I I I I I
I
1990
I I
YEAR
+ TIMESERIESEXTRAP 0 NoCUSTOMERS EXTRAP
1995
i t
i
2000

APPENDIX A
TERMS OF REFERENCE

A . Objectives
The objectives of the study are :
The study will be carried out by a Consultant with previous experience in all aspects of the
work . The scope of work to be undertaken by the Consultant under the technical assistance
comprises the following
1 . Load Forecasts
(i)
(i)
review of the major changes in the Government's approach and strategies for
economic development and assessment of their possible impact on the
growth of prospective power demand ;
review of load data and development of an appropriate methodology for load
forecasting including a suitable framework for data collection, compilation and
analysis in the context of (i) above and the changes in domestic and external
economic situation ;
A/ 1
APPENDIX A
TERMS OF REFERENCE
(i) to formulate a least-cost generation and transmission expansion plan for EPC
covering the next 15 years ;
to develop a ten-year investment program based upon the expansion plan ;
and
(iii) to make recommendations designed to place EPC in a sound financial
position .
In addition, on-the-job training will be provided so that load forecasts can be updated by EPC
staff .
B . Scope of Work
(iii) incorporate in the load forecasting methodology factors to accommodate the
price elasticity of demand relative to probable tariff levels, and others, such
as the per capita or per household income, consumer price index, and
indicators of urbanization, as appropriate .

2. Planning
A/ 2
(iv) review and update EPC's long-term load forecast for 1990 through 2005 ;
(v) provide 'on-the-job' training for EPC staff in load forecasting procedures and
methodology such that EPC staff can update the load forecasts as required .
If the methodology involves computer software programs, a copy of these
shall be provided to EPC together with instructions and source codes, if
necessary ; and
(v) prepare load duration curves suitable for the generation planning studies ;
() review previous hydropower potential, pre-feasibility and feasibility studies and
selection of candidate hydropower projects for the planning horizon ; review
other potential generation sources, in addition to diesel, as candidates for
developments ;
(i) review existing transmission system development plans, and determine the
technicalleconomic transmission voltage level appropriate for the system
expansion ;
evaluate the alternate sources of generation in terms of the country's capacity
to meet added foreign exchange demands, and the availability of counterpart
funds ;
(iv) establish appropriate system reliability indices for system planning ;
(v) carry out loss minimization studies to determine if minimum power factor
requirements should be considered for industrial consumers, or if reactive
compensation may be necessary ;
(v) update and/or prepare cost estimates with details of foreign and local costs
covering the entire project cycle - feasibility, design, engineering and
construction - for the power generation and transmission options ;
(vii) carry out system planning studies to develop least-cost generation programs
for EPC's systems for the planning horizon utilizing computer programs ;
(viii) carry out transmission studies to develop the least cost transmission
expansion programs utilizing computer programs ;
(ix) carry out sensitivity analysis for developing the least-cost power development
program for the planning horizon ; and

C . Reports
3 . Financial
(i)
A/3
(x) prepare a comprehensive ten-year investment program (1991 - 2000) with
details of foreign currency and local currency costs corresponding to the
formulated power development program .
examine current financial reports of EPC, review recent tariff study report, and
consider other relevant available information to assess the current and
prospective financial position of EPC ;
prepare a 10-year financial projection for the utility based on the
recommended power development program ;
consider the funding requirements for the recommended expansion program
to the year 2000, and investigate the potential sources of funds, both foreign
exchange and local currency ; and
(iv) make recommendations in regard to any financial restructuring, or other
action that may be appropriate or desirable, in the light of the financial
covenants to be met, the desirable debt/equity structure, and other relevant
matters to ensure that EPC achieves a sound financial position .
The following reports shall be prepared by the Consultant and submitted simultaneously to
the Bank, the Government, and EPC -
(i) a brief inception report describing the work completed in the first four weeks, to be
submitted within five weeks of the start of work . The report should note any problems
or difficulties that have arisen and any other matters, such as lack of data, etc., that
may affect the progress of the study ;
(i) a draft final report upon completion of the study, containing the findings and
recommendations, and appropriate supporting documentation . This report is
expected to be completed no later than 12 weeks after the start of the study and will
be discussed at a tripartite meeting following review by the Government/EPC and the
Bank ; and
(iii) the final report incorporating, as appropriate, views and comments discussed at the
tripartite meeting. The final report shall be submitted to the Bank and the
Government/EPC within one month of the tripartite meeting .

D. Implementation
It is estimated that the study will require about 6 man-months of specialist consultant services,
and that the overall duration will be approximately 4 months . In order to complete the work
in the time indicated, it is envisaged that the study team will comprise three or four specialists .
The expertise of the team should encompass power utility economics, financial analysis, load
forecasting, generation and transmission engineering and power system planning .
E. Services to be Provided by EPC
EPC will provide the following services and facilities at no cost to the consultant :
() counterpart EPC staff will be assigned to assist the consultants during the study ;
(i)
A/ 4
secretarial, and clerical services, copying, international and domestic telex/facsimile
and telephone facilities :
(iii) local transportation facilities for field work, as necessary ; and
(iv) reasonable, air-conditioned office space with appropriate facilities, including
telephone .

APPENDIX B
LOAD CHARACTERISTICS

B .1 Introduction
B.2 Data
B /1
APPENDIX B
LOAD CHARACTERISTICS
An assessment of the future energy and peak demand of the system and the capability of
existing and proposed generating plant in meeting these requirements must take into account
the characteristics of the system load, As part of this planning study load allocation
modelling has been carried out by computer to determine the firm capacity available from
various combinations of type and size of generating plant in future years .
Given the time constraints of this study, and the lack of readily available reliable hydrological
data, load matching is based on a series of typical daily load curves yearly indexed for load
growth and monthly indexed for seasonal variation .
Half hourly machine loads in kW are available from power station log sheets for both Upolu
and Savaii . Unfortunately all log sheets are missing for 1989 as are the peak day log sheets
for 1988 . The machine logs for Savaii have a number of serious inconsistencies .
Monthly production reports recording weekly system peaks and monthly kWh production for
each island are available and appear reasonably accurate .
8 .3 Upolu Seasonal Load Characteristics
As Upolu has a number of seasonal run of river hydro electric generators, daily load allocation
modelling is required on a seasonal basis, to assess firm hydro capacity and the amount of
hydro energy which can be used by the system at any time . It is thus necessary to project
demand through the months of future years . Annual energy and peak demand for the system
have been projected to year 2010, see Section 3 . It remains to relate the daily energy and
peak demand in any month to the annual energy and peak of a year .
For this exercise monthly load data for the years 1979 to 1989 were abstracted from EPC
Monthly Generation Reports. See Table B . 1 . The set of figures given in Table B .1 for energy,
load, and Monthly Load Factor represent a continuous time series of 11 x 12 sets of monthly
figures.
The data appear to have a relatively small seasonal movement with peak in all months being
within 10% of the annual peak . The annual peak days cluster about the month of May, and
the minimum monthly peaks cluster around January and February . It appears possible that
seasonal demand may be a function of the length of the day which would be consistent with
the peak occurring in the evening and being caused by a lighting load . However this

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B .4
Upolu dally load curves
B /2
interpretation is not supported by data from the Savaii system . From Table B .1 it can be seen
that the intensity of the annual peak load as measured by the ratio of annual peak to average
monthly peak, and the Annual Load Factor, have been remarkably stable over the eleven
years considered .
By definition a standard factor to relate a monthly peak to an annual peak must be a seasonal
index, that is excluding irregular events . In order to produce a monthly index, the ratio of the
monthly maximum demands to annual maximum demand were averaged for each calendar
month over the eleven year period and then normalized to the month of highest average ratio .
The resulting seasonal series for relating monthly peak to annual peak is given in Table B .2
below :
TABLE 8 .2 : SEASONAL VARIATION OF MONTHLY PEAK
Month of Year Ratio of Monthly
Maximum Demand
January 0 .935
February 0.963
March 0.972
April 0.98
May 1 .000
June 0 .977
July
August
0 .979
0.975
September 0 .984
October 0 .990
November 0 .990
December 0 .983
Daily load curves relating to one week in each of the months of January, March, May, and
August of 1988 and for the annual peak days from 1983 to 1988 were studied in detail, see
Figures B.1 to B .7 . For 1988 the peak day log was missing and a near peak day was
substituted . The 1988 weeks were selected as being reasonably representative of weekly
loads in the year including the month of anticipated annual peak (May), the month of

B .4.1 Annual Peak Day
B /3
anticipated minimum daily peaks (January) and average load months of May and August .
These months are also representative of the wet and humid months, e.g., January and March
and the cooler and drier months of May and August .
Annual peak day load characteristics are worthy of particular study as the financial return on
the cost of equipment specifically installed to meet annual peak is extremely low. Demand
control or modification policies, including planned load shedding, aimed at reducing annual
peak may be very cost effective . The Upolu annual peak day load curves are given for
1983/1988 in Figure B.1 .
The probable effectiveness of demand control measures in Upolu may be limited by the
flatness• of the daily peak. On annual peak weekdays load exceeds 90% of peak for eleven
hours of the day. Also although the load on a peak day is much higher than near peak days
the shape of the daily load duration curve remains similar . From Table B .2 it can be seen that
the seasonal effect on peak is low . On the average over a 10 year period the lowest monthly
peak is within 6.5% of the highest monthly peak . From Figure B .1, it is interesting to note that
in two years, 1984 and 1988, the peak day occurred on a Saturday . This indicates that
neither industrial nor commercial load contributes significantly to annual peak and therefore
measures to modify the load demand of major customers may not significantly affect the
annual peak .
In the period from 1979 to 1989, the annual peak occurred most frequently in the month of
May . In all years except one, the annual peak day occurred in the dry season when because
of the seasonal reduction in run of river hydro generation, the Electric Power Corporation
restricted the available plant capacity . Thus despite the difficulty of modifying the peak which
probably comprises overwhelmingly domestic lighting load, successful control measures could
bring useful investment cost relief to the Corporation .
it may be inferred from Figure B .1 that the commercial and industrial day peak is growing with
respect to the evening peak . This conclusion is not supported by an apparent historic trend
to higher monthly load factor or to a higher annual load factor .
B.4 .2 Typical Weekday
The 20 typical weekday loads analyzed, see Figure B.2, B .3, B .4 & 8 .5 are similar in shape .
Shortly before dawn the load steadily increases from about 50% of daily peak load to 90% of
daily peak by 9 am. This early near peak continues, apart from a 10% dip in load between
12 noon and 2 pm, until 4 .30 pm . The load then declines to about 65% of daily peak until the
daily peak is reached about 8 p.m . After 8 p .m . the load declines slowly to about 50% of daily
peak at midnight . This lower load level remains fairly constant until just prior to dawn when
the daily cycle repeats . At times of low monthly peak it is possible for the daily peak to occur
in the morning between 1 t am and noon. The cycle of load changes throughout each
weekday and over the seasons is very consistent .

B .4 .3 Typical Weekend Days
B /4
On Saturdays, see Figure B .6, there is a low peak in the morning, probably related to
commercial shopping activity, followed by a decline in load in the afternoon and then an
evening daily peak at dusk . It is possible for the Saturday peak to be the monthly peak or
indeed the annual peak . On Sundays, see Figure B.6, the load is dominated by the sharp
evening peak occurring at dusk. On Saturdays, and also on Sundays, load shape is very
consistent throughout differing seasons .
B .5 Upolu Dally Load Duration Curves
Normalized daily load duration curves were calculated for average weekdays where evening
peak occurred, and for Saturdays and Sundays for the months of January, March, May and
August 1988, see Figures 8 .8, B .9, 8 .10 and B .11 .
B .6 Derived Upolu Annual Load Duration Curve
An Annual Load Curve was estimated from the 1988 daily load data referred to above,
proportioning weekdays and weekend days, adjusting peak to annual peak, and proportioning
load until the load factor corresponded to the 1988 annual load factor. As the data represent
different seasons and conditions of load it may be expected that the method would generate
a shape close to the annual load duration curve, close enough in any event to provide an
overview .
B .7 Savell Seasonal Load Characteristics
Monthly load data for the years 1980 to 1989 were abstracted from EPC monthly generation
reports . See Table B .3. This set of figures represents a continuous time series of 10 by 12
sets of monthly figures . The Salelologa and Asau systems were interconnected early in 1986 .
The figures given in the table prior to 1986 are the summation of Asau and Salelologa log
sheets.
Since the interconnection of the two systems, which coincidentally added a considerable
number of new customers in rural villages, the annual load factor has dropped to below 30%,
and the annual peak load has risen to nearly twice the lowest monthly peak .
The data appear to have a relatively weak seasonal movement with the annual peak occurring
in five different months in the years considered . Within each year since interconnection of the
systems the annual peak days have clustered about the month of December, with the annual
minimum peak well spread, but perhaps represented by April . The load in Savaii is
predominantly domestic lighting and it may be expected that electricity consumption would
increase slightly as the day shortens in mid year . This is not evident from the data.

TABLE B .3 : SAVAII MONTHLY LOAD DATA
ELECTRIC POWER CORPORATION
1980/1989
GENERATION DEC NOV OCT SEPT' AUG JLY JUN MAY APL MAR FEB JAN ANNUAL
1989 KW' 720 547 781 593 662 : 560 507 513 505 832 893 MAX DEMAND
MIN/MAX 0 .806 0 .000 0 .813 0 .852 0 .664 0 .741 • 1 .000 0 .627 0 .568 0.574 0-586 0 .932 0 .662 AV r
KWH' 224 213 207 189 208 174 181 181 173 165 174 195 2,284 KWHPA
MLF 0 .418 0 509 0 .345 0,471 0 .353 0 .282 0 .434 0-474 0.432 0 .513 0 .315 0 .292 AU
1968 KW' 387 348 510 480 520 464 495 525 490 : : 33.5 455 ;^: : .-7-.2 :. . 725 MAX DEMAND
MIN/MAX 0.534 0 .480 0 .703 0 .662 0 .717 0 .640 0.683 0.724 0 .676 0.462 0 .628 1 .000 0 .659 AV .,
KWH • 143 101 152 120 102 185 158 146 129 138 121 184 1,658 KwsPA
MLF 0.497 0 .403 0 .401 0 .347 0 .264 0 .478 0 .443 0 .374 0 .363 0.554 0 .398 0 .341 0 .261 ALP
1947 KW' 705 %-f-
. . . . . . . . . . . 628 654 598 638 660 641 612 592 664 788 MAX DEMAND
MIN/MAX 0.897 1 .000 0 .618 0799 0.832 0 .758 0.812 0.840 0 .816 0.779 0 .753 0 .845 0 .812 Av. w
KWH • 181 179 160 169 162 100 160 165 160 165 119 178 1,968 KW H PA
MLF 0.345 0 .316 0 .444 0 .374 0 .312 0 428 0.348 0 .336 0 .347 0.340 0 .299 0 .360 0 .286 ALF
1986 KW ?x 5 428 438 465 422 505 469 407 395 370 378 350 552 MAX DEMAND
MIN/MAX 1 .000 0 .775 0 .793 0 .842 0 .764 0.915 0 .850 0 .737 0 .716 0 .670 0 .685 0 .634 0 .782 Av. r
KWH 119 109 119 109 110 114 109 119 102 104 90 103 1,307 KWHPA
MLF 0.290 0 .354 0 .385 0.326 0 .350 0 .303 0.323 0 .393 0 .359 0 .378 0 .354 0 .396 0 .270 ALF
1985 KW :'t~,'' .:: 243 249 243 240 280 ;210 • 223 WA N/A 283 mAx DEMAND
MINIMAX 1 .000 0 .859 0.880 0.859 0 .880 0 .000 0 .989 0 .000 0 .742 0 .788 N/A N/A 0 .583 AV. %
KWH 101 .7 90 .94 95.12 87 .24 91 .61 88 .84 79.75 84.17 75 .5 76.59 NIA N/A 871 KWH PA
MLF 0.483 0 .520 0.513 0.499 0 .494 0 .396 0 .499 0 .462 0 .351 ALF
1984 KW - . s : 268 261 NIA 188 258 243 257 2.42 268 258 259 298 MAX DEMAND
MINIMAX 1 .000 0 .890 0 .876 0 .000 0 .631 0 .866 0 .115 0 .862 0 .812 0 .866 0 .866 0.869 0 .780 Av. r
KWH 77.71 71 .13 74.2 70 .05 71 .28 69 .95 67.65 72 .21 68 .96 70.88 85.71 73 .73 853 KWHPA
MLF 0.350 0 .369 0 .382 0 .509 0 .364 0 .387 0 .378 0 .396 0 .369 0 .379 0.424 0 .327 Mf
1983 KW N/A 266 267 193 192. NIA 255 268 276 289 268 £x#26 280 MAX DEMAND
MIN/MAX 0 .000 0 .950 0 .964 0 .689 0 .688 0 .000 0 .946 0 .950 0.986 0 .961 0 .957 1000 0 .757 Av . r
KWH 77.14 72 .25 73 .73 68 .78 72 .44 N/A 73.75 78 .45 74 .9 74 .92 68 .63 75 810 KWH PA
MLF N/A 0 .377 0 .371 0 .495 0 .507 N/A 0 .387 0 .396 0.377 0 .374 0 .381 0.399 0 .330 ALF
1982 KW 293 267 ZW 257 253 259 267 258 258 268 258 262 308 MAX DEMAND
MIN/MAX 0 .961 0.867 1 .000 0 .834 0 .821 0 .841 0 .834 0 .841 0.838 0 .838 0 .838 0.851 0.863 Av. %
KWH 79.94 75 .25 67 .16 71 .33 74.55 74 .18 72.33 76.42 71 .63 73.34 64.5 72.1 873 KWHPA
MLF 0 .367 0.340 0 .322 0 .385 0 .398 0 .385 0 .391 0 .397 0,386 0 .382 0 .372 0 .370 0.323 ALF
1981 KW 257 249 ¢ : 254 241 246 241 246 239 238 227 238 306 MAX DEMAND
MIN/MAX 0 .840 0.814 1 .000 0 .830 0 .788 0 .804 0 .788 0 .804 0 .781 0 .742 0771 0771 0 .811 AV r
KWH 71 .37 65 .15 70 .93 88.09 67 .04 68 .85 85.98 68 66.66 67 .81 58 .79 66.34 B03 KWNPA
MLF 0 .347 0.383 0-312 0 .361 0 .374 0 .376 0 .380 0 .372 0.387 0 .402 0 .371 0-323 0 .300 ALF
1980 KW 248 225 235 230 200 196 198 210 182 181 192 270 MAX DEMAND
MIN/MAX 0 .919 0.833 0 .870 0 .852 1 .000 0 .741 0 .728 0.733 0 .778 0 .674 0 .670 0 .711 0 .792 AV w '
KWH 87 .44 64 .14 6808 65 .52 71 .67 60 .35 53 .94 57 .56 55.85 54 .51 50 .2 63 .52 733 KWH PA
MLF 0 .366 0.396 0 .389 0 .396 0 .357 0-406 0 .382 0 .391 0 .389 0 .403 0 .413 0 .445 0 .310 ALF
NOTE ' DENOTES BOTH A ;AFI ANF) nALELOI'- • : A F:v!'.7FMSCCUMA N=G

B .8 Savail Daily Load Curves
B l5
Four typical daily load curves are shown in Figure B . 12 . These curves illustrate the very sharp
evening peak caused by the domestic lighting load .The power station logs at Salelologa are
most inaccurate and a number of the variations between various days may well be due to
recording errors.
In view of the inaccurate power station logs, and as there was no requirement for load
allocation modelling studies in Savaii, neither typical daily load curves nor an annual load
curve were derived .

1 2 3 4 5
FIGURE B .1 : UPOLU ANNUAL PEAK DAYS
1983/1989
6 7 8 9 10 11 12 13 14 15 16 17 15 19 20 21
TIME (NOUR5)
22 23

c
U-.
U")
J
c
C
FIGURE B .2 : UPOLU WEEKDAY LOADS JANUARY 1988
Monday 18 to Friday 22
-
DATE PEAK % OF
ANNUAL PEAK
DLF
Monday 18 6300 85 77
Tuesday 19 6530 89 76
Wednesday 20 6210 84 76
Thursday 21 6430 87 75
Friday 22 6290 85 76

I
2
I
3 4
I
5
FIGURE B .3 : UPOLU WEEKDAY LOADS MARCH 1988
I
6
I
7
I
8
Monday 7 to Friday 11
DATE PEAK % OF
ANNUAL PEAK
DLF
Monday 7 6700 91 71
Tuesday 8 6890 93
Wednesday 9 6570 89 75
Thursday 10 DATA DISCARDED AS POSSIBLE LOAD SHEDDING
Friday 11 6590 89 75
I I I I I I I I I I I I I 1
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24
TIME (HOURS)

4
H-
IO
T
FIGURE B .4 : UPOLU WEEKDAY LOADS MAY 1988
Monday 16 to Friday 20
I
DATE PEAK % OF
ANNUAL PEAK
DLF
Monday 16 6410 87 73
Tuesday 17
DATA DISCARDED
Wednesday 18 5670 77 77
Thursday 19 6300 85 76
Friday 20 6530 89 74
2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
TIME (HOURS)
22
1
I
23 24

ac
0
---
1 2
FIGURE B.5 : UPOLU WEEKDAY LOADS AUGUST/SEPT . 1988
Monday 29 to Friday 2
DATE PEAK % OF
ANNUAL PEAK
DLF
Monday 29
Tuesday 30
6800
7160
92
97
74
71
Wednesday 31 6650 90 76
Thursday 1 6950 94 73
Friday 2 6970 95 .74 ,
3 4 5 5 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21
TIME (HOURS)
22 23 24

F
i
-1 C
I
2 3
FIGURE B .6 : UPOLU SATURDAY LOADS 1988
Saturday 1611, 1213, 21/5, 3/9 .
j DATE I PEAK % OF
ANNUAL PEAK
DLF
Saturday 16/1 6800 92
(Saturday 1213 7160 97 67
Saturday 2115 6650 90 68
Saturday 319 6950 94 70
4 5 6 7
8
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23
TIME (HOURS)
1
24
I
1

.
/
---~-- ~~---r'--r'-~
FIGURE . .~w~~" n~-~° ~~, ~°" UU~~~~ ~~o~~~ SUNDAY ~~~~~~~ LOADS 1988 "= .°~^
! /
Sunday 1711,1313,22/5,4/9 .
DATE PEAK Sb OF DLF
ANNUALPEAK
Sunday lWl 500 73 68
Sunday 1313 950 83 66
Sunday 205 640 83
1
67
1 Sunday 4/9 500 80 68
2 3 4 5 6 7 8' 9 10 11 12 13 14 15 16 17 18 19 20 21 22
TIME (HOURS)
2Z' 24
)

o
~
.
L J~
m
~ A 5
^ UU
~~" ~~"~~~
FIGUR . .*w~~ . "~-~~^~ E . LOAD
Sunday
(load factor 0 .68)
(peak 5650)
LOAD DURATION
January1988
~~UU~~~~~ ° CURVES
Average weekday e"n&g peak
(bad factor M)
(peak 6530)
r----r--r---~- --r---r--r--~---~
D 0 .25 0 .5 0 .75 l
UPIT time
.

~
.
|
c:~
!Li
.~r _
~
~ ~
0 .5
~~E
-~-
-_
04 -
2 . 2
_ 1
C . 1 -1
.
FIGURE
~~~^ ~°^~ . UU~~U ~°" ~^~~~° KU LOAD ~~UU~~~~~ DURATION~
CURVES
S unday
(ioad factor 0.67)
(peak load 6150)
March 19W
Average weekday evening peak
(load factor 0 .73)
(peak load 6890)
0.25 0 .5 0 .75 1
UNIT Unne

Li!
U . -t --1,
I
FIGURE B .10 : UPOLU LOAD DURATION CURVES
Saturday
(load factor 0.68)
(peak load 6880)
May 1988
Sunday
(load factor 0 .67)
(peak load 6140)
Average weekday evening peak
(load factor 0.75)
(peak load 7210)
I I I I I I I I I I I I I I I I I I I 1 1 1
C : 0 .25 0 .5 0 .75 1
UNIT TIME

4
r~
I c~
1 Saturday
(load factor 0 .67)
•C (peak load 6030)
C .a
I
-+
i
FIGURE B .1 UPOLU LOAD DURATION CURVES
AugusUSept.1988
Sunday
(load factor 0 .65)
(peak load 5910)
0 .25 0 .5
Average weekday evening peak
(load factor 0 .72)
(peak load 7169)
UNIT TIME
I I I I
0.75 I

1 6
FIGURE B.12 : SAVAII WEEKDAY LOADS
FOUR DAYS IN SEPTEMBER 1989
Loads normalised to daily peak
12
HOURS
18 24

APPENDIX C
RECONSTRUCTION OF
EXISTING GENERATING PLANT

C .1 GENERAL
2
C /1
APPENDIX C
RECONSTRUCTION OF EXISTING GENERATING PLANT
This report on existing generating plant was prepared in March 1991 and reflects the
condition of plant at that time .
The condition of generating plant on both Upolu and Savai'i at March 1991 was very poor .
Approximately 5MW of diesel plant in Upolu and Savaii was written off by EPC during 1990-91 .
Three of the five hydro electric plants were out of service for most of 1990, while the output
of the fourth was limited by mechanical problems .
Two recent studies' 2 highlighted deficiencies In EPC maintenance of plant and made a
number of recommendations to overcome these deficiencies. Had these recommendations
been acted upon the major breakdowns which have occurred since these studies were carried
out may have been averted .
The situation with regard to generating plant in Upolu and Savai'i at present is indicated in
Tables C1, C2, C3, C4 and C5 attached . The Tables include recommendations regarding
action required for rehabilitation and estimates of costs . These Tables have been discussed
In detail with the General Manager of the EPC . The cost estimates in these tables are
preliminary, based on January 1991 datum, and exclude physical and price contingencies .
The estimates include essential works necessary to return the plant to service and desirable
works considered necessary to restore the plant to good operating condition .
C .2 TANUGAMANONO POWER STATION
At present there are eight EPC owned diesel generators at Tanugamanono Power Station,
with total nameplate capacity of 12,650 kW. Three of these generators, comprising 4,472 kW,
have recently been written off by EPC .
C3. HYDRO PLANT
C3.1 General
At March 1991 there were five run-of-river hydro plants on Upolu . Four of these plants are
located within 7 km of Apia, namely, Fale-ole-Fee, Alaoa, Fuluasou and Samasoni . The fifth
plant, Lalomauga (or Sauniatu) is located some 40 km to the east of Apia . The Fale-ole-Fee
' Kennedy & Donkin Power Systems, EEC South Pacific Regional Energy Programme, Western Samoa Energy
Conservation Project, June 1989 .
Merz & McLellan, Asset Revaluation & Tariff Study for EPC, September 1990 .

C3 .2 Fale-ole-Fee
3
C /2
and Fuluasou plants have been out of service for a considerable time, and the Alaoa and
Lalomauga plants have operated at reduced output for most of 1990-91 . Only the Samasoni
plant is capable of operating at its full capacity . The various plants and required
reconstruction works are described below and summarised in Tables C4, C5 and C6 .
The Fale-ole-Fee Scheme comprises two stream bed intakes (the Vaivase and Fale-ole-Fee)
which divert water via their own headrace pipelines into a concrete headpond . A 3462 m long
penstock of 670mm nominal diameter conveys water from the headpond to a power station
at Alaoa. The scheme develops a gross static head of 332m through a single Pelton turbine
producing 1640kW .
Since its commissioning in 1982, the scheme has produced on average 5.0 GWh/year of
energy (for years 1983-1989 inclusive) . The scheme has not operated since May 1990 . The
single turbo-generator was severely damaged when shut down devices failed to operate
following loss of load due to a 22kV feeder fault . The turbine shaft has been bent, turbine
casing damaged, generator exciter casing broken, the generator foundations damaged, and
switchgear inundated by water . Apparently the roof of the power station was removed by a
high pressure water jet from the turbine, but has now been reinstated . Apart from the latter
work, it appears that little action has been taken to rehabilitate the plant .
While Fale ole Fee Is out of service, the cost of alternative diesel generation is estimated to
be US$465,000/year, based on an economic price of diesel fuel of US$0 .2411itre3 , and it is
recommended that urgent action be taken to restore the turbo generator .
The access road to the Fale-ole-Fee intake has been cut by a landslip, and a section of the
headrace pipeline has been washed away . These works should also be carried out before
the scheme is returned to service . Various other reconstruction works shown in Table C2 are
also recommended to restore the scheme .
C3.3 Lalomauga/Saunlatu
The scheme comprises two intakes on the east and west branches of the Falefa River, with
separate headrace pipelines leading to a polyethylene lined concrete headpond . From the
headpond, a headrace pipe, a 339m long tunnel and 720m long steel penstock convey the
water to a power station at Lalomauga, developing a gross static head of 125m .
The power station contains two horizontal-shaft Francis turbines, each generating 1760kW .
This station has experienced continuing problems with overheating of main bearings since
commissioning . No . 2 machine was out of service in 1990 due to a bearing failure . Both
Based on Exchange Rate WS $2 .33 = US $ 1 .00

C3 .5 Alaoa
C /3
machines are operating with derated output . It has been reported that a major contributor to
bearing difficulties has been the use of an incorrect grade of lubricating oil .
The scheme was commissioned in 1985 and has produced 10 .4 GWh/yr on average over the
period 1986-1989. For the 10 months to October 1990, the scheme has contributed only 5 .4
GWh, and the reduction in output represents a significant cost to EPC in terms of alternative
diesel generation .
EPC also advised that there appears to be severe erosion of metal in the turbine casings and
some erosion of the runners. In view of the extent of these problems, a turbine specialist will
be required to examine the turbines and make recommendations for remedial works .
The overvelocity valve at the head of the penstock has never been installed, and this work
should be carried out as a matter of urgency. Various other works are also recommended
as shown in Table No C3, including repair of the main inlet valves in the power station .
C3 .4 Samasoni
The Samasoni Hydro Scheme comprises a weir and intake which diverts water from the
Vaisigano River directly into a headpond, together with a 3600m long penstock leading to the
power station located 3 km from the centre of Apia The intake is located downstream of the
Alaoa and Fale-ole-Fee power stations . The power station houses two horizontal shaft Turgo
impulse turbines, each developing 900kW under a net head of 86m . The maximum output
of the station is 1550kW . The scheme was completed in 1982, and has produced an average
of 6.0 GWh/yr of energy over the period 1983-1989 .
Samasoni is the only hydroelectric scheme in full operation . However the penstock requires
maintenance and painting, valves should be overhauled and there is a continual problem with
the stator windings which should be investigated and rectified . An electric sump pump is
missing from the power station, and the backup jet pump operates continuously . This results
in the waste of water from the penstock and a consequent loss of hydro energy .
The Alaoa scheme comprises two intakes on the middle branches of the Vaisigano River, with
separate headrace channels, 2700m and 250m long, leading to a concrete lined headpond .
A steel penstock conveys water from the headpond to a power station which houses a single
Turgo impulse turbine and generator producing 1000kW under a net head of 136m .
The scheme was completed in 1957, and has produced 4 .0 GWh/year of energy on average
over the period 1980-89 .

C /4
The eastern intake is the main source of water supply to the scheme . The 2700 m long
eastern headrace traverses several sections of very steep, unstable ground . Landslips are
commonplace and the headrace is frequently out of service . A major slip in mid-1990 resulted
in a repair cost of US$330,000 . A slip also occurred during the site visit in December 1990,
which resulted in the loss of a 20m long section of headrace . While continual maintenance
will be necessary throughout the life of the project some drainage and strengthening works
should be carried out along the headrace to reduce the frequency of small slips and outage
of the headrace. However, it would not be practicable to eliminate all slips along the
headrace route .
Other works required to rehabilitate the Alaoa scheme include an overhaul of the switchboard
in the power station and cleaning out of the headpond. The latter comprises a concrete lined
earthen basin, without any means of vehicular access . A suitable means of cleaning out the
pond by dredging, pump or air lift should be devised . This apparatus should also be suitable
for cleaning out other headponds, without the need for dewatering .
C3 .6 Fuluasou
The Fuluasou Scheme, which was commissioned In 1951, consists of a concrete weir on the
Fuluasou River, and a steel penstock, approximately 2 .5 km long which conveys water to a
power station at Tuanaimoto . Originally, a second hand Turgo turbine and 230 kW generator
was installed in the power station . In 1985, a new Crossflow type turbine and generator of
370 kW capacity were installed In a new building adjacent to the old power station, and the
penstock was extended . The scheme develops a gross head of about 45m, and between
1981 and 1986 its average output was 0 .8 GWh/year .
The Fuluasou scheme has been out of service since May 1988, as a result of penstock
rupture . This has been a recurring problem, and numerous repairs have been carried out on
the penstock. The present condition of the penstock is very poor, it has been damaged by
trees which have fallen across it, the penstock is broken in several locations, it is heavily pitted
and corroded and several sections adjacent to the river are missing . The weir and intake gate
operating mechanism have been damaged by logs . The pond formed by the weir is heavily
silted up and contains numerous logs.
The penstock is severely damaged, and will require either major repairs, replacement with a
new steel pipeline, or lining with a polyethylene pipe which can be pulled through the old
penstock in long sections . (The old penstock could be retained as a protective casing to the
polyethylene liner.) The concrete deck and parapet of the weir would require repairs, and the
gates, screens and gate chamber should be overhauled .
In view of the cost of repair or reconstruction, and the relatively small amount of usable energy
available (particularly following commissioning of Afulilo in 1992), rehabilitation of this scheme
does not appear to be warranted . This view is confirmed by the least cost development
analysis, see Section 5.

C /5
TABLE C .6 : SUMMARY OF REHABILITATION COSTS (US$)
(Hydro Electric Plant Only)
Year 1991 1992
Supply and Installation 599 1398
Duty 20% CIF 108 252
Engineering 105 105
Contingencies 122 263
Total 933 2017
Foreign Costs 873 1877
Local Costs 60 140

TABLE C 1 : TANUGAMANONO DIESEL STATION AS AT MARCH 1991
UNIT NO . NAMEPLATE/ 1ST YEAR ACTION ESTIMATED
& MAKE RATED IN SERVICE REQUIRED TO COST COMMENTS RECOMMENDATION
kW REHABILITATE US$
No . 4 MAN 1672/1200 1966 This m/c has badly scored journals on We agree m/c should be written off and
crankshaft and EPC have written it off used as spares for No 5 .
No. 5 MAN 1672/1200 1966
Recent top overhaul
No ti MAN 1456/1000 1973 Top overhaul recently carried out .
Recommend this m/c be written off
when next major work is required to be
carried out
Recommend this mic be written off
when next major work is required to be
carried out
No 7 1800/1200 1979 M/C has broken crankcase and EPC We agree that m/c should be written off
Niigata have written it off and used as spares for No . 8
No 8 1800/1200 1979 Due for top overhaul Top overhaul being carried out
Nugata
No 9 2250/2000 1984 Overhaul by HSE recently completed .
M irrlees
No 10 1000/800 1988 Replace control panel, HSE nearing completion of
Mirrlees/ rectify cooling major overhaul
Blackstone problems .
No 11 1000/800 1988 Piston seizure, big end damage
Mirrlees/ and broken valve cages .
Blackstone Written off .
I
Engineering
Total

HYDRO
PLANT
INSTALLED
CAPACITY
kW
1ST YEAR
IN SERVICE
TABLE C2 : HYDRO PLANT AS AT MARCH 1991
ACTION REQUIRED
TO REHABILITATE
ESTIMATED
COST
US$
COMMENTS RECOMMENDATION
FALE OLE 1x1600 1982 Completely replace turbine, 1,300,000 Damage caused by protective devices not The loss of hydro energy from this plant
FEE generator & switchboard in power operating following fault on feeder demands that urgent action be taken to
station . reinstate .
Modifications to overvelocity valve 10,000 This work outstanding for considerable
time .
Check & make repairs to penstock 180,000 Penstock requires checking following
joints & paint . damage by trees .
Reform road to intakes . Repair 25,000 Access road cut by landslip . Section of
intakes and headrace pipeline,
reinstate and modify screen at
headpond . Clean out headpond
headrace pipe washed away .
Complete overhaul Fale-ole 100,000 Several functions of the supervisory If unable to achieve full function of
Fee/Samasoni supervisory system, system appear to be inoperative. system, it should be replaced either with
replace electronics as necessary . radio link or carrier similar to
Lalomauga
Engineering 161,500
Total 1,776,500
SAMASONI 2x900 1982 Penstock maintenance incl painting . 100,000
Overhaul main inlet valves, and
overflow valve . Clean headpond .
50,000
General maintenance to electrical 10,000
Reinstall electric sump pump . 2,500 The turbine floor is below ground level,
so seepage occurs . Backup jet pump
operates continuously, resulting in loss
of hydro energy
Identify fault in stator windings and
rectify
Engineering 17,450
Total 191,950
12,000 Stator windings frequently burn out
Reinstall sump pump as soon as possible

I
HYDRO
PLANT
1ST YEAR
IN SERVICE
TABLE C 3 : HYDRO PLANT AS AT MARCH 1991
ACTION REQUIRED
TO REHABILITATE
ESTIMATED
COST
US$
COMMENTS RECOMMENDATION
LALOMAUGA 2x1750 1985 Build up and machine generator 18,000 Carry out repair to flange and return No
/SAUNIATU coupling flange 2 m/c to service as soon as possible .
Check electrical control panels and 10,000 A number of panels are dirty and some
supervisory controls . Adjust,
repair, clean as necessary .
instruments appear to be defective
Check and repair main inlet valves 10,000 Main inlet valves are not operating .
Valve pit half filled with water
Repair valves as soon as possible .
Install overvelocity valve on 12,500 This work has been outstanding since the Install valve as matter of urgency .
penstock construction of the Sauniatu scheme .
The absence of this valve poses a threat
to the station
Check lubricating oil system and
repair leak etc .
5,000
Check and make necessary repairs 20,000 Penstock has been damaged by falling
to penstock including replacement
of damaged sections
trees .
Check and repair lining of head 30,000 Lining of headpond has small tears etc
pond, check gate on surge and repairs should be carried out to
chamber, repair trash screens prevent further damage
Check tunnel . Remove grit and 5,000 The tunnel has not been checked since
debris . commissioning
Carry out mechanical inspection of 10,000 There is reported damage to turbine Recommend that extent of damage be
machines to determine extent of
cavitation and erosion of turbine
casing and runners
casings and runners due to metal erosion investigated and remedial action taken
Engage services of turbine 15,000 Temporary cooling system has been This work should be carried out as soon
specialist to overcome problems of installed . This should be made as possible to ensure continuing
metal erosion and bearing
overheating .
permanent . operation of station .
Engineering 13,550
Total 149,050

HYDRO
PLANT
INSTALLED
CAPACITY
kW
1ST YEAR
IN SERVICE
TABLE C4 : HYDRO PLANT AS AT MARCH 1991
ACTION REQUIRED
TO REHABILITATE
ESTIMATED
COST
US$
COMMENTS RECOMMENDATION
ALAOA 1x1000 1957 Improvements to critical sections of 50,000 Reconstruction aimed at minimising Carry out rehabilitation works prior to
east headrace frequency and severity of future damage
to headrace .
1992 wet season .
Overhaul switchboard . Carry out
general maintenance of electrical
items .
10,000
Clean out headpond . 12,000
Engineering 17,200 Allowance includes $10,000 to design
Total 89,200 apparatus for cleaning out ponds .
FULUASOU 1x370 1985 Reconstruct penstock by lining or 720,000 Penstock corroded and damaged by On basis of economic analysis,
1x230 1951 replace with steel pipe . falling trees . recommend write off and investigate
f
Repairs to dam, gates, and intake .
Clean out pond .
Check electric switchboard &
machines . 10,000
Engineering 76,000
Total 836,000
30,000 Dam damaged by trees .
relocation of turbo-generator .

TABLE CS : SALELOLOGA DIESEL POWER STATION AS AT MARCH 1991
UNIT NO . CAPACITY 1ST YEAR ESTIMATED
& MAKE
IN SERVICE COST
COMMENTS RECOMMENDATION
kWe
US$
100 1978 Alternator on No . I engine block Write off.
Yanmar rusted . Switchgear rain soaked .
Spalling of concrete block .
300 1976 Switchgear and alternator rain Write off,
Cummins soaked . History of Unreliability .
Ex Asau .
100 1978 Alternator for No .l . Engine has Write off
Yanmar many oil leaks . Switchgear rain
soaked .
380 1989 50000 Control panel wet during cyclone . Major overhaul .
Cummins (Recon) Was operational, but subsequently
damaged beyond repair .
60 1978 Control panel water damaged . Write off
Yanmar Many oil leaks on part load .
60 1978 Control panel water damaged . Write off
Yanmar Many oil leaks on part load .
273 1954 2200 volt outdated switchgear rain Write off
Mirrlees K8 soaked . Engine in poor mechanical
condition . Cooling tower very
rusted .
Detroit 412 ? 20000 Ex Asau . Generator will not excite . Under
repairs in American Samoa .

APPENDIX D
REVIEW OF TECHNICAL MANPOWER

D .1 Organisation Chart
The attached chart shows the organisation of the technical work force . Refer to Table D .1 for
a summary of staff numbers .
D .2 Level of Staffing
D /1
APPENDIX D
REVIEW OF TECHNICAL MANPOWER
Base tradesman numbers are considered adequate for the work required to be carried out,
but there is a severe shortage of skilled supervisory tradesmen and engineers .
Although tradesman numbers are adequate the level of skills of the average tradesman in
Samoa is less than the equivalent in more developed countries . This places a much greater
emphasis on technical expertise yet this is an area of weakness in the EPC .
Training is necessary, but experience in Samoa indicates that training is a long term solution
with not very marked immediate result .
For generation work, the two main supervisory posts have been in the past the Deputy
General Manager Engineering and Manager Generation . Both are now vacant with no evident
candidates.
Given the relatively poor quality of trades staff and first line supervisors, unless high calibre
appointments are made to these two posts, EPC's operation and maintenance will not be
significantly improved .
Because of Government and Board's recent emphasis on Samoanisation the EPC has not
been able to recruit overseas staff to substitute for shortages of supervisory and skilled labour
in Samoa. It appears that this policy may also apply to externally funded expatriates .
D .3 Policy of Samoanlsatlon
We are advised that the Government and the EPC Board wish to immediately localise all
positions within the EPC and intend to fill vacant positions with locals even it they are not
suitably experienced and qualified for the position . We note that there are no expatriates
currently employed in EPC . There are some indications of flexibility in that EPC's General
Manager has stated that he intends to advertise the vacant post of Deputy General Manager
Engineering both locally and overseas .

D .4 Recommendations
D 12
We believe the lack of skilled staffing imposed by the strict emphasis on Samoanisation over
recent years is a major contributing factor to the present condition of EPC plant and
equipment . The cost to the economy of Western Samoa of the resultant frequent electricity
interruptions has been immense . On the other hand, we note that expatriate labour is
expensive, often insensitive and not uniformly satisfactory .
A way must be found to satisfy political and social aspirations, yet at the same time avoid the
deterioration of EPC's assets and decline in operational efficiency .
TABLE D.1
EPC STAFF LEVELS BY CLASSIFICATION
Classification 1981 1982 1963 1984 1985 1986 1987 1988 1989 1990
Professional 5 4 6 7 8 8 12 10 10 10
Technical 85 73 60 44 54 55 53 52 57 56
Semi Skilled 76 63 70 69 63 62 62 66 76 74
Unskilled 64 51 44 44 61 63 59 44 63 79
Clerical 64 50 60 45 53 53 48 45 43 39
Total
Competent technical staff are urgently required to plan, schedule and supervise maintenance
and capital works. Furthermore, large contracts for supply of services or equipment should
always be preceded with a detailed contract . EPC has committed large sums of money for
the supply of services and equipment without adequate specifications . This means no one
is sure what is the obligation of the supplier, the supplier is not sure what the EPC wants, and
price is not minimized by competition .
If technically competent and experienced appointees are not available from within Samoa it
is recommended that the EPC should as a matter of urgency :
1 . Engage Consultants
294 241 240 220 229 231 234 217 231 258
Plan, design, specify, and supervise all capital works and all large maintenance works
using ethical Samoan engineering consulting firms .

D /3
In view of local concerns it should be a condition of appointment of such firms that
neither the firm nor the principal is engaged in contracting and that they have no
association with contractors or suppliers . In all cases consultants should be selected
on merit using the following criteria :
Technical competence and experience
Availability of resources
Ability to manage the project
Professional integrity and independence
It is believed that it is in the EPC's best interest to make their preliminary selection of
consultants before considering financial aspects . It should be noted that this is the
method used and required by the International Banks, and the European Community .
It is recommended that the Corporation include a sum of at least US$100,000 in their
annual budget for small consulting tasks and allow the General Manager to appoint
who he considers to be the most suitable consultant for a particular task .
2. Contract Operation and Maintenance of Tanugamanono Power Station
The EPC is currently spending some US$2,770,000 on a large comparatively highly
stressed diesel generator, and it is recommended that another such engine be
ordered . The type of maintenance and care which has been given to the other diesel
engines in the power station over the past few years will result in rapid disaster for the
new engines .
In view of the constraints of Samoanisation it is proposed that the operation and
maintenance of Tanugamanono be contracted to a firm experienced in diesel power
station operation . This is not an unusual situation and there should be active
competition in tendering for a contract . A careful performance specification of the
works required would be needed . It is proposed that the operation and maintenance
of the station would be for a fixed fee as this would be the simplest approach .
Alternatively it would be possible to lease the power station to an operator, and to pay
him for units produced and capacity provided . In both cases adequate penalty and
cancellation clauses would be required in the contract .
3 . Operation and Maintenance of Afulllo Hydro
The US$25 million Afulilo Storage Hydro Electric scheme is currently under
construction . Its importance both to the Samoan economy, and to the electrical
system require that it should receive more care than has been received by Fale ole
Fee Hydro, or Sauniatu Hydro, or indeed any of the existing hydro electric schemes .

4 . Privatization
D /4
As with Tanugamanono, it is recommended that operation and maintenance of the
Afulilo Hydro Project should be contracted out on a fixed annual fee basis .
EPC's recent performance as a statutory corporation has been poor . In this respect
the EPC has not been dissimilar to a number of other Western Samoan statutory
corporations . A case could be made that the poor performance of these corporations
is related to their organizational structure .
It is suggested that a property regulated private company would operate an electricity
utility in a manner which would be more satisfactory to the electricity customers, and
at the same time be less of a financial burden on the Government .
Within the Pacific Islands it may be observed that the most efficient electricity utilities
are operated by private companies .
It would be possible either to lease or sell the Government ownership of the
Corporation. The preparation of a tight regulatory contract with a private company
would not be a difficult proposition .

APPENDIX E
FINANCIAL ANALYSIS

FINANCIAL ANALYSIS
Summary of Contents
Table 1 Summary of EPC's Financial Past Performance
Table 2 Inflation Rate Assumtions
Table 3 Forecasts of EPC's Sales and Generation 1988 to 2001
Table 4 Diesel Fuel Price Forecasts and Forecasts of EPC Fuel Costs
and Operating and Maintenance Costs
Table 5 Summary of Loan Balances (Run A)
Table 6 Summary of New Loans/Drawdowns (Run A)
Table 7 Summary of Loan Repayments (Run A)
Table 8 Summary of Loan Interest Payments (Run A)
Run A Summary of Key Financial Indicators and Financial
Statements
Run B Summary of Key Financial Indicators and Financial
Statements
Run C Summary of Key Financial Indicators and Fnancial
Statements
Run D Summary of Key Financial Indicators and Financial
Statements
APPENDIX E

WESTERN SAMOA : ELECTRICITY POWER CORPORATION FINANCIAL PERFORMANCE Page 1
WS$ '000
CALENDAR YEAR ENDING :- 1980 1981 1983 1985 1987 1988 1989 1990
Profit and Loss Account
Total Generation 31 .7 30 .6 32 .0 35 .9 40 .2 43 .0 44 .0 42 .0
System Losses % 30 .5% 21 .4% 22 .6% 20 .5% 16 .4% 13 .9% 13 .6% 12 .1
Total Energy Sales 24 .3 25 .2 26 .1 29 .8 33 .6 37 .0 38 .0 36 .9
Average Tariff/kWh (WS sene) 19 .0 23 .0 28 .1 28 .1 28 .1 28 .1 28 .1 31 .0
Increase in Average Tariff % - 21 .1% 22 .0% - - - - 11 .1%
Total Revenue 3906 .6 4924 .0 6653 .7 8152 .8 9318 .0 10162 .2 10914 .9 11993 .2
Total Operating Expenses 4144 .4 4894 .8 7137 .7 7404 .9 8537 .8 9202 .7 11625 .8 15309 .1
Net Operating Income (237 .8) 29 .2 (484 .0) 747 .9 780 .2 959 .5 (710 .9) (3315 .9)
Interest Expense 61 .4 362 .9 578 .0 1159 .8 824 .5 781 .0 848 .2 842 .5
Net Income (299 .2) (333 .7) (1062 .0) (411 .9) (44 .3) 178 .5 (1559 .2) (4158 .4)
Less Extraordinary Items 367 .6 611 .1 2011 .7 2410 .1 872 .4 (340 .0) 569 .6 1069 .9
Net Income (Loss) (666 .8) (944 .8) (3073 .7) (2822 .0) (916 .7) 518 .5 (2128 .8) (5228 .3)
Rate of Return % (2 .0%) 0 .2% 1 .6% 3 .0% 2 .3% 1 .4% (0 .9%) (3 .5%)
:y
b
r1
d
x

WESTERN SAMOA : ELECTRICITY POWER CORPORATION FINANCIAL PERFORMANCE Page 2
WS$ , 000
CALENDAR YEAR ENDING :- 1980 1981 1983 1985 1987 1988 1989 1990
SOURCE AND APPLICATION OF FUNDS :
Sources of Funds
Internal Cash Generation 740 .2 1127 .6 1014 .8 5593 .2 4546 .1 4920 .5 3993 .2 1392 .8
Government Equity 559 .9 2085 .5 6725 .7 5638 .3 1134 .9 10937 .3 5039 .9 1268 .3
Borrowings 2307 .9 2847 .8 1757 .9 1221 .9 978 .5 1242 .8 424 .4 5249 .9
Other (Including Working Capital) 0 .0 2 .5 1151 .4 153 .5 569 .8 6 .4 20 .0 19 .4
------- ------- ------- ------- ------- ------- ------- -------
Total 3608 .0 6063 .4 10649 .8 10179 .5 7229 .5 17107 .0 9477 .6 7930 .4
Application of Funds
Capital Expenditure 3328 .9 5051 .7 8356 .2 7420 .5 5373 .1 3720 .1 5312 .2 5175 .6
Debt Service : - Principal 0 .0 0 .0 1411 .5 811 .3 815 .4 11134 .2 1098 .0 1199 .1
- Interest 0 .0 34 .6 80 .3 1159 .9 967 .3 766 .9 844 .1 806 .7
------- ------- ------- ------- ------- ------- ------- -------
- Total 0 .0 34 .6 1491 .8 1971 .2 1782 .7 11901 .0 1942 .1 2005 .8
Other (Including Working Capital) 279 .2 977 .1 801 .8 787 .8 73 .7 1485 .8 2223 .3 752 .2
------- ------- ------- ------- ------- ------- ------- -------
Total 3608 .1 6063 .4 10649 .8 10179 .5 7229 .5 17107 .0 9477 .6 7930 .4
Debt Service Ratio NA 32 .6 0 .7 1 .3 0 .6 0 .4 1 .5 0 .2
Self Financing Ratio (Annual) 0 .16 0 .10 0 .06 0 .15 (0 .62) (1 .93) (0 .24) (0 .58)

WESTERN SAMOA : ELECTRICITY POWER CORPORATION FINANCIAL PERFORMANCE Page 3
WS$'000
CALENDAR YEAR ENDING :- 1980 1981 1983 1985 1987 1988 1989 1990
Balance Sheet
Fixed Assets
- Net Fixed Assets 12202 .1 14434 .6 26064 .4 58986 .6 68495 .5 72160 .8 94425 .9 92630 .5
- Work-In-Progress 4405 .6 8661 .9 8499 .2 2085 .2 4392 .5 5387 .0 8621 .5 12783 .4
------- ------- ------- ------- ------- ------- ------- -------
Total 16607 .7 23096 .5 34563 .6 61071 .8 72888 .0 77547 .8 103047 .4 105413 .8
Investment/Other 100 .0 100 .0 0 .0 550 .2 475 .3 381 .1 301 .0 178 .4
Current Assets 2272 .2 3478 .1 5327 .7 4435 .4 5569 .4 5467 .1 7971 .4 9589 .5
------- ------- ------- ------- ------- ------- ------- -------
Total Assets 18979 .9 26674 .6 39891 .3 66058 .4 78932 .7 83396 .1 111319 .8 115181 .7
Equity and Liabilities
- Equity 11038 .3 14717 .2 21584 .3 40530 .4 50155 .1 66363 .6 94061 .1 91925 .3
- Long Term Debt 6854 .7 10237 .4 14228 .5 22247 .4 25316 .8 15238 .5 15053 .0 20125 .6
- Current Liabilities 1086 .9 1720 .0 4078 .5 3280 .6 3460 .8 1794 .0 2205 .6 3130 .8
------- ------- ------- ------- ------- -------
Total 18979 .9 26674 .6 39891 .3 66058 .4 78932 .8 83396 .1 111319 ------- .8 115181 ------- .7
Debt/Equity Ratio 38 .3% 41 .0% 42 .1% 39 .7% 33 .5% 18 .7% 16 .9% 18 .0%
Current Ratio 2 .1 2 .0 1 .3 1 .4 1 .6 3 .0 3 .6 3 .1

I
= xxasssaxssxxx===xasxx=s saxsaesasssaexasxxe :=xxxxssxasss :sxassx:xssssx :=ss-xx :=== .xs .===xxs :== .=-_ :
ECONOMIC PARAMETERS ELECTRIC POWER CORPORATION, WESTERN SAMOA FINANCIAL PROJECTIONS, 1991/2-200011
------------------- 30 June
1991
30 June
1991/92
30 June
1992/93
30 June
1993/94
30 June
1994/95
30 June
1995/96
30 June
1996/97
30 June
1997/98
30 June 30 June
1998199 1999/2000
Domestic Inflation 10 .0% 8.5% 6 .5% 6.0% 6 .0% 5 .5% 5 .0% 5.0% 5.0% 5.0% 5.0%
International Inflation 4.9% 4 .9% 4.9% 4.3% 3 .7% 3 .7% 3.7% 3.7% 3.7% 3.7% 3.7%
Asset Retialuation Rate 5.0% 5.0% 5 .0% 5.0% 4 .3% 4 .2% 4.0% 4.0% 4.0% 4.0% 4 .0%
WSS / US$ Exchange Rate 0 .4292 0 .4292 0.4292 0 .4292 0.4292 0.4292 0 .4292 0 .4292 0 .4292 0.4292 0 .4292
Escalation Factors:
- Domestic 1 .05 1 .14 1 .21 1 .29 1,38 1 .44 1 .51 1 .59 1 .66 1 .75 1 .84
- International 1 .02 1 .07 1 .13 1 .18 1 .22 1 .26 1 .31 1 .36 1 .41 1 .46 1 .52
- Asset Rmmluation 1 .10 1 .14 1 .22 1 .28 1 .33 1 .39 1 .44 1 .50 1 .56 1 .62 1 .69
- Exchange Rate Differential 1 .00 1 .00 1 .00 1 .00 1 .00 1 .00 1 .00 1 .00 1 .00 1 .00 1 .00
30 June
2000/01

I s
ELECTRIC POWER CORPORATION, WESTERN SAMOA FINANCIAL PROJECTIONS . 1991/2-200011
SALES FORECAST (GWh)
--------------
SYSTEM 1988 1989 1990 1991
6 Mths
1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997/98 1998199 1999,2000 2000/01
Upolu 33.4 36.1 34 .1 19 .2 40.5 43.0 46.1 48 .4 50 .9 53 .4 56 .1 58.9 61 .8 61 .8
Savaii 1 .9 2.0 1 .7 1 .0 2.0 2.4 2 .5 2.6 2 .7 2.9 3.0 3 .2 3 .3 3 .5
Total
GENERATION FORECAST (GWh)
35 .3 38.1 35.8 20 .2 42.5 45.4 48.6 51 .0 53 .6 56 .3 59 .1 620 65 .1 65.3
-------------------
SYSTEM 1988 1989 1990 1991 1991192 1997!43 1993/94 1994185 1995/96 1996197 1997/98 1998/99 1999/2000 2000/01
Upolu 41 .3 41 .3 39.7 22 .9 47.4 50.1 52.4 54 .9 57 .4 60.1 62.9 65.8 68 .9 72 .2
Savaii 2 .3 2 .4 2 .3 1 .0 27 2.9 3 .0 3.2 3.3 3.5 3.7 3.8 4 .0 4 .2
Total
43 .6 43,7 42.0 23 .9 50,1 52.9 55.4 58 .0 60 .7 63 .5 66.5 69.6 72 .9 76 .5
GENERATION MIX FORECAST (GWh)
------------------------
1988 1989 1990 1991 1991/92 1992/93 1993194 1994195 1995/96 1996/97 1997/98 1998/99 1999/2000 2000101
Hydro - Run-of-River 24 .0 23 .5 17.5 13 .2 20 .0 28.8 32.0 32 .3 32 .8 33 .2 33.4 33.6 33.B 33 .9
- Afulilo 0 .0 0 .0 0 .0 0.0 0 .0 5 .3
------
15 .7 18.5 19.1 20.0 20.6 21 .0 21 .5 21 .8
------ ------ ------ ------ ------ ------
Total Hydro - 2.4 .0 23,5 17 .5 J 13 .2 20 .0 47 .7 50.8 51 .8 53.2 54 .0 54.6 55 .3 55 .7
Diesel - Upolu
- Savaii
17 .3 17,8 22.2
2 .3 2 .4 2 .3
------ ------ ------
9.7 27 .4 16.0 4 .7
1 .0 2 .7 2.9 3 .0
------ ------ ------ ------
4.0 5.6 6 .8 8 .9 11 .2 13.7 16 .6
3.2 3.3 3.5 3.7 3 .8 4.0 4.2
----- ------ ------ ------ ------ ------ ------
Total Diesel 19 .6 20 .2 24 .5 10 .7 30.1 18.9 7 .7 7.2 8.9 10.3 12.6 15.0 17.7 20.8
Total Generation 43 .6 43 .7 42 .0 23 .9 50.1 52.9 55 .4 55.0 60.7 63.5 66.5 69 .6 72.9 76.5
H
a
tr
r7
w

FUEL COSTS end O&M EXPENSES
------------------------
ELECTRIC POWER CORPORATION, WESTERN SAMOA FINANCIAL PROJECTIONS, 7991/2-2000/1
1991 1991)98 1992190 1993/94 1994/95 1995196 1996/97 1997196 1998/99 199912000 2000101
Fuel consumption (UlcWh) - Opolu 0.30 0.30 0.28 0.26 0.26 0.26 0.26 0 .26 0,26 0 .26 0.26
- Savaii 0.43 0.43 0.43 0.43 0.43 0 .43 0 .43 0 .43 0.43 0.43 0 .43
Diesel fast /rive (VYSSAtre) 0 .690 0.870 0.874 0.927 0.960 1 .034 1 .513 1 .199 1 .291 1 .391 1 .499
Generation fuel cost (WS$'000) 2968.8 8160 .5 4985,5 2314 .9 2399.1 2955.0 3632.9 4638.5 5854 .7 7318 .4 9152 .6
Lube oil cost (WS$ '000) 87.5 258 .0 164 .7 75.1 74,5 92 .5 109 .5 134 .7 163 .7 197 .0 237 .1
Total Diesel tuel & Lube 011 Cost ( WS$ '000) 3056.1 8418.5 5150.2 2390.1 2413.7 3047 .5 3742 .5 4773.2 6018 .4 7515 .4 9389.7
Opetalion d maintenance
denelat)on
Hydro 165.9 180.0 215.8 524 .7 897.1 946 .4 993 .8 1043 .4 1095.6 1150 .4 1207 .9
Diesel
- .- fixed Upolo 660.6 710,7 763 .3 539.4 571 .8 803 .2 633 .4 865 .0 698 .3 916 .5 962 .3
- fond : sm"11
vamb6e . Upolo
87.9
372.4
108,2
1002.3
113.1
880.5
149 .8
210 .9
156.8
145.8
187 .6
134.7
175.8
193.8
221 .7
253.1
232.8
345.5
244 .4
455 .0
256 .6
584 .0
vrtribls : Saueil 367.0 144 .4 161 .1 179.8 1426 158 .3 174 .7 192 .9 212.4 234 .0 257.9
- Hire Plant 2645.0 1282.0 0.0 0.0 0 .0 0.0 0.0 0 .0 0 .0 0.0 0.0
- TOTAL (WSf'000) 4308.8 3521 .6 1934.4 1604,6 1919.4 2010 .2 2173 .6 2376 .1 2584 .5 3000 3 3268 .8
DIESEL FUEL (LFO) PRICE FORECAST 1991 1991192 1992193 1993/94 1994/95 1995/96 1996197 1997/88 1998/99 1995,'2000 2000101
-----------------------------------
Crude oil prica/bbl - Real (US$) 23 .8 20 .0 20.0 20.4 20.8 21 .2 22 .3 23 .4 24 .6 25.8 27.1
Crude oll prioa/bbt- Nominal (USS) 24.3 21 .5 22.5 24 .0 25.4 26,8 29 .2 31 .8 34 .6 37.7 41 .1
LFO pnoe/bbt(USS) 31 .5 21 .9 29.3 31 .2 33.0 84 .9 38 .0 41 .4 45 .0 49.0 53 .4
LFO prioa/ltt(WSS1 0.464 0.409 0.430 0.457 0.483 0 .511 0.557 0.606 0 .660 0 .719 0,782
10er.transp.cost/Itr (WSS) 0.045 0.047 0.050 0.052 0.054 0.056 0.058 0.060 0 .062 0 .064 0.067
Duties 35% clf &Levies (WS$) 0.214 0.192 0 .201 0.214 0.226 0 .238 0 258 0.280 0.303 0 .329 0 .357
0natwre cos9llt (VYS#) 0.16? 0.182 0.194 0.205 0.217 0 .229 0.241 0.253 0 .268 0 .279 0 .293
LFO prioeAtr (WSS) 0.890 0,830 0,674 0.927 0.980 1 .034 1,113 1 .199 1 .291 1 .391 1 .499
c .t .¢ . . . .Z . .S .L= .-=C-L7 _S.-GSS3 : -1 .=..ZS-- •. . . .C-LS- .= ..L- .---Z •.. Z----
}

RUN (A) ELECTRIC POWER CORPORATION. WESTERN SAMOA FINANCIAL PROJECTIONS, 1991/2-2000(1 WS$' 000
LOAN BALANCES
31 Doc .
1989
31 Dec.
1990
30 June
1991
30 June
1991192
30 June
1997193
30 June
1993,194
30 June
1994/95
30 June
1995/96
30 June
1996/97
30 June
1997/98
30 June 30 June
199809 1999/2000
(%) (Years)
EIB - Seunwtu 2.00% 15 6868.7 7408.5 7408.5 6562.0 6064 .4 5556.6 5038.7 4509.8 3970.8 3420.9 2860 .1 2288 .4 1704.9
ADB - Pr,Afullo 9.50% 15 5200.0 4800.0 4800.0 4200.0 3800.0 3400 .0 3000.0 2600.0 2200 .0 1800.0 1400 .0 1000 .0 600.0
EIB - Afullo 7.00% 15 0.0 0 .0 3000.0 7000.0 8271 .0 77929 7314.9 6838.8 6356 .8 5W.7 5402 .7 4924 .6 4446.6
ADS - A!UAo 9.65% 25 2020.7 5444.8 8159.0 11159.0 15082.0 14629.5 14177.1 13724 .6 13272 .1 12819.6 12367 .1 11914 .7 11462 .2
IDA - AfuUo 9.65% 25 625.0 2450.8 4065.7 6065.7 8200.7 7872.7 7544.6 7216.6 6888.5 6560.5 6232 .4 5904 .4 5576 .4
ADB - Salelologs Diesel 9.65% 20 0.0 0 .0 1500.0 35M .0 3500 .0 3465.7 3397 .2 3328 .7 3260.1 3191 .6 3123 .1 3054 .6
IDA - Upolo Diesel 9.65% 25 0.0 0 .0 0 .0 5310.0 5310 .0 5310 .0 5194 .4 4963.1 4731 .9 4500.6 4269 .4 4038 .1 3806 .9
ADB - Hydro Rehabilitation Upolo 9.65% 25 0.0 0 .0 0.0 1500.0 3500 .0 3500.0 3500.0 3500.0 3500.0 3266.7 3033 .3 2800 .0 2566 .7
WSGov. -Advance 10 .00% 13 1100 .0 1000.0 1000.0 850.0 750 .0 650.0 550.0 450.0 350.0 250 .0 150 .0 50 .0 0 .0
New Diesel Plant - No . 13 9 .65% 15 0.0 0.0 0.0 0.0 5461 .7 5461 .7 5461 .7 5006 .6 4551 .4 4096 .3 3641 .2 3186 .0
New Diesel Plant - No.14 9.65% 15 0 .0 0 .0 0.0 0.0 0 .0 0.0 0.0 6193 .8 6193.6 6193 .6 5677.5 5161 .4
New Diesel Plant - No . 15 9 .65% 15 0.0 0.0 0.0 0 .0 0.0 0.0 0.0 0.0 0 .0 0.0 6993 .8 6993 .8
New Diesel Plant - No . 16 9 .65% 15 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0 .0 0 .0 0 .0 7095 .3
Salelologa Diesel - No .2 9 .65% 15 0.0 0.0 0.0 0 .0 2256.2 2256.2 2256.2 2162 .2 1974 .2 1186 .2 1598 .2 1410.1
Salelologa Diesel - No .3 9 .85% 15 0 .0 0.0 0.0 0 .0 0 .0 0.0 0.0 0 .0 2664 .2 2664 .2 2664 .2 2864 .2
WSNPF - Existing Loan 12 .00% 15 353 .0 251 .1 194 .1 133 .7 67.3 0 .0 0.0 0.0 0.0 0 .0 0.0 0 .0 0-0
WSNPF New Loan 12 .00% 15 0 .0 0.0 0.0 0.0 5500.0 5500.0 5500.0 5500.0 5500 .0 5500 .0 5500 .0 5500 .0 5500 .0
EPC BOND ISSUE 12.00% 5 0.0 0.0 0 .0 0 .0 0.0 0.0 0 .0 0 .0 0 .0 0.0 0 .0
BWS TERM LOAN(OD FACILITY 15.00% 0.0 5500 .0 2500.0 1000.0 0.0 0.0 0 .0 0.0 0.0 0 .0 0 .0
TOTAL 16167 .4 21355 .2 28627 .3 49780 .4 62545.4 66429,7 63003 .3 60416 .1 63463 .3 62642 .8 59147 .1 62118 .2 65229 .1
30 June
2000101

RUN (A) ELECTRIC POWER CORPORATION, WESTERN SAMOA FINANCIAL PROJECTIONS, 1991(2-2000(1 WS$' 000
NEW LOANS/DRAWDOWNS
30 June
1991
30 June
1991/92
30 June
1992193
30 June
1993/94
30 June
1994195
30 June
1995196
30 June
1996197
30 June
1997/98
30 June 30 June
1998199 1999i2000
EIS - Saunitu
ADD - PreAfullo
EIS - Afulio 3000 .0 4000 .0 1271 .0
ADB - AhAlo 2714 .2 3000 .0 3923 .0
IDA - Atullo 1614 .9 2000.0 2135.0
IDA - Salelologa Diesel 1500.0 2000.0
IDA - Upolo Diesel 5310 .0 0.0
ADS - Hydro Rehabilitation Upolo 1500 .0 2000 .0
WSOov. - Advance
New Diesel Plant - No.13
New Diesel Pfant - No. 14
New Diesel Pliant - No. 15
New Diesel Pint - No. 16
5461 .7
6193.6
6993 .8
7263.4
Salelologa Diesel - No.2
Salelologa Diesel - No.3 0 .0
2256 .2
2664.2
NPF New Loan
EPC BOND ISSUE
BWS TERM LOAN/OD FACILITY
TOTAL
0.0
0 .0
0 .0
7329 .1
0 .0
0 .0
5500.0
22810.0
5500.0
0.0
0.0
16829.0
0.0
0.0
7718.0
0.0
0.0
0.0
0 .0
0.0
0.0
0 .0
0 .0
6193.6
0 .0
0.0
2664 .2
0 .0
0 .0
0 .0
0 .0
0 .0
6993.8
0.0
0 .0
7283.4
30 June
2000,101

RUN (A) ELECTRIC POWER CORPORATION, WESTERN SAMOA FINANCIAL PROJECTIONS, 1991/2-2000/1 WS$' 000
31 Dec. 31 Dec . 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
LOAN REPAYMENTS
1989 1990 1991 1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997/98 1998/99 199912000 2000/01
==z=a==x=== .=____ ._ .====c=_= = x=== .=== =x= .====z= .======_=xaazzs===x=z .====_ ..====a=-====c= .===sxc .=c====_====cc ..===__ :
EIB - Saunlatu 469.6 478 .9 0 .0 848.5 497.6 507.8 517 .9 528 .8 539 .0 549.9 560 .8 571 .7 583 .4
ADB - Pr.Afuib 400.0 400 .0 0 .0 800.0 400.0 400.0 400.0 400.0 400.0 400.0 400 .0 400 .0 400.0
EIB - Afutio 0 .0 0 .0 0 .0 0 .0 0.0 478.1 478 .1 478 .1 478.1 478.1 478 .1 478.1 478 .1
ADB - Afutio 0 .0 0.0 0 .0 0 .0 0.0 452.5 452.5 452.5 452.5 452.5 452 .5 452.5 452.5
IDA - Afulio 0.0 0 .0 0 .0 0 .0 0.0 328.0 328.0 328.0 328.0 328.0 328 .0 328 .0 328.0
ADB - Salelologa Diesel 34 .3 68 .5 68.5 68.5 68 .5 68.5 68.5
IDA - Upolo Diesel 115 .6 231 .3 231 .3 231 .3 231 .3 231 .3 231 .3
ADB - Hydro Rehabilitation Upolo 233.3 233 .3 233.3 233.3
WSGov. - Adoence 35.0 100 .0 0 .0 150.0 100.0 100.0 100 .0 100.0 100.0 100.0 100 .0 100 .0 50.0
New Diesel Plant - No . 13 455.1 455.1 455 .1 455 .1 455.1
New Diesel Plant - No . 14
New Diesel Plant - No . 15
516.1 516.1
Salelologa Diesel - No.2
Salelologs Diesel - No.3
94 .0 188.0 188 .0 188 .0 188.0
NPF - Existing Loan
NPF - New Loan
88.8 101 .9 57.0 60.4 66.4 67.3 0.0 0.0 0 .0 0.0 0 .0 0 .0 0 .0
EPC BOND ISSUE 0 .0
BWS TERM LOAN/OD FACILITY 3000.0 1500.0 1000.0
TOTAL 993.4 1080 .8 57 .0 1656 .9 4064.1 3833.7 3426.4 2587.2 3146 .5 3484.8 3495 .7 4022 .7 3984 .4
RUN (A) ELECTRIC POWER CORPORATION, WESTERN SAMOA FINANCIAL PROJECTIONS, 199112-2000/1 WS$ 1 000
LOAN INTEREST PAYMENTS
30 June 30 June
1991/92 1992/93
30 June
1993/94
30 June
1994/95
30 June
1995/96
30 June
1996/97
30 June
1997/98
30 June
1998/99
30 June
1999/2000
EI B - Saunlatu 2 .00% 139.7 128.3 116.2 106 .0 95 .5 84.8 73.9 62 .8 51 .5 39.9
ADS - PreAfuilo 9 .50% 427.5 380.0 342.0 304 .0 266 .0 228.0 190.0 152 .0 114 .0 76.0
EIB - Afullo 7 .00% 0 .0 269.5 545.5 528.8 495.3 461 .8 428.4 394 .9 361 .5 328.0
ADS - Afulllo 9.65% 0.0 727.7 1411 .8 1389 .9 1346 .3 1302.6 1258.9 1215 .3 1171 .6 1127.9
IDA - Afutio 9 .65% 0 .0 395.7 759.7 743.9 712.2 680 .6 648.9 617 .3 585 .6 553.9
IDA - Salelologa Diesel 9 .65% 72.4 241 .3 337.8 336.1 331 .1 324 .5 317.9 311 .3 304 .7 298.1
IDA - Upolo Diesel 9.65% 256.2 512.4 512.4 506 .8 490 .1 467.8 445.5 423 .2 400 .8 378.5
ADB - Hydro Rehabilitation Upolo 9.65% 0.0 241 .3 337.8 337 .8 337 .8 337 .8 326.5 304 .0 281 .5 258.9
WSGov. - Adtiance 10.00% 92.5 80.0 70.0 60.0 50.0 40 .0 30.0 20 .0 10 .0 2 .5
New Diesel Plant - No. 13 9.65% 0.0 0.0 263.5 527 .1 527 .1 505.1 461 .2 417 .3 373 .3 329.4
New Diesel Plant - No. 14 9.65% 0 .0 0.0 0.0 0.0 0.0 298 .8 597.7 597 .7 572 .8 523 .0
New Diesel Plant - No. 15 9.65% 0 .0 0.0 0 .0 0.0 0.0 0 .0 0 .0 0.0 337 .5 674 .9
New Diesel Plant - No. 16 9.65% 0 .0 0.0 0.0 0.0 0.0 0 .0 0 .0 0 .0 0 .0 342.4
Saleiologa Diesel - No .2 9.65% 0 .0 0.0 108.9 217 .7 217.7 213 .2 199.6 181 .4 163 .3 145 .2
Salelologa Diesel - No .3 9.65% 0 .0 0.0 0 .0 0.0 0.0 0.0 128.5 257 .1 257 .1 257 .1
WSNPF - Existing Loan 12.00% 19.7 12.1 4.0 0.0 0.0 0 .0 0 .0 0.0 0 .0 0 .0
WSNPF - New Loan 12.00% 0 .0 660.0 660.0 660.0 660.0 660 .0 660.0 660 .0 660 .0 660 .0
EPC BOND ISSUE 12.00% 0.0 0.0 0 .0 0.0 0.0 0 .0 0 .0 0.0 0.0 0 .0
BWS TERM LOAN/OD FACILITY 15.00% 412.5 825.0 375.0 150.0 0.0 0 .0 0 .0 0.0 0 .0 0 .0
TOTAL 1420.5 4491 .1 5844.5 5868.0 5529.0 5605 .0 5767.0 5614 .2 5645 .1 5995 .7
30 June
2000/01

RUN (A)
Assumptions Tariff Increases in Line with Inflation
from 1 July 1992
Funding Shortfall in 1991/92 and 1992/93 Met by
EPC Borrowings/Bond Issue
Loan Restructuring : Afulilo ADB/IDA
Principal Repayments Deferred to 1993/94
APPENDIX E

ELECTRIC POWER CORPORATION, WESTERN SAMOA
RUN ( A) - Tariff Increases in line with Inflation from 1 July 1992
- Funding Shortfall in 1991/92 and 1992/93 Met By EPC Borrowings/Bond Issue
FINANCIAL PROJECTIONS, 1991/92-2000/01 KEY FINANCIAL INDICATORS
wwwwwwwwwwwwwwwrNrwwwwrwwww+rwwwrwwrwwwwwwwwwwwwwwrwwwwwwwwwwwwwwANwwwrwwwAAAMwawwwwwwwrwwwwwwwwwwwtiwrwwwwwwwwrw~wwwwwwwwwwwwwwwwwwwrwwwwwrww w wwtwwwwwwwrwwww :wwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwwewwwwwwwwwwwwww
Year Ended 31 Dec. 31 Dec. 31 Dec . 31 Dec . 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
1987 1988 1989 1990 1991 1991/92 1992193 1993/94 1994/95 1995/96 1996/97 1997/98 1998/99 1999/2000 2000/01
(WS$ 1000) Actual Actual Actual Actual Prov. Projections
- - - - - - - - - - - - -- - - - - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -
Total energy sales (GWh) 33 .6 37.0 38.0 36 .9 20.2 42 .5 45 .4 48.6 51 .0 53.6 56.3 59.1 62 .0 65 .1 65 .3
Increase perannum (%) 6.8% 10 .0% 2.7% -2.9% 9.5% 5 .2% 6 .7% 7 .2% 5.0% 5 .0% 5 .0% 5.0% 5 .0% 5.0% 0.3%
Electricity Sales Revenue 9,461 .7 10,415.2 10,615.1 11,450 .7 8,288.4 17,000 .0 19,319 .1 21,945.8 24,425.7 27,056.8 29,830.7 32,886.6 36,261 .3 39,971 .0 42,079 .1
Average revenue/kWh (WS$) 0 .28 0 .28 0.28 0.31 0.40 0.40 0 .43 0.45 0 .48 0 .50 0.53 0.56 0 .58 0.61 0 .64
Change in av. revenue (%) 0.0% 0 .0% 0.0% 11 .1% 28.9% 0.0% 6 .5% 6 .0% 6 .0% 5 .5% 5 .0% 5.0% 5 .0% 5.0% 5.0%
Net Operating Income 780 .2 959.5 (711 .0) (3,315 .9) (811 .2) (1,802 .4) 3,999 .2 7,624.5 8,761 .0 9,990.4 10,932.1 11,640.1 12,684 .8 13,326.9 11,821 .5
Net Proft/( Loss) (916 .7) 518.5 (2.128.8) (5,228 .3) (98.1) (3,022 .9) (491 .9) 1,780.0 2,893 .0 4,461 .4 5,327.1 5,873.1 7,070 .6 7,681 .8 5,825 .7
Internal Cash Generation 4,428 .9 4,530.4 4,505.6 940 .4 1,457.1 2,973 .6 9,964 .0 15,485.6 17,432 .7 19,141 .4 20,857.2 22,464.4 24,152 .6 25,698.4 25,471 .5
Debt Service : Interest 815 .4 766.9 844 .1 806 .7 352.1 1,420 .5 4,491 .1 5,844.5 5,868 .0 5,529.0 5,605.0 5,767.0 5,614 .2 5,645.1 5,995 .7
Principal 967 .3 11,134.2 1,942.1 1,199 .1 57.0 1,656 .9 4,064 .1 3,833.7 3,426 .4 2,587.2 3,146.5 3,484.8 3,495 .7 4,022.7 3,984 .4
:Total 1,782 .7 11,901 .0 2,786.2 2,005 .8 409.0 3,077.3 8,555 .2 9,678.2 9,294 .4 8,116.2 8,751 .5 9,251 .8 9,109 .8 9,667.8 9,980 .2
Capital Expenditure 5,448 .8 3,768.6 5,391 .5 5,175 .6 5,054 .4 42,016 .0 26,998 .2 11,166.3 748 .4 777.9 9,656.2 3,681 .6 1,056 .9 11,036.8 11,491 .2
Financed By : Loans 978 .5 1,242.8 424.4 5,249 .9 4,329.2 22,475 .0 14,829 .0 7,041 .1 0 .0 0 .0 6,193.6 1,865.0 0 .0 6,993.8 7,283 .4
Grants 1,134 .9 10,937.3 5,040.0 1,268 .3 (459.7) 18,912 .0 12,292 .2 326.2 0 .0 0 .0 0.0 0 .0 0 .0 0.0 0.0
Other 0 .0 6 .4 20.0 27 .8 81 .2 100 .0 100 .0 100.0 100 .0 100.0 100.0 100.0 100.0 100.0 100 .0
Total 2,113 .5 12,186.5 5,484 .4 6,546 .0 3,950.6 41,487 .0 27,221 .2 7,467.3 100 .0 100.0 6,293.6 1,965.0 100 .0 7,093 .8 7,383 .4
Cash (closing balance) (397 .7) 1,164.5 2,858.3 2,375 .9 618.5 318 .3 739 .0 1,715.5 8,599 .6 18,458.3 26,730.5 37,772.1 51,392 .1 63,007.0 74,119 .4
Rate Base - Revalued 34248 70328 83293 93528 92364 108357 164174 212054 222640 227035 235429 244970 250242 259078 272875
Rate of Return 23% 1 .4% -0.9% -3.5% -0.9% -1 .5% 24% 3 .6% 3 .9% 4.4% 4.6% 4.8% 5 .1% 5 .1% 4 .3%
Debt Service Ratio 2 .0 0 .4 1 .5 0.5 3.6 1 .0 1 .2 1 .6 1 .9 2.4 2.4 2.4 2 .7 2.7 2 .6
Self Financing Ratio - Annual 0 .31 (1 .92) 0.24 (0.36) (0.16) 0 .00 0 .00 0.41 9 .93 13.42 1 .19 3.44 13 .70 1 .40 1 .32
Self Financing Ratio - 5 YR AVE 0 .58 (1 .83) 0.26 (0.15) (0.05) 0 .01 0 .01 0.28 0 .75 2 .00 3.62 2.41 1 .96 2.83 3 .21
Debt/Debt plus Equity 33 .5% 18 .7% 13.8% 18.0% 22.5% 25 .9% 28 .1% 27 .6% 25 .1% 22 .4% 21 .7% 20.1% 17 .7% 17.2% 16 .9%

ELECTRIC POWER CORPORATION, WESTERN SAMOA
-------------------------------
FINANCIAL PROJECTIONS, 1991/2-2000/1
RUN (A)
ff##M4##fH11M#ffiffff#ffffffff###Yff*M####fff*** * #M####*M###1,#ffMM#ff##fffMff####M##Hf###M###fM###M*M##* fHff#M##M#M#HH*#ffff##N####f#f###,Iffff##Wf#fif#####Hfttfffff#,#Rff#*Hff##Mff###fff#
REVENUE AND EXPENDITURE
• • • •"••• • `
31 Dec .
1987
31 Dec.
1988
31 Dec.
1989
31 Dec .
1990
30 June
1991
30 June 30 June
1991/92 1992/93
(WS$'000)
Actual Actual Actual Actual Prov. Projections
-- - ---- --- ---
------ ----
--- --- - ---
Total energy generation (GWh) 40 .2 43 .0 44 .0 42.0 23 .9 50 .1 52.9 55.4 58.0 60.7 63.5 66 .5 69 .6 72 .9 76 .5
System losses (%) 16 .4% 13 .9% 13.6% 12 .2% 15.3% 15 .2% 14.3% 12.3% 12 .0% 11 .7% 11 .4% 11 .2% 10.9% 10.7% 14 .6%
Total energy sales (GWh) 33 .6 37 .0 38 .0 36.9 20 .2 42 .5 45 .4 48.6 51 .0 53.6 56.3 59 .1 62.0 65 .1 65 .3
Increase perannum (%) 6 .8% 10 .0% 27% -2 .9% 9.5% 5 .2% 6.7% 7.2% 5.0% 5.0% 5.0% 5.0% 5.0% 5.0% 0.3%
1f#M1M###M#MNRRM1fMM###f#H# Y#!#R#######f ##~,#M###M# M#,Y###MMf #R#MMMH# M#######Hf M#######M# #######!#M1 ###MM##N##########H# ##f#MNM1r# ####N#f#M# M###f#####f M#f###M## # M#######ff f f##MR####f
30 June
1993/94
30 June
1994/95
30 June
1995/96
30 June
1996/97
30 June
1997/98
30 June 30 June
1998/99 1999/2000
Average revenue/kWh (WS$) 0 .28 0 .28 0.28 0.31 0.40 0 .40 0 .43 0.45 0.48 0.50 0.53 0 .56 0.58 0.61 0 .64
Change in av. revenue (%) 0 .0% 0 .0% 0.0% 11 .1% 28.9% 0.0% 6.5% 6.0% 6 .0% 5 .5% 5 .0% 5 .0% 5 .0% 5.0% 5 .0%
OPERATING REVENUE :
Electricity sales 9,461 .7 10,415 .2 10,615 .1 11,450.7 8,288 .4 17,000 .0 19,319 .1 21,945.8 24,425.7 27,056.8 29,830.7 32,886 .6 36,261 .3 39,971 .0 42,079 .1
Less :019count 379 .7 404 .7 416 .6 437.5 319 .6 680 .0 772 .8 877.8 977.0 1,082.3 1,193.2 1,315 .5 1,450.5 1,598 .8 1,683 .2
------ ------------------------------------------------------------------------------------
Net Electricity sales 9,082 .0 10,010 .5 10,198 .5 11,013.2 7,968 .8 16,320 .0 18,548 .3 21,068.0 23,448.7 25,974 .5 28,637 .4 31,571 .2 34,810.9 38,372 .2 40.396 .0
Other Revenue (Net) 236 .0 151 .7 716 .3 980.0 336 .0 382 .8 407 .7 432.2 458.1 483.3 507.5 532 .8 559.5 587 .4 616 .8
------------------------------------------------------------ ------ ------ ------ ------ ------
9,318 .0 10,162 .2 10,914 .9 11,993.2 8,304 .8 16,702 .8 18,954 .0 21,500.2 23,906.8 26,457.8 29,144.9 32,104 .0 35,370.3 38,959 .6 41,012 .8
OPERATING COSTS :
Fuel 2,989.2 2,844 .7 3,947 .5 5,815.1 4,149 .4 8,418 .5 5,150 .2 2,390.1 2,413.7 3,047.5 3,7425 4,773 .2 6,018.4 7,515 .4 9,389 .7
Generation 880 .8 1,327 .2 1,636 .9 3,341 .0 1,841 .0 3,521 .6 1,934 .4 1,604.6 1,919.4 2,010.2 2,173.6 2,376 .1 2,584.5 3,000 .3 3,268 .8
Distribution/Sales 295 .2 430 .0 544 .1 524.5 378 .2 741 .1 789 .3 836.6 886.8 935.6 982.4 1,031 .5 1,083.1 1,137 .2 1,194 .1
Administration 723 .9 715 .7 820 .3 920.0 531 .3 1,048 .1 1,116 .2 1,183.2 1,254.2 1,323.1 1,389.3 1,458 .8 1,531 .7 1,608 .3 1,688 .7
Depreciation 3,648 .7 3,885 .0 4,677 .0 4,708.6 2,216 .3 4,576 .0 5,964 .8 7,861 .1 8,671 .7 9,150.9 9,925.1 10,824 .3 11,467.8 12,371 .6 13,650 .1
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
8,537 .8 9,202 .7 11,625 .8 15,309.1 9,116 .1 18,305 .2 14,954 .9 13,875.7 15,145.8 16,467.4 18,212.8 20,463 .9 22,685.5 25,632 .8 29,191 .3
------ ------ ------ ------ ------------ ------ ------------ ------ ------ ------------ ------------
NET OPERATING INCOME 780 .2 959 .5 (711 .0) (3,315.9) (811 .2) (1,802 .4) 3,999 .2 7,624.5 8,761 .0 9,990.4 10,932.1 11,640 .1 12,684.8 13,326.9 11,821 .5
------------------------------------------------------------------------------------------
INTEREST EXPENSE 824 .5 781 .0 848 .2 842.5 354 .3 1,420 .5 4,491 .1 5,844.5 5,868.0 5,529.0 5,605.0 5,767 .0 5,614.2 5,645 .1 5,995 .7
NETINCOME (44 .3) 178 .5 (1,559 .2) (4,158.4) (1,165 .5) (3,022 .9) (491 .9) 1,780.0 2,893.0 4,461 .4 5,327.1 5,873 .1 7,070.6 7,681 .8 5,825 .7
------ ------------------------------------------------------------------------ ------------
EXTRAORDINARY ITEMS 872 .4 (340 .0) 569 .6 1,069 .9 (1,067 .4) 0.0 0.0 0.0 0 .0 0 .0 0 .0 0.0 0 .0 0 .0 0.0
NET PROFIT/(LOSS) (916 .7) 518 .5 (2,128 .8) (5,228.3) (98 .1) (3,022 .9) (491 .9) 1,780.0 2,893.0 4,461 .4 5,327.1 5,873 .1 7,070.6 7,681 .8 5,825 .7
-- - -- -- ----- -- -- - -- -- - ---- -- - - --- ------- --- ---- ---- --- ------ - ------- -- ----- -- - ---- -- -- --- -- - --- - -- - - -- - -- - - -- - -- - - -- - -- - --- - -
Rate Base (average net 34248 70328 83293 93528 92364 108357 164174 212054 222640 227035 235429 244970 250242 259078 272875
revalued plant in service)
Rate of Return 2.3% 1 .4% -0.9% . -3 .5% -0.9% -1 .5% 2.4% 3.6% 3 .9% 4 .4% 4 .6% 4.8% 5 .1% 5 .1% 4.3%
30 June
2000/01

•
H+WHHHHH* HHHHHif HI,HHHM* H •AHSSSNS HM1fHH•fMfNM1fMf HHMM1Hf HMffinl,Hif H11H.,fHff H1HH111f f iH1f1,MH~,f }filiH+HHf M+H+H1f•f Hif1H+Hf i+HfiiffHf
SOURCES & APPLICATIONS 31 Dec. 31 Dec. 31 Dec . 31 Dec . 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
∎f . ..H ∎ 1987 1988 1989 1990 1991 1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997/98 1998/99 1999/2000 2000/01
RUN (A) (WSS '000) Actual Actual Actual Actual Prov. Projections
- - - - - - - - - - - - - - - - - - -- - - -- - -- - - -- - -- - - -- - -- - - - - - -- - - - - - -- - - -- - -- - - -- - -- - - - - - -- - - - - - -- - - - - - -- - - -- - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -
Internal Cash Generation
Net Income Before Interest 780.2 959 .5 (711 .0) (4,866.2) 256.2 (1,602 .4) 3,999.2 7,624 .5 8,761 .0 9,990.4 10,932 .1 11,640.1 12,684 .8 13,326 .9 11,821 .5
Add : Depreciation 3,648.7 3,885 .0 4,677.0 4,708.6 2,216.3 4,576 .0 5,964.8 7,861 .1 8,671 .7 9,150.9 9,925 .1 10,824.3 11,467 .8 12,371 .6 13,650.1
Other Non Cash Items 0.0 (314 .2) 539.5 1,097.9 (1,015.3) 0.0 0.0 0.0 0.0 0.0 0 .0 0 .0 0.0 0 .0 0.0
•
4,428.9 4,530 .4 4,505.6 940.4 1,457.1 2,973 .6 9,964.0 15,485 .6 17,432 .7 19,141 .4 20,857 .2 22,464.4 24,152.6 25,698 .4 25,471 .5
Customers Capital Contributions 94 .7 64 .2 61 .4 19 .4 163 .4 100 .0 100.0 100.0 100 .0 100 .0 100 .0 100 .0 100 .0 100 .0 100 .0
Operating Requirements
Debt Repayments
Interest 815.4 766.9 844 .1 806 .7 352 .1 1,420.5 4,491 .1 5,844.5 5,868.0 5,529 .0 5,605 .0 5,767 .0 5,614 .2 5,645.1 5,995 .7
Principal 967.3 11,134 .2 1,942 .1 1,199 .1 57 .0 1,656.9 4,064.1 3,833.7 3,426.4 2,587 .2 3,146 .5 3,484 .8 3,495 .7 4,022.7 3,984 .4
------------ ------ ------------ ------ ------------ ------ ------ ------------ ------ ------ ------
1,782.7 11,901 .0 2,786 .2 2,005 .8 409 .0 3,077.3 8,555.2 9,678.2 9,294.4 8,116.2 8,751 .5 9,251 .8 9,109 .8 9,667.8 9,980 .2
Increase (decrease) in
Working Capital 936.5 (124.9) 4522 804 .7 1,867 .2 (234.6) 1,311 .1 1,232.0 705.8 588 .5 570.9 554 .4 565 .9 572.7 371 .1
------------------------------------ ------------------------------------------------------
Total Operating Requirements 2,719.2 11,776.1 3,238 .4 2,810 .5 2,276 .2 2,842.7 9,866.3 10,910.2 10,000.2 8,704 .7 9,322.4 9,806 .2 9,675 .7 10,240.5 10,351 .3
------------------------ ------------------------ ------------------------------------------
FUNDS AVAILABLE FROM OPERAT 1,804.5 (7,181 .6) 1,328 .6 (1,850 .8) (655 .7) 230.9 197.7 4,675.4 7,532.5 10,536 .6 11,634 .8 12,758 .3 14,576 .9 15,557.9 15,220 .2
------------------------------------------------ ------------------------------------------
Capital Expenditure Etc .,
Construction programme plus IOC 5,446 .8 3,768.6 5,391 .5 5,175.6 5,054 .4 42,016.0 26,998 .2 11,166 .3 748 .4 777 .9 9,656.2 3,681 .6 1,056 .9 11,036 .8 11,491 .2
------------------------------------------------ ------------------------------------------
Finance Required (3,642 .3) (10,950 .2) (4,062.9) (7,026.4) (5,710.1) (41,785.1) (26,800 .5) (6,490 .9) 6,784.1 9,758 .7 1,978.6 9,076.6 13,520 .0 4,521 .1 3,729.1
------------------------------------------------------------------------------------------
Financed By :
Loans
Grants
Other
978 .5
1134 .9
0 .0
1,242.8
10,937.3
6 .4
424 .4
5,040.0
20.0
5,249.9
1,268.3
27.8
4,329.2
(459.7)
81 .2
22,475.0
18,912.0
100.0
14,829 .0
12,2922
100 .0
7,041 .1
326 .2
100 .0
0 .0
0 .0
100 .0
0.0
0.0
100.0
6,193.6
0 .0
100 .0
1,865.0
0 .0
100.0
0.0
0.0
100 .0
6,993 .8
0 .0
100 .0
7,283.4
0.0
100.0
------ ------ ------ ------ ------ ------------ ------ ------ ------ ------ ------ ------------ ------
2,113 .5 12,186 .5 5,484.4 6,546.0 3,950.6 41,487.0 27,221 .2 7,467 .3 100 .0 100.0 6,293.6 1,965.0 100 .0 7,093 .8 7,383.4
------ ------ ------ ------ ------ ------ ------------ ------ ------ ------ ------ ------ ------------
Increase (decrease) in cash
(1,528 .9) 1,562.3 1,891 .8 (480.4) (1,759.5) (298.1) 420.7 976 .4 6,884 .1 9,858.7 8,272 .2 11,041 .6 13,620.0 11,614 .9 11,112.4
------ ------------ ------------ ------ ------------ ------ ------ ------ ------------ ------------
Cash (opening balance)
Cash (closing balance)
1,131 .1 (397 .8) 1,164.5 2,856.3 2,375.9 616.5 318.3 739 .0 1,715 .5 8,599.6 18,458 .3 26,730.5 37,772.1 51,392 .1 63,007.0
------------------------------------ ------ ------ ------ ------ ------ ------ ------ ------ ------
(397 .7) 1,164 .5 2,856.3 2,375 .9 616 .5 318 .3 739.0 1,715.5 8,599.6 18,458.3 26,730 .5 37,772 .1 51,392.1 63,007 .0 74,119 .4
---------------------------------------------------------------------------------------------------------------------------
Debt Service Ratio 2.0 0.4 1 .5 0.5 3 .6 1 .0 1 .2 1 .6 1 .9 2 .4 2.4 2.4 2 .7 2.7 2 .6
Self Financing Ratio - Annual 0.31 (1 .92) 0 .24 (0.36) (0.16) 0.00 0 .00 0.41 9.93 13 .42 1 .19 3 .44 13 .70 1 .40 1 .32
Self Financing Ratio - 5 YR AVE 0.58 (1 .83) 0 .26 (0.15) (0.05) 0.01 0 .01 0.28 0.75 2 .00 3.62 2 .41 1 .96 2 .83 3 .21
. .wfHflHHifMHMRiif+H+H•H +HfN .1f+.1MH+MHH1fHf H.•H i•H+. ••++++H+•+.H+.HH+H . H+HHfM. MH•fHH+ .+1f .+HHf. . HHMHHf+f+HH+ii+7, HHiM++++++H+ .+fi...+ .e.HHHH f Mf . .HHf. . H.HHH . .

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RUN (A) BALANCE SHEET 31 Dec. 31 Dec. 31 Dec . 31 Dec . 30 June 30 June 30 June
.rfrrMlf rrfww**fflfrf 1987 1988 1989 1990 1991 1991/92 1992/93
(WS$'000) Year end : Actual Actual Actual Actual Prov. Projections
ASSETS
Gross Fixed Assets
Less: Accum. Depreciation
Net Book Value 68,495 .5 72,160 .8 94,425.9 92,630 .4 92,098.6 124,614 .8
Work In Progress 4.392 .5 5,387 .0 8,621 .5 12,783 .4 21,500 .0 49,050 .1
Net fixed Assets
Intangible Assets
Current Assets
Cash/Deposits
Customer Accounts Receivable
Other Receivables
Accrued Revenue
Prepayrnents
Refund from GOWS/Other
Inventories
Total current assets
TOTAL ASSETS
EQUITY AND LIABILITIES
Equity
Government/Grants ;
General Reserves
Revaluation Reserve
Retained Earnings
Total Equity
Long Term Debt
Current Liabilities
Bank Overdraft
Sundry Credftors/Provisions
Interest Payable
Loans - Current Portion
Total Current Liabilites
TOTAL EQUITY AND LIABILITIES
Debt/Debt plus Equity
109,656 .8 119,192.2 143,505.7 142,148 .3 144,589.7 181,681 .9 266,764 .1 291,268.6 304,468 .8 317,882 .2 340,333.1 357,713 .2 373,168.1 399,224 .9 426,784 .8
41,161 .3 47,031 .3 49,079.7 49,517 .9 52,491 .1 57,067 .1 63,031 .9 70,893.0 79,564 .8 88,715.7 98,640.8 109,465 .1 120,932 .9 133,304 .5 146,954 .5
------------ ------------------------------------------ ------ ------ ------ ------ ------ ------
203,732.2 220,375.6 224,904 .0 229,166.5 241,692 .3 248,248 .1 252,235 .2 265,920 .4 279,830 .3
50.1 50.1 50.1 50.1 50 .1 50.1 50 .1 50 .1 50 .1
------------------------------------ ------ ------ ------ ------ ------ ------ ------ ------ ------
72,888 .0 77,547.8 103,047.4 105,413 .8 113,598.6 173,664.9 203,782 .3 220,425.7 224,954 .1 229,216 .5 241,742.4 248,298 .2 252,285 .2 265,970 .5 279,880 .4
475 .3 381 .1 301 .0 178 .4 159.3 142 .0 142.0 142.0 142 .0 142 .0 142.0 142 .0 142 .0 142 .0 142 .0
706 .0 1,164 .5 3,059.3
453.7 422.1 376.4
124.5 81 .1 199.2
578.4 591.0 532.0
156 .7 63 .2 102.9
1,076 .8 318 .5 30.7
2,473 .4 2,826 .8 3,670.9
------ ------ ------
5,569.4 5,467.1 7,971 .4
------ ------ ------
78,932.7 83,396.1 111,319.8
25,316.8 15,238.5 15,053.0
1,103 .8 0 .0 203.0
541 .6 687.5 837.7
825 .3 43.5 50.6
1,190.2 1,063.0 1,114.3
------ ------ ------
3,460.8 1,794.0 2,205.6
------ 78,932.8 ------ 83,396.1 ------
111,319.8
33 .5% 18 .7% 13 .8%
2,375 .9 895.5 318 .3
615.3 666.6 944.4
168.4 347.3 376.9
796 .9 1,000.6 680.0
166 .1 338.0 366.7
76 .1 308.5 0 .0
5,390 .9 5,759.9 6,249 .5
------ ------ ------
9,589.5 9,316.2 8,935.8
------ ------ ------
115,181 .7 123,074.1 182,7427
26,636.7 37,574.0 42,574.0 43,842.3 45,855.5 64,787.5
546.6 548.6 546.6 546.6 546.6 546.6
36,748 .9 41,431 .1 66,149.4 67,950 .5 66,649.1 89,100.7
(13,777.1) (13,188.1) (15,208.9) (20,414.1) (20,347.1) (23,370.0)
------ ------ ------ ------ ------ ------
50,155 .1 66,363 .6 94,061 .1 91,925 .3 92,704 .1 131,044 .9
20,125 .6 26,970.4 45,716.4
739.0 1,715.5
1,073 .3 1,219.2
401 .3 425.4
772.8 877.8
390.5 414.0
0.0 0 .0
6,655.7 7,055.0
------ ------
10,032 .7 11,707.0
------ ------
213,957 .0 232,274.6
77,059 .7 77,385.9
746.6 946.6
96 .166 .3 108,809.4
(23,861 .9) (22,081 .9)
------ ------
150,110.7 165,060 .0
58,711 .7 63,003.3
30 June 30 June
1993/94 1994/95
0 .0 279.0
1,813 .9 1,200.8 1,632 .1 997 .1 463.0 467.8
90 .6 262.9 285 .2 303.8 322.0 341 .3
1,226.3 1,656.9 4,064.1 3,833 .7 3,426.4 2,587.2
------ ------ ------ ------ ------ ------
3,130.8 3,399.5 5,981 .4 5,134 .6 4,211 .4 3,396 .4
------ 115,181 .7 ------ 123,074.1 ------ 182,742.7 ------ 213,957 .0 ------ 232,274.7 ------
244,397 .8
18 .0% 22 .5% 25 .9% 28.1% 27 .6% 25.1%
30 June 30 June
1995/96 1996/97
8,599.6 18,458.3 26,730 .5
1,357 .0 1,503 .2 1,657.3
451 .0 475 .8 499.5
977 .0 1,082 .3 1,193.2
438 .8 462.9 486.1
0.0 0.0 0 .0
7,478 .3 7,889.6 8,284.1
------ ------ ------
19,301 .7 29,872 .0
------ ------
244,397 .8 259,230 .6
77,385 .9 77,385 .9
1,146 .6 1,346 .6
121,241 .8 133,858 .4
(19,189 .0) (14,727 .6)
------ ------
180,585.3 197,863.3
60,416 .1 57,269 .6
30 June 30 June 30 June 30 June
1997/98 1998/99 1999/2000 2000/01
37, 772 .1 51, 392 .1
1,827 .0 2,014.5
524 .5 550 .7
1,315 .5 1,450.5
510 .4 535 .9
0 .0 0 .0
8,698 .3 9,133 .3
------ ------
38,850.7 50,647 .8 65,076 .9
------ ------ ------
280,735.2 299,088 .0 317,504 .2
63,007 .0 74,119 .4
2,220 .6 2,337 .7
578 .3 607 .2
1,598 .8 1,683 .2
562 .7 590 .8
0 .0 0.0
9,589 .9 10,069 .4
------ ------
77,557.3 89,407 .7
------ ------
343,669 .8 369,430 .1
77,385.9 77,385 .9 77,385.9 77,385 .9 77,385 .9
1,548.6 1,746 .6 1,946 .6 2,146 .6 2,346 .6
146,635.2 159,515 .4 173,893 .5 188,892 .7 205,127 .6
(9,400.5) (3 .527 .4) 3,543 .2 11,225 .0 17,050 .8
------------------ ------------
216,167 .2 235,120 .5 256,769 .3 279,650 .2 301,910 .9
59,978 .5 59,147 .1 55,124 .4 58,133 .7 61,183 .6
591 .0 726 .6 927 .7 1,170 .9 1,463 .7 1,830 .5
360.1 378 .1 397 .0 416.9 437 .7 459 .6
3,146 .5 3,464.8 3,495 .7 4,022.7 3,984 .4 4,045 .4
------------ ------ ------------ ------
4,097 .6 4,589.5 4,820 .4 5,610 .5 5,885 .8 6,335 .6
------ 259,230.6 ------ 280,735 .2 ------ 299,088 .0 ------ 317,504 .2 ------ 343,669 .8 ------
369,430 .1
-----------------------------------------------------------------------------------------------------------------------------
22.4% 21 .7% 20.1% 17 .7% 17 .2% 16.9%
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RUN (B)
Assumptions Tariff Increases to Achieve 5% RofR by
1994/95
Funding Shortfall : Afulilo met by EPC
Borrowings/Bond Issue
Loan Restructuring : Afulilo ADB/IDA
Principal Repayments Deferred to 1993/94
APPENDIX E

ELECTRIC POWER CORPORATION, WESTERN SAMOA
RUN (B) - Tariff Increases to achieve 5% ROfR by 30 June 1995
- Funding Shortfall in 1991/92 and 1992/93 Met By EPC Borrowings/Bond Issue FINANCIAL PROJECTIONS, 1991/2-2000/1 KEY FINANCIAL INDICATORS
fHfHfHlrMffffMffffffHHHHiff W ffHHHHf HfHMFMf f HHHHHI,f HfHHHHf HH4ffflfHf fHRMMff f HNANHH* H\*HHHf f MSSHMHN} f*HHHHf f Hff*HHH * Hf ffffiifi f HHifffflf f HfffHfHf f HHHfHH'
Year Ended 31 Dec . 31 Dec . 31 Dec . 31 Dec . 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
1987 1988 1989 1990 1991 1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997/98 1998/99 1999/2000 2000/01
(WSS - 000) Actual Actual Actual Actual Pro . Projections
- - - - - - - - - - - - - - - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -
Total energy sales (GWh) 33.6 37.0 38.0 36.9 20.2 42.5 45.4 48 .6 51 .0 53.6 56.3 59 .1 62 .0 65 .1 65 .3
Increase per annum (%) 6 .8% 10.0% 2.7% -2.9% 9 .5% 5.2% 6.7% 7.2% 5 .0% 5 .0% 5.0% 5.0% 5.0% 5.0% 0 .3%
Electricity Sales Revenue 9,461 .7 10,415.2 10,615.1 11,450.7 8,288.4 17,000.0 20,091 .9 23,736 .6 27,475 .6 30,435.2 33,555.4 36,993 .0 40,789 .0 44,962 .0 47,333.3
Average revenue/kWh (WS$) 0.28 0.28 0.28 0.31 0 .40 0.40 0.44 0 .49 0 .54 0.57 0.60 0 .63 0.66 0 .69 0.72
Change in av. revenue (%) 0.0% 0.0% 0.0% 11 .1% 28 .9% 0.0% 10.8% 10 .2% 10 .2% 5 .5% 5.0% 5 .0% 5.0% 5 .0% 5 .0%
Net Operating Income 780.2 959.5 (711 .0) (3,315.9) (811 .2) (1,602.4) 4,741 .0 9,343 .6 11,688 .9 13,233.7 14,507.9 15,582 .2 17,031 .4 18,118 .2 16,865 .5
Net Profit/( Loss) (916.7) 518.5 (2,128.8) (5,228.3) (98.1) (3,022.9) 249.9 3,499 .1 5,820 .9 7,704.7 8,902.9 9,815 .2 11,417 .3 12,473 .1 10,869 .7
Internal Cash Generation 4 .428.9 4,530.4 4,505.6 940.4 1,457.1 2,973.6 10,705.8 17,204.8 20,360 .6 22,384.6 24,432.9 26,406 .5 28,499 .3 30,489 .7 30,515.5
Debt Service : Interest 815.4 766.9 844.1 806 .7 352.1 1,420.5 4,491 .1 5,844.5 5,868 .0 5,529.0 5,605.0 5,767 .0 5,614 .2 5,645 .1 5,995.7
Principal 987.3 11,134 .2 1,942.1 1,199 .1 57.0 1,856.9 4,064 .1 3,833.7 3,426.4 2,587.2 3,146.5 3,464 .8 3,495 .7 4,022 .7 3,984.4
Total 1,7827 11,901 .0 2,786.2 2,005 .8 409.0 3,077.3 8,555 .2 9,678.2 9,294.4 8,116.2 8,751 .5 9,251 .8 9,109 .8 9,667 .8 9,980.2
Capital Expenditure 5,446.8 3,768 .6 5,391 .5 5,175 .6 5,054.4 42,018.0 26,998 .2 11,166.3 748.4 777.9 9,656 .2 3,681 .6 1,056 .9 11,036 .8 11,491 .2
Financed By : Loans 978.5 1,242.8 424 .4 5,249 .9 4,329.2 22,475.0 14,829 .0 7,041 .1 0 .0 0.0 6,193 .6 1,865.0 0 .0 6,993 .8 7,283.4
Grants 1,134.9 10.937 .3 5,040.0 1,268 .3 (459.7) 18,912.0 12,292.2 326 .2 0 .0 0.0 0.0 0 .0 0.0 0 .0 0 .0
Other 0 .0 6.4 20.0 27 .8 81 .2 100.0 100.0 100 .0 100 .0 100.0 100.0 100 .0 100 .0 100 .0 100 .0
Total 2,113.5 12,188.5 5,484.4 6,546 .0 3,950.6 41,487.0 27,221 .2 7,467 .3 100 .0 100.0 6,293.6 1,965 .0 100 .0 7,093 .8 7,383.4
Cash (closing balance) (397.7) 1,164 .5 2,856.3 2,375 .9 616.5 318.3 1,407 .1 4,005.4 13,697 .1 26,767.6 38,582.5 53,529 .8 71,456 .1 87,818 .0 103,949 .3
Rate Base - Revalued 34248 70328 83293 93528 92364 108357 164174 212054 222640 227035 235429 244970 250242 259078 272875
Rate of Return 2 .3% 1 .4% -0.9% -3.5% -0 .9% -1 .5% 2.9% 4 .4% 5 .3% 5 .8% 6.2% 6 .4% 6.8% 7 .0% 6 .2%
Debt Service Ratio 2.0 0.4 1 .5 0 .5 3.6 1 .0 1 .3 1 .8 2 .2 2.8 2.8 2 .9 3 .1 3 .2 3 .1
Self Financing Ratio - Annual 0.31 (1 .92) 0.24 (0.36) (0 .16) 0.00 0.03 0 .56 13 .68 17.54 1 .56 4 .50 17.77 1 .83 1 .75
Self Financing Ratio - 5 YR AVE 0.58 (1 .83) 0.26 (0.15) (0 .05) 0.01 0.04 0 .38 1 .04 2.62 4.74 3 .16 2.54 3 .71 4.27
Debt/Debt plus Equity 33 .5% 18.7% 13.8% 18.0% 22 .5% 25.9% 28.0% 27 .3% 24 .5% 21 .7% 20.8% 19 .1% 16.6% 16 .0% 15 .6%

ELECTRIC POWER CORPORATION, WESTERN SAMOA
-------------------------------
FINANCIAL PROJECTIONS, 1991/2-2000/1
RUN(B)
\iMIrirMMYiiif,4ii„Ir,/iif MlMNMMff1M1MMMf,IflMMMM\ M1fM111Mf M111MN11f 1111ffiffMf MNNiifN• M1M\HM1f 1fM1M1M1fMM\LO\\'ifi fiNiMHNi iifififii\ff f\iMiffiiiR Rf\f##ifiM
REVENUE AND EXPENDITURE 31 Dec . 31 Dec . 31 Dec. 31 Dec. 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
fffiifif1111Mf1ffffMiiif •
1987 1988 1989 1990 1991 1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997/98 1998/99 1999/2000 2000/01
(W S$ '000) Actual Actual Actual Actual Prov. Projections
--------------------------------------------------------------------------------------------------------------------------
Total energy generation (GWh) 40.2 43.0 44 .0 42.0 23.9 50 .1 52.9 55 .4 58.0 60.7 63.5 66.5 69 .6 72.9 76 .5
System losses (%) 16.4% 13.9% 13.6% 12 .2% 15 .3% 15.2% 14.3% 12.3% 12 .0% 11 .7% 11 .4% 11 .2% 10 .9% 10 .7% 14 .6%
Total energy sales (GWh) 33.6 37 .0 38 .0 36.9 20.2 42 .5 45.4 48 .6 51 .0 53.6 56.3 59.1 62 .0 65.1 65 .3
Increase perannum (%) 6.8% 10.0% 2.7% -2.9% 9.5% 5 .2% 6.7% 7 .2% 5 .0% 5.0% 5 .0% 5.0% 5 .0% 5.0% 0 .3%
Average revenue/kWh (WSS)
Change in av. revenue (%)
OPERATING REVENUE :
Electricity sales
Less :Discount
Net Electricity sales
Other Revenue ( Not)
OPERATING COSTS :
Fuel
Generation
Distr bution/Sales
Administration
Depreciation
NET OPERATING INCOME
INTEREST EXPENSE
NET INCOME
EXTRAORDINARY ITEMS
NET PROFIT/(LOSS)
0.28 0.28 0.28 0.31 0.40 0.40 0.44 0 .49 0.54 0 .57 0.60 0.63 0 .66 0.69 0 .72
0.0% 0.0% 0 .0% 11 .1% 28.9% 0 .0% 10.8% 10 .2% 10 .2% 5.5% 5 .0% 5.0% 5 .0% 5.0% 5 .0%
9,461 .7 10,415 .2 10,615.1 11,450.7 8,288.4 17,000.0 20,091 .9 23,736.6 27,475.6 30,435 .2 33,555.4 36,993 .0 40,789.0 44,962 .0 47,333.3
379 .7 404 .7 418.6 437.5 319 .6 680.0 803 .7 949.5 1,099.0 1,217 .4 1,342.2 1,479 .7 1,631 .6 1,798 .5 1,893.3
------ ----- ------ ------ ------ ------ ------------------ ------ ------------------ ------------
9,082 .0 10,010 .5 10,198.5 11,013.2 7,968 .8 16,320.0 19,288 .2 22,787.1 26,376.6 29,217 .8 32,213.2 35,513 .3 39,157.5 43,163 .5 45,440.0
236 .0 151 .7 718.3 980.0 336 .0 382.8 407 .7 432.2 458.1 483 .3 507.5 532 .8 559.5 587 .4 616.8
------ ----------------------------------------------- ------ ------ ------ ------ ------ ------
9,318 .0 10,162 .2 10,914.9 11,993 .2 8,304 .8 16,702.8 19,695 .9 23,219.3 26,834.7 29,701 .1 32,720.7 36,046 .1 39 .717 .0 43,750 .9 46,056.8
2,989 .2 2,844.7 3,947.5 5,815 .1 4,149 .4 8,418.5 5,150 .2 2,390.1 2,413.7 3,047 .5 3,742.5 4,773 .2 6,018 .4 7,515 .4 9,389.7
880.8 1,327.2 1,636 .9 3,341 .0 1,841 .0 3,521 .6 1,934 .4 1,604 .6 1,919 .4 2,010.2 2,173 .6 2,376.1 2,584 .5 3,000.3 3,268.8
295.2 430.0 544 .1 524 .5 378.2 741 .1 789.3 836 .6 886 .8 935.6 982 .4 1,031 .5 1,083 .1 1,137.2 1,194.1
723.9 715.7 820.3 920 .0 531 .3 1,048.1 1,116.2 1,183 .2 1,254 .2 1,323.1 1,389 .3 1,458.8 1,531 .7 1,608.3 1,888.7
3,848.7 3,885.0 4,677 .0 4,708 .8 2,216.3 4,576.0 5,964.8 7,861 .1 8,671 .7 9,150.9 9,925 .1 10,824.3 11,467 .8 12,371 .6 13,650.1
------------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
8,537.8 9,202.7 11,625 .8 15,309 .1 9,118.1 18,305 .2 14,954.9 13,875 .7 15,145 .8 18,467.4 18,212 .8 20,463.9 22,685 .5 25,632.8 29,191 .3
------------------------------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
780.2 959.5 (711 .0) (3,315.9) (811 .2) (1,602 .4) 4,741 .0 9,343 .6 11,688 .9 13,233.7 14,507 .9 15,582.2 17,031 .4 18,118.2 16,865.5
------------ ------ ------------ ------------------ ------ ------ ------ ------------ ------ ------
824 .5 781 .0 848 .2 842.5 354.3 1,420 .5 4,491 .1 5,844 .5 5,868 .0 5,529.0 5,605 .0 5,767.0 5,614 .2 5,645.1 5,995 .7
(44.3) 178 .5 (1,559 .2) (4,158.4) (1,165.5) (3,022 .9) 249.9 3,499 .1 5,820 .9 7,704.7 8,902 .9 9,815.2 11,417 .3 12,473.1 10,869.7
------ ------ ------ ------------ ------ ------ ------ ------ ------ ------ ------------ ------ ------
872.4 (340 .0) 569 .6 1,069 .9 (1,067.4) 0.0 0 .0 0 .0 0 .0 0 .0 0 .0 0 .0 0 .0 0 .0 0.0
(916 .7) 518 .5 (2,128.8) (5,228.3) (98.1) (3,022.9) 249.9 3,499.1 5,820.9 7,704 .7 8,902.9 9,815 .2 11,417.3 12,473 .1 10,869 .7
-----------------------------------------------------------------------------------------------------------------------------
Rate Base (average net
revalued plant in service)
34248 70328 83293 93528 92364 108357 164174 212054 222640 227035 235429 244970 250242 259078 272875
Rate of Return 2 .3% 1 .4% -0 .9% -3.5% -0.9% -1 .5% 2.9% 4 .4% 5.3% 5.8% 6 .2% 6.4% 6 .8% 7.0% 6 .2%
\ifMMMMf\1f!}\lMMiiiM!liliMl,YlMfIM!\Mf!!M\f!f\MI MN\MN!\I MM\H11H\ M\\\\\\\i\ \ MNi\\\\!i\ Mi \ \NM\1iKMi\\iii \ \M \ \ii\\iH fiMiiMiiii\ i\\ii!\\\M\ MN\i!!!i!i HMliftilii lfliilMfli!lliif!!!!!f'

i+1NN . .N.N11NH..i.f. .f . . .fLNY ..NNNN. • .i.f.H11Mi ...f.f.f1M • .H+Hii+Nf HN1NNHi H+HiNifi+HNNNH1f 1H1HHiiiiiNHHHiii R,MrHSHSN*HIHNHH* H*R4}RRH~,R .NRRRRR*RR* f HRf1ff 1R1Rf H1f11f R11f
SOURCES & APPLICATIONS 31 Dec . 31 Dec . 31 Dec . 31 Dec. 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
1987 1988 1989 1990 1991 1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997/98 1998/99 1999/2000 2000/01
RUN (B) (WS$ - 000) Actual Actual Actual Actual Prov. Projections
- - - -- - - - - - - - - - - - - - -- - - -- - -- - - - - - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - -- - -- - - -- - -
Internal Cash Generation
Net Income Before Interest 780.2 959.5 (711 .0) (4,866.2) 256.2 (1,6024) 4,741 .0 9,343.6 11,688 .9 13,233.7 14,507.9 15,582.2 17,031 .4 18,118.2 16,865.5
Add : Deprecation 3,648.7 3,885.0 4,677.0 4,708.6 2,216.3 4,576.0 5,964.8 7,861 .1 8,671 .7 9,150.9 9,925.1 10,824 .3 11,467 .8 12,371 .6 13,650.1
Other Non Cash Items 0.0 (314.2) 539.5 1,097 .9 (1,015.3) 0.0 0 .0 0.0 0.0 0.0 0.0 0.0 0 .0 0.0 0 .0
------------------ ------------------------------------------------ ------ ----- ------ ------
4,428.9 4,530.4 4,505.6 940.4 1,457 .1 2,973.6 10,705 .8 17,204.8 20,360.6 22,384.6 24,432.9 26,406.5 28,499 .3 30,489 .7 30,515 .5
Customers Capital Contributions 94.7 64.2 61 .4 19.4 163 .4 100.0 100 .0 100.0 100.0 100.0 '100.0 100.0 100 .0 100.0 100 .0
Operating Requirements
Debt Repayments
Interest 815.4 766.9 844.1 806.7 352.1 1,420.5 4,491 .1 5,844.5 5,868 .0 5,529.0 5,605.0 5,767.0 5,614 .2 5,645.1 5,995 .7
Principal 967 .3 11,134.2 1,942.1 1,199.1 57 .0 1,656.9 4,064 .1 3,833 .7 3,426.4 2,587.2 3,146 .5 3,484 .8 3,495 .7 4,022 .7 3,984 .4
------ ------ ------ ------------------ ------ ------------------ ------ ------ ------ ------ ------
1,782.7 11,901 .0 2,786.2 2,005.8 409 .0 3,077.3 8,555 .2 9,678 .2 9,294.4 8,116.2 8,751 .5 9,251 .8 9,109 .8 9,667 .8 9,980 .2
Increase (decrease) in
Working Capital 936 .5 (124.9) 452.2 804.7 1,867 .2 (234.6) 1,385 .0 1,329 .2 826.1 619.9 604 .0 590 .9 606 .2 617 .0 396 .3
------------------ ------------ ------------ ------ ------------ ------ ------ ------ ------------
Total Operating Requirements 2,719 .2 11,776 .1 3,238.4 2,810.5 2,276 .2 2,842.7 9,940.2 11,007 .5 10,120.5 8,736 .1 9,355 .5 9,842 .6 9,716.0 10,284 .8 10,376 .4
------------------ ------------------ ------ ------ ------ ------------ ------ ------ ------------
FUNDS AVAILABLE FROM OPERAT 1,804 .5 (7,181 .6) 1,328.6 (1,850.8) (655 .7) 230.9 865.7 6,297 .3 10,340.1 13,748 .5 15,177 .5 16,663 .9 18,883.3 20,304 .9 20,239 .1
------------------------------------------------------------------------------------------
Capital Expenditure Etc .,
Construction programme plus IDC 5,446 .8 3,768.6 5,391 .5 5,175.6 5,054 .4 42,016.0 26,998 .2 11,166 .3 748.4 777.9 9,656 .2 3,681 .6 1,056.9 11,036 .8 11,491 .2
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Finance Required (3,642 .3) (10,950 .2) (4,062 .9) (7,026 .4) (5,710.1) (41,785 .1) (26,132.5) (4,869 .0) 9,591 .7 12,970 .8 5,521 .3 12,982 .3 17,826.3 9,268 .1 8,747.9
------------------ ------ ------ ------ ------ ------ ------------ ------ ------------------------
Financed By :
Loans 978 .5 1,242 .8 424 .4 5,249 .9 4,329.2 22,475.0 14,829.0 7,041 .1 0 .0 0 .0 6,193 .6 1,865 .0 0 .0 6,993 .8 7,283 .4
Grants 1134 .9 10,937 .3 5,040.0 1,268 .3 (459.7) 18,912.0 12,292.2 326 .2 0.0 0 .0 0.0 0.0 0 .0 0.0 0.0
Other 0.0 6.4 20 .0 27 .8 81 .2 100 .0 100.0 100.0 100.0 100 .0 100.0 100.0 100 .0 100.0 100.0
------------------------ ------------------------ ------ ------ ------ ------ ------ ------ ------
2,113 .5 12,186 .5 5,484 .4 6,546 .0 3,950.6 41,487 .0 27,221 .2 7,467.3 100.0 100 .0 6,293.6 1,965 .0 100 .0 7,093.8 7,383.4
------------ ------ ------------ ------------ ------------------ ------ ------ ------ ------ ------
Increase (decrease) in cash (1,528 .9) 1,562 .3 1,691 .8 (480 .4) (1,759.5) (298 .1) 1,088.7 2,598.3 9,691 .7 13,070 .6 11,814.9 14,947 .2 17,926 .3 16,361 .9 16,131 .3
------------ ------ ------------ ------------ ------ ------------ ------ ------ ------------------
Cash (opening balance) 1,131 .1 (397 .8) 1,164 .5 2,856.3 2,375.9 616 .5 318.3 1,407.1 4,005 .4 13,697 .1 26,767.6 38,582.5 53,529 .8 71,456.1 87,818 .0
------ ------ ------ ------------ ------------ ------------------ ------ ------------ ------------
Cash (closing balance) (397.7) 1,164 .5 2,856 .3 2,375.9 616.5 318.3 1,407.1 4,005.4 13,697 .1 26,767.6 38,582.5 53,529.8 71,456 .1 87,818.0 103,949.3
---------------------------------------------------------------------------------------------------------------------------
Debt Service Ratio 2.0 0.4 1 .5 0.5 3 .6 1 .0 1 .3 1 .8 2.2 2.8 2 .8 2 .9 3.1 3 .2 3 .1
Self Financing Ratio - Annual 0.31 (1 .92) 0.24 (0 .36) (0 .16) 0.00 0 .03 0 .56 13 .68 17.54 1 .56 4 .50 17 .77 1 .83 1 .75
Self Financing Ratio - 5 YR AVE 0 .58 (1 .83) 0.28 (0 .15) (0.05) 0.01 0.04 0 .38 1 .04 2.62 4 .74 3 .16 2.54 3 .71 4 .27
H .
.HHYHHH.HH . F/M..Nw.f . .4~,HH+H~,'I, .4HR,MRHI,+WH,fN1NH.+„HHM+++HfNi+H+++HMH+1f++HiH+

f f
RUN (B) BALANCE SHEET 31 Dec . 31 Dec. 31 Dec . 31 Dec. 30 June 30 June 30 June 30 June
"""""'""'"' 1987 1988 1989 1990 1991 1991/92 1992/93 1993/94
(WSS'000) Yearend : Actual Actual Actual Actual Prov. Projections
- - - -- - - - - -- - - - - - - - - -- - - -- - -- - - -- - -- - - -- - -- - - -- - -- - - - - - -- - - -- - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -
ASSETS
Gross Fixed Assets
Less : Accum . Deprecation
Net Book Value 68,495.5 72,160 .8 94,425 .9 92,630 .4
Work In Progress 4,392.5 5,387 .0 8,621 .5 12,783.4
Net Fixed Assets
Intangible Assets
Current Assets
Cash/Deposits
Customer Accounts Receivable
Other Receivables
Accrued Revenue
Prepayments
Retund from GOWS/Other
Inventories
Total current assets
TOTAL ASSETS
EQUITY AND LIABILITIES
Equity
Government/Grants
General Reserves
Revaluation Reserve
Retained Earnings
Total Equity
Long Term Debt
Current Liabilities
Bank Overdraft
Sundry Creditors/Provisions
Interest Payable
Loans - Current Portion
Total Current Lebilites
TOTAL EQUITY AND LIABILITIES
Debt/Debt plus Equity
109,656.8 119,192.2 143,505 .7 142,148 .3 144,589.7 181,681 .9
41,161 .3 47,031 .3 49,079 .7 49,517.9 52,491 .1 57,067.1
------ ------ ------ ------ ------ ------
72,888.0 77,547 .8 103,047 .4 105,413 .8
475.3 381 .1 301 .0 178 .4
706.0 1,164 .5 3,059.3 2,375.9
453.7 422 .1 376 .4 615 .3
124.5 81 .1 199.2 168 .4
578.4 591 .0 5320 796 .9
156.7 63 .2 102 .9 166.1
1,076.8 318 .5 30 .7 76 .1
2,473.4 2,826 .8 3 .670.9 5,390 .9
------ ---- ------ ---
5,569 .4 5,467 .1 7,971 .4 9,589 .5
------ ------ ------ ------
78,932.7 83,396.1 111,319.8 115,181 .7
25,316 .8 15,238 .5 15,053 .0 20,125 .6
1,103 .8 0.0 203 .0 0 .0
541 .6 687 .5 837 .7 1,813 .9
625.3 43 .5 50.6 90 .6
1,190 .2 1,063 .0 1,114 .3 1,226.3
------ ------ ------ ------
3,460.8 1,794 .0 2,205 .6 3,130 .8
------ 78,932 .8 ------ 83,396 .1 ------ 111,319 .8 ------
115,181 .7
33.5% 18 .7% 13 .8% 18 .0%
92,098.6 124,614.8
21,500.0 49,050.1
------ ------
113,598.6 173,664.9
159.3 142.0
895.5 318.3
666.6 944.4
347.3 376.9
1,000.6 880.0
338.0 366.7
308.5 0.0
5,759 .9 6,249.5
------ ------
9,316.2 8,935.8
------ ------
123,074 .1 182,742.7
26,970 .4 45,716.4
279.0
1,200.8 1,632.1
2629 285.2
1,656.9 4,064 .1
------ ------
3,399.5 5,981 .4
------ 123,074.1 ------
162,742.7
22 .5% 25.9%
266,764 .1
291,268.6
63,031 .9 70,893 .0
------ ------
203,732.2 220,375.6
50 .1 50.1
------ ------
203,782.3 220,425.7
142.0 142 .0
58,711 .7 63,003.3
997 .1 463.0
303 .8 322.0
3,833.7 3,426.4
------ ------
5,134 .6 4,211 .4
------ 214,698.8 ------
234,735.7
28 .0% 27.3%
30 June 30 June
1994/95 1995/96
304,468 .8 317,8822
79,564 .8 88,715.7
------ ------
224,904 .0 229,166.5
50.1 50.1
------ ------
224,954 .1 229,216.5
142 .0 142.0
60,416 .1 57,269 .6 59,978.5
467 .8 591 .0 726.6
341 .3 360 .1 378.1
2,587 .2 3,146 .5 3,484.8
------ ------------
3,396.4 4,097 .6 4,589.5
------ ------ ------
249,786.7 267,862 .8 292,943.2
24 .5% 21 .7% 20.8%
30 June 30 June 30 June 30 June 30 June
1996/97 1997/98 1998/99 1999/2000 2000/01
340,333.1 357,713 .2 373,168 .1 399,224 .9 426,784.8
98,640.8 109,465.1 120,932.9 133,304 .5 146,954.5
------ ------ ------ ------ ------
241,692.3 248,248 .1 252,235 .2 265,920.4 279,830.3
50.1 50 .1 50 .1 50.1 50.1
------ ------ ------ ------ ------
241,742.4 248,298 .2 252,285 .2 265,970.5 279,880.4
142.0 142 .0 142 .0 142.0 142.0
1,407.1 4,005.4 13,697 .1 26,767 .6 38,582.5 53,529 .8 71,456 .1 87,818.0 103,949 .3
1,118.2 1,318.7 1,526 .4 1,690.8 1,864.2 2,055 .2 2,266 .1 2,497 .9 2,629.6
401 .3 425.4 451 .0 475.8 499.5 524 .5 550 .7 578.3 607.2
803 .7 949.5 1,099.0 1,217 .4 1,342.2 1,479 .7 1,631 .6 1,798.5 1,893 .3
390.5 414 .0 438 .8 4629 486.1 510 .4 535 .9 562.7 590.8
0 .0 0.0 0.0 0 .0 0.0 0 .0 0 .0 0 .0 0 .0
6,655 .7 7,055.0
------ ------
7,478 .3 7,889 .6
------ ------
8,284.1 8,698 .3 9,133 .3
------ ------ - -----
9,589.9 10,069 .4
------ ------
10,774.5 14,168.0 24,690 .6 38,504.2 51,058.7 66,797 .9 85,573 .6 102,845.3 119, 739.7
------ ------ ------ ------ ------ ------ ------ ------ ------
214,698 .8 234,735.6 249,786.7 267,862 .8 292,943.1 315,238 .1 338,000 .9 368,957.8 399 .762 .1
26,636 .7 37,574 .0 42,574 .0 43,842 .3 45,855.5 64,767.5 77,059 .7 77,385.9 77,385.9 77,385 .9 77,385.9 77,385 .9 77,385 .9 77,385.9 77,385.9
546.6 546.6 546 .6 546 .6 546 .6 546.6 746 .6 946.6 1,146.6 1,346 .6 1,546.6 1,746 .6 1,946 .6 2,146.6 2,346 .6
36,748 .9 41,431 .1 66,149 .4 67,950.5 66,649.1 89,100.7 96,166.3 108,809.4 121,241 .8 133,858.5 146,635.2 159,515 .4 173,893 .5 188,892.7 205,127.6
(13,777 .1) (13,188 .1) (15,208 .9) (20,414 .1) (20,347.1) (23,370.0) (23,120.1) (19,620.9) (13,600.1) (6,095.4) 2,807.4 12,622 .7 24,039 .9 36,513.0 47,382.8
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------------
50,155.1 66,363 .6 94,061 .1 91,925 .3 92,704 .1 131,044.9 150,852 .5 167,521 .0 185,974 .2 206,495 .6 228,375.2 251,270 .6 277,266 .0 304,938 .2 332,242 .9
59,147 .1 55,124 .4 58,133.7 61,183 .6
927 .7 1,170 .9 1,463.7 1,830 .5
397 .0 416 .9 437.7 459 .6
3,495 .7 4,022 .7 3,984.4 4,045 .4
------ ------------ ------
4,820 .4 5,610 .5 5,885.8 6,335 .6
315,238 .1 338,--000- .9- --368,--957-.8 399,762 .1
------ ------------------
-----------------------------------------------------------------------------------------------------------------------------
19.1% 16.6% 16 .0% 15.6%
fffff"MHfMfffMifffffffffffifffff Y.HfMfflffif flrHifffMf f fffYfffiHf f ffhMY,ffNf f fffffffffff f flrfH,MMMf fMMMfSMf f,HffMffNf MfMMfMff f hH,lMffMf NfHffifff f fffffMffff f ff fffffffff * Mf ffffff f f f ff fff fffff„

RUN (C)
Assumptions Tariff Increases to Achieve 8% RofR by
1997/98
Funding Shortfall : Afulilo met by EPC
Borrowings/Bond Issue
Loan Restructuring : Afulilo ADB/IDA
Principal Repayments Deferred to 1993/94
APPENDIX E

ELECTRIC POWER CORPORATION, WESTERN SAMOA
RUN (C) -Tariff Increases to achieve 8% ROIR by 30 June 1998
- Funding Shortfall in 1991/92 and 1992/93 Met By EPC Sonowings/Bond Issue FINANCIAL PROJECTIONS, 1990-2000 KEY FINANCIAL INDICATORS
+ w++,IwwwM*++wew+++Vwfefi+**+**H**ff****ww*ww**fw*ffi****+++++*+***+**++**M**M****++++++++++*+++4+++i±M* Mai*iMM** i*/,**+4+*4+4+++4****a****ww4**+4 ,J,+*+4+4++*++++* ww{,*w*w*w4+++ww*++++w+e+wwww+++*w+fe#wIr*}+Ir+++w
Year Ended 31 Dec . 31 Dec . 31 Dec . 31 Dec . 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
1987 1988 1989 1990 1991 1991/92 1992193 1993/94 1994195 1995/96 1996/97 1997/98 1998/99 199912000 2000101
(WSS'000) Actual Actual Actual Actual ProV Projections
--- -- - - - ---- - -------- ---- - -- - - -- - --- --- - ------ - -- - - -- - -- - - ------- --- -- - - --- ------- ---- --- ------ - -- - - -- - -- ---- - -- - - -- - -- - - --- -
Total energy sales (GWh) 33.6 37.0 38.0 36.9 20 .2 425 45.4 48 .6 51 .0 53.6 56 .3 59.1 62 .0 65 .1 65.3
Increase perannum (%) 6.8% 10.0% 2.7% -2.9% 9.5% 5.2% 6 .7% 7 .2% 5.0% 5 .0% 5.0% 5 .0% 5.0% 5.0% 0 .3%
Electricity Sales Revenue 9,481 .7 10,415.2 10,615.1 11,450.7 8,288 .4 17,000.0 20,091 .9 23,736 .6 27,475.6 31,652.6 36,293.6 41,612.1 45,882 .1 50 .576.1 53,243 .5
Average revenue/kWh (WS$) 0.28 0.28 0.28 0.31 0.40 0.40 0.44 0 .49 0.54 0 .59 0 .65 0 .70 0 .74 0.78 0 .82
Change in av. revenue (%) 0.0% 0.0% 0.0% 11 .1% 28.9% 0.0% 10 .8% 10.2% 10 .2% 9.7% 9.2% 9 .2% 5.0% 5.0% 5 .0%
Net Op. tlng Income 760.2 959.5 (711 .0) (3,315 .9) (811 .2) (1,002.4) 4,741 .0 9,343 .8 11,688.9 14.402.4 17,136 .5 20,016 .6 21,920 .8 23,507 .8 22,539.3
Net Profl/( Loss) (916.7) 518.5 (2,128.8) (5,228.3) (96 .1) (3,022,9) 249.9 3,499 .1 5,820.9 8.873.4 11,531 .5 14,249.5 16,306 .6 17,862 .7 16,543.5
Internal Cash GeneratIon 4,428.9 4 .530.4 4,505.6 940.4 1,457 .1 2,973 .6 10,705.8 17,204 .8 20,360.6 23,553.4 27,061 .5 30,840.9 33,388 .6 35,879.3 36,189 .3
Debt Service : Interest 815.4 766.9 844 .1 806.7 352 .1 1,420 .5 4,491 .1 5,844 .5 5,868.0 5,529.0 5,605 .0 5,767.0 5 .814 .2 5,645.1 5,995 .7
Principal 967 .3 11,134.2 1,942.1 1,199.1 57 .0 1,856 .9 4,064.1 3,833 .7 3,426.4 2,567.2 3,146 .5 3,484 .8 3 .495 .7 4,022.7 3,984 .4
Total 1,782.7 11,901 .0 2,786.2 2,005.8 409.0 3,077 .3 8,555.2 9,878 .2 9,294.4 8,116.2 8,751 .5 9,251 .8 9 .109 .8 9 .667.8 9,980 .2
Capital Expendlure 5,446.8 3,768.6 5,391 .5 5,175.6 5,054 .4 42,016 .0 26,998.2 11,166 .3 748.4 777 .9 9,658.2 3,681 .6 1 .056 .9 11,036.8 11 .491 .2
Financed By: Loans 978.5 1,242.8 424.4 5,249.9 4,329 .2 22,475.0 14,899.0 7,041 .1 0.0 0 .0 6 .193.6 1,665.0 0.0 6,993.8 7,283 .4
Grants 1,134 .9 10,937 .3 5,040.0 1,268 .3 (459 .7) 18,912 .0 12,292.2 326 .2 0.0 0 .0 0.0 0.0 0 .0 0.0 0 .0
:00er 0.0 6.4 20.0 27 .8 81 .2 100.0 100.0 100.0 100.0 100.0 100 .0 100 .0 100 .0 100 .0 100.0
Total 2,113 .5 12,188 .5 5,484 .4 6,546 .0 3,950 .6 41,487 .0 27,221 .2 7,487.3 100.0 100.0 8,293 .6 1,965 .0 100 .0 7,093 .8 7,383.4
Cash (closing balance) (397 .7) 1,164 .5 2,856.3 2,375 .9 616 .5 316 .3 1,407.1 4,005 .4 13,897.1 27,820.0 42,118 .2 61,320.0 84,090 .4 105,792.1 127,568 .9
Rate Base - Revalued 34248 70325 83293 93528 92364 106357 164174 212054 222640 227035 235429 244970 250242 259078 272875
Rate of Return 2.3% 1 .4% -0.9% -3.5% -0.9% -1 .5% 2 .9% 4 .4% 5.3% 6 .3% 7.3% 8 .2% 8 .8% 9.1% 8 .3%
Debt Service Ratio 2.0 0.4 1 .5 0.5 3 .6 1 .0 1 .3 1 .8 22 2.9 3 .1 3.3 3 .7 3.7 3 .6
Self Financing Ratio - Annual 0.31 (1 .92) 0 .24 (0.36) (0 .16) 0 .00 0.03 0 .56 13.68 18.90 1 .82 5 .65 22 .35 2 .31 2 .24
Self Financing Ratio - 5 YR AVE 0.58 (1 .83) 0 .26 (0.15) (0 .05) 0 .01 0.04 0 .38 1 .04 2.82 5.51 3 .97 3 .20 4 .68 5 .47
Debt/Debt plus Equity 33 .5% 18 .7% 13 .8% 18 .0% 22 .5% 25 .9% 28.0% 27 .3% 24.5% 21 .8% 20.5% 18.6% 19 .0% 15.2% 14 .7%

ELECTRIC POWER CORPORATION, WESTERN SAMOA
------------------------
FINANCIAL PROJECTIONS, 1991/2-2000/1
RUN (C)
**++*****.#.*f.f .rrr*r.r.rfrrarr .rf .~HraHrN*** Ha*******rHH* . A.*.arR.Mia*Ms*"aaFMMi.rr _ .._f S .MrrlirMr..MSHirii"rr*riN.riii**.i*ra.MiM"*" ..y,r„r *** .* .fl.r ., n1.."r..,1V.*»4f"rrf.*r .trMHfHr*-
REVENUE AND EXPENDITURE 31 Dec . 31 Dec . 31 Dec . 31 Dec. 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
** 1987 1988 1989 1990 1991 1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997/98
(WS$ '000) Actual Achal Actual Actual Prov. ProJectk)ns
- - - - - - - - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - -
30 June 30 June 30 June
1998/99 1999/2000 2000101
- - - - -- - - - - - -- - - - - - -
Total energy generation (GWh)
System losses (%)
Total energy sales IGWh)
Increase perannum (%)
40.2
16.4%
33 .6
6.8%
43 .0
13.9%
37 .0
10.0%
44 .0
13.6%
38 .0
2.1%
42 .0
12.2%
38 .9
-29%
23 .9
15.3%
20 .2
9.5%
50 .1
15.2%
42 .5
5 .2%
529
14 .3%
45 .4
6 .7%
55.4
12 .3%
48.6
7.2%
58 .0
12.0%
51 .0
5 .0%
60.7
11 .7%
53 .6
5.0%
63.5
11 .4%
56.3
5.0%
66 .5
11 .2%
59 .1
5 .0%
69.6
10 .9%
62.0
5.0%
72 .9
10 .7%
65 .1
5 .0%
76 .5
14 .6%
65.3
0 .3%
Average revenue/kWh (WSS) 0 .28 0 .28 0.28 0 .31 0 .40 0.40 0 .44 0.49 0 .54 0,59 0.65 0 .70 0.74 0.78 0.82
Change In ex. revenue (%) 0.0% 0 .0% 0 .0% 11 .1% 28 .9% 0 .0% 10 .8% 10.2% 10 .2% 9.7% 9.2% 9 .2% 5.0% 5 .0% 5 .0%
OPERATING REVENUE :
Electricky, sales 9,461,7 10,415.2 10,615.1 11,450.7 8,288.4 17,000.0 20,091 .9 23,736.6 27,475.6 31,652 .8 38,293 .6 41,612 .1 45,882 .1 50,576.1 53 .243 .5
Lees :Discount 379.7 404.7 416.6 437.5 319 .6 680.0 803.7 949.5 1,099.0 1,266.1 1 .451 .7 1,664 .5 1,835 .3 2,023.0 2,129 .7
------------ ------ ------------ ------------ ------ ------ ------ ------ ------ ------ ------ ------
NetElectricity sales 9,082.0 10,010.5 10,198.5 11,013.2 7,968.8 16,320.0 19,288.2 22 .787 .1 26,378.6 30,386.5 34,841 .8 39,947 .6 44,046 .8 48,553.1 51,113 .8
Other Revenue ( Net) 236.0 151 .7 716.3 980.0 336.0 382.8 407.7 432 .2 458.1 483.3 507 .5 532.8 559 .5 587.4 616 .8
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
9,318.0 10,162.2 10,914 .9 11,993.2 6,304.8 16,7028 19,895.9 23,219 .3 26,834 .7 30,869.8 35,349.3 40,480.4 44,606 .3 49,140 .5 51,730 .6
:
OPERATING COSTS
Fuel
Generation
Dlstributiorl/Sales
Adminiebatlon
Depreciation
2,989.2
880.8
295.2
723 .9
3,648 .7
2,844 .7
1,327 .2
430.0
715 .7
3,855 .0
3,947 .5
1,636 .9
541 .1
820 .3
4,677 .0
5,815 .1
3,341 .0
524 .5
920 .0
4,708 .6
4,149.4
1,841 .0
378.2
531 .3
2,218.3
8,418.5
3,521 .6
741 .1
1,048.1
4,576.0
5,150 .2
1,934 .4
789 .3
1,116 .2
5,964 .8
2,390 .1
1,604.6
836.6
1,183.2
7,861 .1
2,413 .7
1,919 .4
886 .8
1,254 .2
8,671 .7
3,047.5
2,010.2
935.6
1,323.1
9,150.9
3,742.5
2 .173.6
982.4
1,389.3
9,925.1
4,773.2
2,376.1
1,031 .5
1,458.8
10,824 .3
6,018 .4
2,584,5
1,083 .1
1,531 .7
11,467 .8
7,515 .4
3,000 .3
1,137 .2
1,608 .3
12,371 .6
9,389 .7
3,268 .8
1,194 .1
1,688 .7
13,650 .1
NET OPERATING INCOME
------------------ ------------------------------------------------ ------ ------ ------ ------
8,537 .8 9,202 .7 11,625 .8 15,309 .1 9 .118.1 18,305.2 14,954 .9 13,875.7 15,145 .8 16 .467.4 18,212 .8 20,463.9 22,685 .5 25,632 .8 29,191 .3
------------ ------------------------------------------------------------------------------
780 .2 959 .5 (711 .0) (3.315.9) (811 .2) (1,6024) 4,741 .0 9,343.6 11,688.9 14,402.4 17,136 .5 20,016 .6 21,920.8 23,507 .8 22 .539.3
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ -------
INTERESTEXPENSE 824 .5 781 .0 848.2 842.5 354 .3 1,420 .5 4,491 .1 5,844.5 5,668.0 5,529.0 5,605 .0 5,767 .0 5,614 .2 5,645 .1 5,995.7
NET INCOME (44 .3) 178.5 (1,559.2) (4,158.4) (1,185 .5) (3,022 .9) 249.9 3,499.1 5,820.9 8,873.4 11,531 .5 14,249 .5 16,306.6 17,862 .7 16,543.5
------ ------- ------- ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------
EXTRAORDINARY ITEMS 872.4 (340.0) 569.6 1,069.9 (1 .067 .4) 0 .0 0.0 0.0 0 .0 0.0 0 .0 0 .0 0 .0 0 .0 0.0
NET PROFIT/(LOSS) (916.7) 518.5 (2,128.8) (5,228.3) (96 .1) (3,022 .9) 249.9 3,499 .1 5,820.9 8,873 .4 11,531 .5 14,249 .5 16,306 .6 17,862.7 16,543 .5
------- ------------------- --- - --- -------------- --- - --- -------------- -------------- ------- ------- -- ---- - -- - - ------- ------- -- - -
Rate Base (average net
revalued plant in service)
34248 70328 83293 93526 92364 108357 164174 212054 222640 227035 235429 244970 250242 259078 272875
Rate of Return 2.3% 1 .4% -0.9% -3.5% -0 .9% -1 .5% 2.9% 4 .4% 5.3% 6 .3% 7 .3% 8 .2% 8.8% 9 .1% 8 .3%
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.
SOURCES & APPLICATIONS
. .r ..» r.r
31 Dec .
1987
31 Dec .
1988
31 Dec
1989
31 Dec.
1990
30 June
1991
30 June
1991/92
30 June
199293
30 June
1993/94
30 June
1994/95
30 June
1995196
30 June
1996/97
RUN (C) (WS$'000)
Actual Actual Actual Achal Prov. Pro)sctions
---------- -------------------------------------------------------------------------------------
2,113 .5 12,186.5 5,484 .4 6,546.0 3,950 .6 41,487.0 27,221 .2 7,467 .3 100.0 100.0 6,293 .6 1,965.0 100 .0 7,093 .8 7,383 .4
------------------------------------------------------------------------------------------
» ee»e»»» .» w.ee ..r r ».&A rreeeer » .r.».r. .r»r....»» . e.e .ererre. . » er . .ee .. .r.r ».a.r . .a...»a...rrrrr r »»»e»e . a rr »
30 June
1997/98
30 June
1998/99
30 June
193912000
30 June
2000101
- ------------ - -
Internal Cash Generation
Net Income Before Interest 700.2 959,5 (711 .0) (4,888 .2) 256.2 (1,6024) 4,741 .0 9,343.6 11,688.9 14,402.4 17,136.5 20,016 .6 21,920.8 23,507 .8 22.539 .3
Add : Deprecation 3,648.7 3,685.0 4,677 .0 4,708 .6 2,216.3 4,576.0 5,964.8 7,861 .1 8,671 .7 9,150.9 9,925.1 10,824 .3 11,467.8 12,371 .6 13,650 .1
Other Non Cash Items 0 .0 (314 .2) 539 .5 1,097 .9 (1,015.3) 0.0 0 .0 0.0 0.0 0 .0 0 .0 0.0 0 .0 0.0 0 .0
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ -----
4,426.9 4,530.4 4,505 .6 940 .4 1,457.1 2,973.8 10,705.8 17,204.8 20,360.6 23,553 .4 27,061 .5 30,840 .9 33,388 .6 35,879.3 36,189 .3
Customers Capital Contributions 94.7 64 .2 61 .4 19 .4 163.4 100.0 100.0 100.0 100.0 100 .0 100 .0 100 .0 100 .0 100.0 100 .0
Operating Requirements
Debt Repayments
Interest 815.4 768.9 844 .1 800.7 352.1 1,420.5 4,491 .1 5,844.5 5,868.0 5,529 .0 5,605 .0 5,767 .0 5,614 .2 5.845.1 5,995 .7
Principal 967.3 11,134.2 1,042.1 1,199.1 57.0 1,656.9 4,064 .1 3,633.7 3,426.4 2,567 .2 3,148 .5 3,484.8 3,495 .7 4,022 .7 3,984 .4
------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
1,782 .7 11,901 .0 2,786.2 2,005.8 409.0 3 .077.3 6,555.2 9,678 .2 9,294.4 8,116 .2 8,751 .5 9,251 .8 9,109 .8 9.667 .8 9,980.2
Increase (decrease) in
Working Capital 936 .5 (124 .9) 452.2 804 .7 1,867 .2 (234.6) 1,385 .0 1,329 .2 826.1 736 .2 749 .3 770.6 651 .5 666 .8 424 .6
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Total Operating Requirements 2,719.2 11,776.1 3,238.4 2,810.5 2,276 .2 2.842.7 9,940 .2 11,007.5 10,120.5 8,852 .5 9,500 .8 10,022.3 9,761 .3 10,334 .6 10,404 .7
------ ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------
FUNDS AVAILABLE FROM OPERAT 1,804 .5 (7,181 .6) 1,326.6 (1,850.8) (655 .7) 230.9 665 .7 6,297 .3 10,340.1 14,900 .9 17,660 .8 20,918.5 23,727 .3 25,644 .7 25,884 .6
------ ------- ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ ------
Capital Expenditure Etc .,
Construction progmmme plus IDC 5,446 .6 3,768.6 5,391 .5 5,175.6 5,054 .4 42,016.0 28,998 .2 11,166 .3 748.4 777 .9 9,656 .2 3,681 .6 1,056 .9 11,0.'36 .6 11,491 .2
------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Finance Required (3,642 .3) (10.950.2) (4,062.9) (7,028.4) (5,710 .1) (41,785.1) (28.132 .5) (4,869 .0) 9,591 .7 14,022 .9 8,004 .6 17,2.'36.9 22 .670 .4 14.607 .9 14,393.4
------ ------ ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------
Financed By :
Loans 978 .5 1,242.8 424 .4 5,249.9 4 .329 .2 22,475.0 14,829 .0 7,041 .1 0 .0 0.0 6,193 .6 1,865.0 0.0 6,993 .8 7,283.4
Grants 1134 .9 10,937.3 5,040.0 1,268.3 (459 .7) 16,9120 12,292 .2 326 .2 0 .0 0.0 0.0 0 .0 0.0 0.0 0 .0
Other 0 .0 6 .4 20.0 27.8 81 .2 100.0 100 .0 100 .0 100.0 100 .0 100 .0 100.0 100 .0 100 .0 100 .0
------------------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Increase (decrease) in cash
Cash (opening balance)
Cash (closing balance)
------------------ --
(1,528 .9) 1,562.3 1,691 .8 (480.4) (1,759 .5) (298.1) 1,066 .7 2.598 .3 9.891 .7 14,122.9 14,298 .2 19,201 .8 22,770 .4 21,701 .7 21,776 .8
------------------------------------------------------------------------------------------
1,131 .1 (397.8) 1,164.5 2,856.3 2,375 .9 616.5 318.3 1,407 .1 4,005 .4 13,697.1 27,820.0 42,118.2 61,320.0 84,090 .4 105,792 .1
------------------------ ------------------------------------------------------------------
(397 .7) 1,164.5 2,856.3 2,375.9 616.5 318.3 1,407.1 4,005 .4 13,097 .1 27,820.0 42,118.2 61,320.0 84,090.4 105,792 .1 127,568 .9
------
---------------------------------------------------------------- -------------
Debt Service Ratio 2.0 0 .4 1 .5 0 .5 3.6 1 .0 1 .3 1 .8 2.2 2 .9 3 .1 3 .3 3 .7 3 .7 3,6
Self Financing Ratio - Annual 0.31 (1 .92) 0.24 (0 .36) (0.16) 0.00 0.03 0.56 13 .66 18 .90 1 .82 5,65 22 .35 2.31 2 .24
Self Financing Ratio - 5 YR AVE 0.58 (1 .83) 0.26 (0 .15) (0 .05) 0.01 0.04 0.38 1 .04 2 .82 5 .51 3 .97 3 .20 4 .68 5 .47

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. RUN (C) BALANCE SHEET 31 Dec .
rrrrr+rrr rrrrrrrrrarrr
1987
(WS$'000) Yearend :
Actual
-------------------------
31 Dec .
1988
Actual
31 Dec
1989
Actual
31 Dec .
1990
Actual
30 June
1991
Prov.
30 June 30 June
1991/92 1992/93
Projections
30 June
1993/94
30 June
1994/95
30 June
1995/96
30 June
1996/97
30 June 30 June 30 June
1997/98 1998,199 1999/2000
30 June
2000/01
ASSETS
Gross Fixed Assets
Less : Accum . Depreciation
109,658 .8 119,192 .2 143,505 .7 142,148.3 144,589.7 181,681 .9 266,764.1 291,268.6 304,468.8 317,882.2 340,333 .1 357,713 .2 373,168 .1 399,224 .9 426,784 .8
41,161 .3 47,031 .3 49,079 .7 49,517.9 52,491 .1 57,067 .1 63,031 .9 70,893.0 79,564.8 88,715.7 98,640 .8 109,465 .1 120,932 .9 133,304 .5 146,954 .5
------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------- ------ ------- ------
Net Book Value
Work In Progress
68,495 .5 72,180.8 94,425 .9
4,392 .5 5,387 .0 8,621 .5
------ ------ ------
92,630.4 92,098.6 124,614 .8
12,783.4 21,500.0 49,050 .1
------ ------ ------
203,732.2 220,375.6 224,904.0 229,166.5 241,692 .3
50.1 50.1 50.1 50.1 50 .1
------ ------ ------ ------ ------
248.248 .1 252,235 .2 265,920 .4 279,830 .3
50 .1 50 .1 50 .1 50 .1
------ ------ ------ ------
Net Fixed Assets
72,888 .0 77,547 .8 103,047 .4 105,413.8 113,598.6 173,664 .9 203,782.3 220,425.7 224,954.1 229,216.5 241,742 .4 248,298 .2 252,285 .2 265,970 .5 279,880 .4
Intangible Assets 475 .3 381 .1 301 .0 178.4 159.3 142 .0 142.0 142.0 142.0 142.0 142 .0 142 .0 142 .0 142 .0 142 .0
Current Assets
Cash/Depoelts
Customer Accounts Receivable
Other Receivebles
Accrued Revenue
Prepayments
Refund from GOWS/Other
Inventories
706 .0 1,164 .5 3,059 .3
453 .7 422 .1 376 .4
124 .5 81 .1 199 .2
578 .4 591 .0 532.0
156.7 63.2 102 .9
1,076.8 316.5 30 .7
2,473 .4 2,826 .8 3,670 .9
----- ------ ------
2,375.9 895.5 318,3
615.3 666.6 944 .4
168.4 347.3 376 .9
796.9 1,000.6 680 .0
166.1 338.0 366 .1
76.1 306.5 0.0
5,390.9 5,759.9 8,249 .5
------ ------ ------
1,407.1 4,005.4 13,697.1 27,820.0 42,118 .2 61,320 .0 84,090.4 105,792 .1 127,568 .9
1,116 .2 1,318.7 1,526.4 1,758.5 2,016 .3 2,311 .8 2,549 .0 2,609 .8 2,958 .0
401.3 425.4 451 .0 475.8 499.5 524 .5 550 .7 578 .3 607 .2
803.7 949.5 1,090.0 1,268.1 1,451 .7 1,664 .5 1,835.3 2,023 .0 2,129 .7
390.5 414 .0 438.8 4629 488.1 510 .4 535 .9 562 .7 590 .8
0 .0 0.0 0.0 0.0 0.0
0 .0 0.0 0.0 0 .0
6,655 .7 7,055.0 7,478.3 7,889.6 8,264 .1 8,698 .3 9,133.3 9,589 .9 10, 089 .4
------ ------ ------ ------ ------ ------ ------ ------ ------
Total current assets
5,569 .4 5,467 .1 7,971.4 9,589.5 9,318.2 8,935 .8 10,774.5 14,168.0 24,890.6 39,672.9 54,856.0
------------------------------------------ ------------
75,029 .5 98,694 .6 121,355 .9 143,924 .1
------------ ------ ------
TOTAL ASSETS
78,932.7 83,396 .1 111,319.8 115,181 .7 123,074 .1 182,742 .7 214,698.8 234,735.6 249,786.7 269,031 .5 296,740.4 323,489 .7 351,121 .9 387 .468 .4 423 .946 .5
EQUITY AND LIABILITIES
Equity
Govemmertt/Gmnts
General Reserves
Revaluation Reserve
Retained Earnings
Total Equity
Long Term Debt
Current Liabilities
Bank Overdmft
Sundry Creditors/Provisions
Interest Payable
Loans - Current Portion
Total Current Lebilites
TOTAL EQUITY AND LIABILITIES
26,838 .7 37,574 .0 42,574 .0 43,8423 45,855.5 64,767 .5 77,059.7 77,385.9 77,385.9 77,385.9 77,385.9 77,385 .9 77,385.9 77,385 .9 77,385 .9
546 .6 546 .6 546 .6 548.8 546.8 546 .6 746.6 946,6 1,146.6 1,346.6 1,546.6 1,746 .6 1,946.6 2,146 .6 2,346 .6
36,748 .9 41,431 .1 86,149 .4 67,950.5 86,649.1 89,100,7 96,166 .3 108,809.4 121,241 .8 133,856.5 146,635.2 159,515 .4 173,893.5 188,892 .7 205,127 .8
(13,777 .1) (13,188 .1) (15,208 .9) (20,414.1) (20,347 .1) (23,370 .0) (23,120.1) (19,620.9) (13,800.1) (4,926.7) 6,604 .7 20,854 .3 37,160.9 55,023 .6 71 .567 .1
------ ------ ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------
50,155 .1 86,363 .6 94,061 .1 91,925.3 92,704 .1 131,044 .9 150,852.5 167,521 .0 185,974.2 207,664.3 232,172.5 259,502 .2 290,387 .0 323,448 .8 356,427 .3
25,316 .8 15,238 .5 15,053 .0 20,125.6 26,970.4 45,716 .4 58,711 .7 63,003.3 60,416.1 57,269.6 59,978.5 59,147 .1 55,124 .4 58,133 .7 61,183 .6
1,103 .8 0.0 203 .0 0 .0 279.0
541 .6 687 .5 837.7 1,813.9 1,200.8 1,632 .1 997,1 463.0 467.8 591 .0 726.6 927 .7 1,170.9 1,463 .7 1,830 .5
625 .3 43 .5 50 .6 90.6 262.9 285 .2 303.8 322.0 341 .3 360.1 378.1 397 .0 416.9 437 .7 459 .6
1,190 .2 1,063 .0 1,114 .3 1,226.3 1,656.9 4,064 .1 3,833.7 3,428.4 2,587.2 3,146.5 3,484 .8 3,495 .7 4,022.7 3,984 .4 4,045 .4
------ ------------------------------------------------ ------------------------------ ------
3,480 .8 1,794 .0 2,205 .6 3,130.8 3,399.5 5,961 .4 5,134.6 4,211 .4 3,396.4 4,097.6 4,589.5 4,820 .4 5,610.5 5,885 .8 6,335 .6
------------ ------------------------ ------------------ ------ ------ ------ ------ ------ ------
78,932 .8 83,396 .1 111,319 .8 115,181 .7 123,074 .1 182,7427 214,698 .8 234,735.7 249,786.7 269,031 .5 296,740.5 323,469 .7 351,121 .9 387,468,3 423,946 .5
--3--L S-S --iC-S -3T-C-0 S-C SS- --^ SL3C '-^-^-'-
- - - - - - - - - - - - - - - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -
Debt/Debt plus Equity 33.5% 18.7% 13 .8% 18 .0% 22.5% 25.9% 28 .0% 27 .3% 24 .5% 21 .6% 20 .5% 18.6% 16 .0% 15.2% 14 .7%
w rw .www+ +w w+ww+,..ww.++wwM. .+w...#. . ..*...ra+++++++++w+++++++a+ .+r+a+a+a++a .+r+++++++++.++++++++r+++a++++++aM++++++++++a++++++++++++++a .+++++++++++ +++ .r+..+r. .+r.rr .++ .+a++r.. .++r++++

RUN (D)
Assumptions - Tariff Increases to Achieve 5% RofR by
1994/95
Funding Shortfall : Afulilo met by EPC
Borrowings/Bond Issue
Loan Restructuring : Afulilo ADB/IDA
Principal Repayments Deferred to 1993/94
APPENDIX E
Proposed Contract Operating and Maintenance
Expenses included as EPC Operating Expenses

ELECTRIC POWER CORPORATION, WESTERN SAMOA
RUN ( D) - Tariff Increases to achieve 5% ROfR by 30 June 1995
- Funding Shortfall in 1991/92 and 1992/93 Met By EPC Borrowings/bond Issue
- Contract Opeiationa and Maintenance Costs met by EPC from 1992/93 Year
FINANCIAL PROJECTIONS, 1991/2-2000/1 KEY FINANCIAL INDICATORS
.
Year Ended
31 Dec 31 Dec. 31 Dec . 31 Dec . 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
1987 1988 1989 1990
1991 1991/92 1992/93 1993194 1994/95 1995/96 1996/97 1997/98 1998/99 1999/2000 2000/01
(WSS'000)
Actual Actual Acttml Actual Prov. Projections
- - - - - - - - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - - - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -
Total energy sales (GWh) 33 .6 37.0 38.0 36.9 20.2 42.5 45 .4 48.6 51 .0 53.6 56 .3 59.1 62.0 65 .1 65.3
Increase porannum (%) 6.8% 10 .0% 2 .7% -29% 9.5% 5 .2% 6.7% 7 .2% 5.0% 5 .0% 5 .0% 5 .0% 5.0% 5.0% 0 .3%
Electricity Sales Revenue 9,461 .7 10,415.2 10,615.1 11,450.7 8,288.4 17,000,0 20,091 .9 23,736.6 27,475.6 30,435.2 33,555 .4 36,993.0 40,789.0 44,962 .0 47,333.3
Average revenue/kWh (WSS) 0 .28 0 .28 0 .28 0.31 0.40 0 .40 0 .44 0.49 0.54 0 .57 0 .60 0.63 0 .66 0,69 0.72
Change in av. revenue (%) 0.0% 0 .0% 0 .0% 11 .1% 28.9% 0 .0% 10.8% 10 .2% 10.2% 5 .5% 5 .0% 5 .0% 5-0% 5.0% 5 .0%
Net Operating Income 780 .2 959.5 (711 .0) (3,315.9) (811 .2) (1,6024) 4,147 .4 8,545.8 10,843.1 12,341 .5 13,571 .0 14,598.5 15,998.5 17,033 .7 15,726.7
Net Profit'( Loss) (916 .7) 518.5 (2 .128.8) (5.228.3) (98.1) (3,022.9) (343 .8) 2701 .3 4,975.1 6,8124 7,966.0 8,831 .5 10,384 .4 11,388 .6 9,731 .0
Internal Cash Generation 4,428 .9 4,530.4 4,505.6 940.4 1,457 .1 2,973.6 10,112.2 16,408.9 19,514.9 21,492.4 23,496.1 25,422.8 27,466.4 29,405 .2 29,376.8
Debt Service : Interest 815 .4 766.9 644.1 806.7 352.1 1,420.5 4,491 .1 5,644.5 5 .866.0 5,529.0 5,605.0 5,767.0 5,614 .2 5,645 .1 5,995.7
Principal 967.3 11,134.2 1,942.1 1,199.1 57 .0 1,656.9 4,064 .1 3,833.7 3,426.4 2,587.2 3,146.5 3,484.8 3,495.7 4,022 .7 3,984 .4
Total 1,7827 11,901 .0 2,786.2 2,005,8 409 .0 3,077.3 8,555 .2 9,678.2 9,294.4 8.116.2 8,751 .5 9,251 .8 9 .109.8 9,667 .8 9,980.2
Capital Expendkure 5,446 .8 3,768.6 5,391 .5 5,175.6 5,054 .4 42,018.0 26,996 .2 11,166.3 748.4 777.9 9,656.2 3,681 .6 1,056.9 11,036 .8 11,491 .2
Financed By : Loans 978.5 1,242.6 424 .4 5,249.9 4,329 .2 22,475.0 14,829 .0 7,041 .1 0.0 0.0 6,193.6 1,865.0 0.0 6,993 .8 7,283 .4
Giants 1 .134.9 10,937.3 5,040.0 1,268.3 (459 .7) 18,912.0 12,292.2 326.2 0.0 0.0 0 .0 0.0 0.0 0,0 0 .0
:Other 0 .0 6.4 20.0 27.8 81 .2 100.0 100 .0 100.0 100.0 100.0 100.0 100.0 100.0 100 .0 100.0
Total 2,113.5 12,166.5 5,484 .4 6,546.0 3,950 .6 41,487.0 27,221 .2 7,467.3 100.0 100.0 6,293.6 1,965.0 100.0 7,093 .8 7,383.4
Cash (closing balance) (397.7) 1,164.5 2,856.3 2,375.9 616 .5 318.3 813 .4 2,613.8 11,459.8 23,638.2 34,516.2 48,479.8 65 .373.2 80,650 .6 95,643.2
Rate Base - Revalued 34248 70328 83293 93528 92364 106357 164174 212054 222640 227035 235429 244970 250242 259078 272875
Rate of Return 2 .3% 1 .4% -0.9% -3.5% -0.9% -1 .5% 2 .5% 4.0% 4.9% 5.4% 5 .8% 6.0% 6.4% 6.6% 5.8%
Debt Service Ratio 2 .0 0.4 1 .5 0.5 3.6 1 .0 1 .2 1 .7 2.1 2.8 2.7 2.7 3.0 3 .0 2.9
Self Financing Ratio - Annual 0.31 (1 .92) 0.24 (0.36) (0.16) 0.00 0.01 0.48 12.55 16.40 1 .46 4.23 16 .79 1 .73 1 .65
Sell Financing Ratio - 5 YR AVE 0.58 (1 .83) 0.26 (0.15) (0.05) 0.01 0 .01 0.33 0.95 2.45 4.44 2.97 2.40 3.51 4 .03

ELECTRIC POWER CORPORATION, WESTERN SAMOA
-------------------------------
FINANCIAL PROJECTIONS
RUN (D)
rrrrrwrrrrwwrrrr+,rrrrrrrrrrrrrrrrrrrrrrrrrrrrr .rrrrrr.rrrrrrrrrrrrrrrrrrrrrrrrrwrrrarrrrrrrrrrarrraaaaarrrrrrrarrrrrrrrrrrr r.r.r.rrrrrrrrrrr .rr.rr.r r..rrr .arrr .rrrrrrrrrra .wrrrrr .rrr
REVENUE AND EXPENDITURE
.. . ....... . .. .. . . . . . . . . . .
(WSS'000)
31 Dec .
1987
Actual
31 Dec .
1988
Actual
31 Dec.
1989
Actual
31 Dec .
1990
Actual
30 June
1991
Prov.
30 June 30 June
1991/92 1992193
Projections
reran.tram+r+rrrrrrrsrrrrrrrrrrrrwrrrrrrrrrrrrerrr .rrrrrrrrrrrrrrr+rwrrr+++r++tram+rrrrrr+rrrrrrrrnawrrrrrrrrrrrrrrrrrrrra,rrrarrrrrrr++r+rrrrrrrrraarrrrrrrrrrarrrr r r rr. . .arrrrr
30 June
1993/94
30 June
1994/95
30 June 30 June
1995/96 1996/97
30 June
1997198
30 June 30 June
1998/99 1999/2000
----' ----- --------- •
Total energy generation (GWh) 40.2 43 .0 44 .0 42.0 23 .9 50.1 52.9 55.4 55 .0 60.7 63 .5 66.5 69 .6 72.9 76 .5
System losses (%) 16.4% 13 .9% 13.6% 12.2% 15.3% 15.2% 14.3% 123% 12.0% 11 .7% 11 .4% 11.2% 10.9% 10 .7% 14 .6%
Total energy sales (GWh) 33.6 37.0 38 .0 36.9 20.2 425 45 .4 48.6 51 .0 53.6 56 .3 59.1 62 .0 65.1 65.3
Increase perannum (%) 6.8% 10 .0% 2 .7% -2.9% 9 .5% 5 .2% 6.7% 7.2% 5.0% 5 .0% 5.0% 5.0% 5.0% 5 .0% 0 .3%
Average revenue/kWh (WS$) 0.28 0 .28 0 .28 0.31 0.40 0.40 0.44 0 .49 0.54 0 .57 0 .60 0 .63 0.66 0 .69 0 .72
Change In av. revenue (%) 0 .0% D .0% 0 .0% 11 .1% 28 .9% 0 .0% 10.8% 10.2% 10.2% 5 .5% 5.0% 5.0% 5.0% 5 .0% 5 .0%
OPERATING REVENUE :
Electricity sales 9,461 .7 10,415.2 10,615 .1 11 .450.7 8,288.4 17,000.0 20,091 .9 23,736.6 27,475.6 30,435.2 33,555 .4 36,993.0 40,789 .0 44,962.0 47,333 .3
LeswDiscount 379.7 404 .7 418 .6 437.5 319 .8 680.0 803.7 949.5 1,099 .0 1,217.4 1,342.2 1,479.7 1,631 .6 1,798.5 1,893 .3
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Net Electricity sales 9,082.0 10,010.5 10,198 .5 11,013.2 7,968.8 16,320.0 19,288.2 22,787.1 26,376 .6 29,217.8 32,213.2 35,513.3 39,157 .5 43,163.5 45,440 .0
Other Revenue (Net) 236.0 151 .7 716 .3 980.0 336.0 3828 407 .7 432.2 458.1 483.3 507 .5 532.8 559,5 587.4 616 .8
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
9,318.0 10,182.2 10,914 .9 11,993.2 8,304.8 16,702.8 19,695.9 23.219,3 26,834 .7 29,701 .1 32,720 .7 36,046.1 39,717 .0 43,750 .9 46,056 .8
OPERATING COSTS :
Fuel 2,989.2 2,844.7 3,947 .5 5,815.1 4,149.4 8,418 .5 5,150 .2 2,390.1 2,413 .7 3,047.5 3,742 .5 4,773.2 6,018 .4 7,515.4 9,389 .7
Generation 880.6 1,327.2 1,636 .9 3,341 .0 1,841 .0 3,521 .6 2,528 .1 2,402.5 2,765 .1 2,902.5 3,110 .4 3,359.8 3,617 .4 4,084 .8 4,407 .5
Distribution/Sales 295.2 430.0 544 .1 524.5 378 .2 741 .1 789 .3 836.6 886 .8 935.6 982 .4 1,031 .5 1,083 .1 1,137.2 1 .194 .1
Administration 723.9 715.7 820 .3 920.0 531 .3 1,048 .1 1,118 .2 1,183.2 1,254 .2 1,323.1 1,389 .3 1,458.8 1,531 .7 1,608.3 1,688.7
Depreciation 3,648.7 3,685.0 4,677 .0 4,708.6 2,218 .3 4,576 .0 5,964 .8 7,861 .1 8,671 .7 9,150.9 9,925 .1 10,824.3 11,467 .8 12,371 .6 13,650 .1
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
8,537.8 9,202.7 11,625 .8 15,309.1 9,116 .1 18,305.2 15,548 .5 14,673.5 15,991 .5 17,359.6 19,149 .6 21,447.6 23,718 .4 26,717.3 30,330 .1
------------------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
NET OPERATING INCOME 780.2 959 .5 (711 .0) (3,315.9) (811 .2) (1,602.4) 4,147 .4 8,545.8 10,843 .1 12,341 .5 13,571 .0 14,598,5 15 .998,5 17,033.7 15.726 .7
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
INTEREST EXPENSE 824.5 781 .0 848 .2 842.5 354.3 1,420.5 4,491 .1 5,844.5 5,868 .0 5,529.0 5,605 .0 5,767.0 5,614 .2 5,645.1 5.995 .7
NET INCOME (44.3) 178.5 (1,559.2) (4,158.4) (1,165.5) (3,022.9) (343 .8) 2,701 .3 4,975 .1 6,812.4 7,966 .0 6,831 .5 10.384 .4 11,388.6 9,731 .0
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
EXTRAORDINARY ITEMS 872.4 (340.0) 569 .6 1,069.9 (1 .067.4) 0.0 0 .0 D.0 0.0 0 .0 0 .0 0.0 0.1) 0 .0 0 .0
NET PROFIT/(LOSS) (918.7) 518.5 (2,128 .8) (5,228.3) (98 .1) (3,022.9) (343.8) 2,701 .3 4,975 .1 6,812.4 7,966.0 8,831 .5 10,384,4 11,388 .6 9,731 .0
- - - - - - - - - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - - - - - - - -- - - - - - -
Rate Base (average net
revalued plant in service)
34248 70328 83293 93528 92364 108357 164174 212054 222840 227035 235429 244970 250242 259078 272875
Rate of Return 2.3% 1 .4% -0 .9% -3 .5% -0,9% -1 .5% 2.5% 4 .0% 4 .9% 5 .4% 5.8% 8 .0% 6 .4% 6 .6% 5 .8%
30 June
2000101

.YHNMkiiirra.iM+M++ .+++M++M++ .+++++, .+++1.++.+.r, .+, .+V+.+M++w,`MnM1,M,`M.M,
J.*MMiMM,nwMMwMMJ._*.. MM'&Nata+i7MNNH.M.wa+aa rata.+A+M+.H++++I+tn..+++
SOURCES & APPLICATIONS
. .* *."""a"
31 Dec .
1987
31 Dec.
1988
31 Dec .
1989
31 Dec .
1990
30 June
1991
30 June
1991/92
30 June
1992/93
30 June
1993/94
30 June
1994/95
30 June
1995/96
30 June
1996/97
30 June
1997/98
30 June 30 June
1998!99 1999/2000
30 June
2000/01
RUN (D) (WS$'000) Actual Actual Actual Actual Prov. Projections
- - - - - - - - - -- - - - - - - - - -- - - - - - -- - - -- - -- - - -- - -- - - - - - -- - - - - - -- - - - - - -- - - -- - -- - - - - - -- - - - - - -- - - - - - -- - - -- - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -
Internal Cash Generation
Net Income Before Interest 750.2 959 .5 (711 .0) (4,866.2) 256.2 (1,6024) 4,147 .4 8,545.8 10,843 .1 12,341 .5 13,571 .0 14,598.5 15 .998 .5 17,033.7 15,726.7
Add : Deprecation
Other Non Cash Items
3,648.7
0.0
3,885 .0
(314 .2)
4,877.0
539.5
4,708.6
1,097.9
2,216.3
(1 .015.3)
4,576.0
0 .0
5,964 .8
0.0
7,861 .1
0 .0
8,671 .7
0.0
9,150.9
0 .0
9,925 .1
0.0
10,824.3
0 .0
11,467 .8
0.0
12,371 .6
0 .0
13,650.1
0 .0
------------------ ------------ ------------ ------ ------ ----------- ----- ------ ------ ------
4,428.9 4,530 .4 4,505.6 940.4 1,457.1 2,973.6 10,112 .2 16,406 .9 19,514 .9 21,492 .4 23,496 .1 25,422.8 27,466 .4 29,405 .2 29,376.8
Customers Capital Contributions 94.7 64 .2 61 .4 19.4 163.4 100.0 100 .0 100 .0 100.0 100 .0 100 .0 100 .0 100 .0 100 .0 100.0
Operating Requirements
Debt Repayments
Interest 815.4 766.9 844 .1 806 .7 3521 1,420 .5 4,491 .1 5,844 .5 5,668.0 5 .529 .0 5 .605.0 5 .767 .0 5.614 .2 5 .645-1 5,995 .7
Principal 967.3 11,134.2 1,942 .1 1,199 .1 57.0 1,656 .9 4,064.1 3,833 .7 3,426.4 2,587 .2 3,146.5 3,484 .8 3,495.7 4,022 .7 3,964 .4
------
1,782.7
------------------ ------------------ ------ ------ ------------ ------------ ------ ------
11,901 .0 2,786 .2 2,005 .8 409.0 3,077 .3 8,555.2 9,678 .2 9,294.4 8 .116 .2 8,751 .5 9 .251 .8 9,109.8 9,667 .8 9,980 .2
increase (decrease) in
WorkingCapital 936.5 (124.9) 452 .2 804 .7 1,867 .2 (234 .6) 1,385.0 1,329 .2 826.1 619 .9 604.0 590 .9 606.2 617 .0 396 .3
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Total Operating Requirements 2,719.2 11,776.1 3,238 .4 2,610 .5 2,276.2 2,842 .7 9,940.2 11,007 .5 10,120 .5 8,736 .1 9,355.5 9,842 .6 9,716.0 10,284 .8 10,376 .4
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
FUNDS AVAILABLE FROM OPERAT 1,804.5 (7,181 .6) 1,328 .6 (1,850 .8) (655.7) 230 .9 272.0 5,499.5 9,494.4 12,858.3 14,240.6 15,680 .2 17,850.4 19,220.4 19,100 .3
------- ------ ------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------
Capital Expenditure Etc .,
Construction programme plus IDC 5,446 .8 3,768.6 5,391 .5 5,175.6 5,054 .4 42,016.0 26,998 .2 11,166.3 748 .4 777 .9 9 .656 .2 3,681 .6 1,056 .9 11,036 .8 11,491 .2
------------------------------------------------------------------------------------------
Finance Required (3.642 .3) (10,950.2) (4,062.9) (7,026.4) (5,710 .1) (41,785.1) (26.726 .2) (5 .666.8) 8,746 .0 12,078.3 4,584 .4 11,998.6 16,793 .5 8,183 .6 7,609.2
------ ------ ------------ ------ ------------------ ------ ------------------ ------ ------ ------
Financed By :
Leans 978 .5 1,242.8 424.4 5,249.9 4,329 .2 22,475.0 14,829 .0 7,041 .1 0.0 0 .0 6,193 .6 1,865.0 0 .0 6,993.8 7,283 .4
Grants 1134 .9 10,937.3 5,040.0 1,268.3 (459 .7) 18,912.0 12,2922 326.2 0.0 0 .0 0.0 0.0 0 .0 0 .0 0.0
Other 0 .0 8,4 20.0 27.8 81 .2 100.0 100 .0 100.0 100 .0 100.0 100 .0 100.0 100 .0 100.0 100.0
------------------------------------------------------------------------------ ------------
2,113 .5 12,186.5 5,484.4 6,546.0 3,950 .6 41,487.0 27.221 .2 7,467.3 100 .0 100.0 6,293 .6 1,965.0 100 .0 7,093 .8 7,383.4
------------------------------ ------ ------------------------------------------------------
Increase (decrease) In cash (1,528.9) 1,562.3 1,691 .8 (480.4) (1,759.5) (298.1) 495 .0 1,800.5 8,848 .0 12,178 .3 10,878 .1 13,963.5 16,893 .5 15.277 .4 14,992.5
------ ------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------ ------ ------
Cash (opening balance) 1,131 .1 (397.8) 1,164.5 2,856.3 2,375.9 616.5 318 .3 813.4 2,613 .8 11,459 .8 23,638 .2 34,516.2 48,479 .8 65,373 .2 80,650.6
------ ------ ------ ------ ------ ------ ------- ------ ------ ------ ------ ------
Cash (closing balance) (397 .7) 1,164.5 2,858.3 2,375.9 616.5 318.3 813 .4 2,613.8 11,459 .8 23,638.2 34,516 .2 48,479.8 65,373 .2 80,650 .6 95,643.2
- - - - - - - - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - - - - - - - - - - - - - - -
Debt Service Ratio 2.0 0 .4 1 .5 0 .5 3.6 1 .0 1 .2 1 .7 2.1 2.6 2 .7 2 .7 3.0 3 .0 2 .9
Self Financing Ratio - Annual 0.31 (1 .92) 0 .24 (0,36) (0 .16) 0.00 0.01 0 .48 12.55 16.40 1 .46 4,23 1679 1 .73 1 .65
Self Financing Ratio - 5 YR AVE 0.58 (1 .83) 0 .26 (0 .15) (0 .05) 0.01 0 .01 0 .33 0 .95 2.45 4 .44 2 .97 2.40 3.51 4 .03
.t. .. .a.toss++alt.ttat+tttrttrttt.+,.ttat .a.a.aa •HH,~MMM+wM+,~+w+Mn+ .+.11+t+wt.t+M .,YMi+aMni +a.aa.aMaa+iaM.+MHataa,L ,a . . .a.., * . .+ a. .ai.llt .ft .

....f. ...f.ffM....f . . ..f *t f.M .ff aN f ff .f f . . ff . . .f.fM. .,.fM .M. . . . f.nnH .M . M.MM*V . . *H11M.n . .V...*n .f. . .n.» . Y w e
RUN (D) BALANCE SHEET 31 Dec . 31 Dec . 31 Dec. 31 Dec . 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June 30 June
- . . ..`. •"" 1987 1988 1989 1990 1991 1991/92 1992/93 1993/94 1994/95 1995/96 1996/97 1997198 1998/99 199912000 2000/01
(WS$'000) Yearend : Actual Actual Actual Actual Prov. Projections
----------------------------------------------------------------------------------------------- --
ASSETS
Gross Fixed Assets 109,656.8 119,192 .2 143,505 .7 142,148 .3 144,589.7 181,681 .9 266,764.1 291,268.6 304,468.8 317,882 .2 340,333.1 357,713 .2 373,168.1 399,224 .9 426,784 .8
Less : Accum . Depreciation 41,161 .3 47,031 .3 49 .079.7 49,517 .9 52,491 .1 57,067 .1 63,031 .9 70 .893 .0 79,564.8 88,715 .7 98,640.8 109,465 .1 120,932.9 133,304 .5 146,954 .5
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Net Book Value 68,495.5 72,160 .8 94,425 .9 92,630.4 92,098.6 124,614 .8 203,732.2 220,375.6 224,904 .0 229,166 .5 241,892.3 248,248 .1 252,235.2 265,920 .4 279,830 .3
Work In Progress 4,392.5 5,387 .0 8,621 .5 12,783 .4 21,500.0 49,050 .1 50.1 50 .1 50.1 50 .1 50.1 50 .1 50.1 50 .1 50 .1
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Net fixed Assets 72,888 .0 77 .547 .8 103,047 .4 105,413.8 113,598.6 173,664 .9 203,782.3 220,425 .7 224,954 .1 229,216 .5 241,742.4 248,298 .2 252,285.2 265,970 .5 279,880 .4
Intangible Assets 475.3 381 .1 301 .0 178 .4 159.3 142 .0 142.0 142 .0 142.0 142 .0 142.0 142 .0 142.0 142 .0 142 .0
Current Assets
Cash/Deposits 706.0 1,164 .5 3,059 .3 2,375 .9 895.5 318 .3 813.4 2,613 .8 11,459.8 23,638 .2 34,516.2 48,479 .8 65,373.2 80 .650 .6 95,643 .2
Customer Accounts Receivable 453.7 422 .1 376 .4 615 .3 868.6 944 .4 1,118.2 1,318 .7 1 .526.4 1,690 .8 1,864.2 2,055 .2 2.266.1 2,497 .9 2,629 .6
Other Receivables 124 .5 81 .1 199.2 168.4 347.3 376.9 401 .3 425 .4 451 .0 475 .8 499.5 524 .5 550.7 578.3 607 .2
Accrued Revenue 578.4 591 .0 532 .0 796.9 1,000.8 680 .0 803.7 949.5 1,099.0 1,217 .4 1,342.2 1,479 .7 1,631 .6 1,798 .5 1,893 .3
Prepayments 156.7 63 .2 1029 166.1 338.0 386 .7 390.5 414 .0 438.8 462 .9 486.1 510 .4 535.9 562.7 590 .8
Refund from GOWS/Other 1,076.8 318 .5 30.7 76 .1 308.5 0.0 0 .0 0.0 0.0 0.0 0 .0 0.0 0 .0 0 .0 0.0
Inventories 2,473 .4 2,826 .8 3,670 .9 5,390.0 5,759.9 6,249.5 6,655.7 7,055.0 7,478.3 7,889 .6 8,284.1 8,698 .3 9,133.3 9,589.9 10 .069 .4
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Total currentassets 5,569.4 5,467 .1 7,971 .4 9,589 .5 9,316.2 8,935 .6 10,180.8 12,778 .4 22,453.4 35,374 .8 46,992.4 61,747 .9 79,490.8 95,677 .9 111,433 .6
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
TOTAL ASSETS 78 .932 .7 83,396 .1 111,319 .8 115,181.7 123,074 .1 182,7427 214,105.2 233,344 .1 247,549.5 264,733 .3 288,876.8 310,188 .1 331,918 .0 361,790.4 391,456 .0
EQUITY AND LIABILITIES
Equity
Government/Grants 26,636.7 37,574 .0 42,574 .0 43,8423 45,855.5 64,767 .5 77,059.7 77,385 .9 77,385.9 77,385 .9 77,385.9 77,385 .9 77,385.9 77,385 .9 77,385 .9
General Reserves 546.6 546 .6 546.6 546 .6 546.6 546 .6 746.6 948 .6 1,146.6 1,346 .6 1,546.6 1,746 .6 1,946.6 2,146 .6 2,346 .6
Revaluation Reserve 36,748.9 41,431 .1 66,149 .4 67,950.5 68,649.1 89,100 .7 96,166.3 108,809 .4 121,241 .8 133,858.5 146,635.2 159,515 .4 173,693.5 188,892.7 205,127 .6
Retained Earnings (13,777 .1) (13,188 .1) (15,206 .9) (20,414.1) (20,347.1) (23,370 .0) (23,713.7) (21 .012.5) (16 .037 .3) (9,224 .9) (1,258.9) 7,572 .7 17,957.0 29,345 .6 39,076 .6
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Total Equity 50,155.1 66,363 .6 94,061 .1 91,925 .3 92,704.1 131,044 .9 150,258.9 166,129 .4 183,737.0 203,366 .1 224,308.9 246,220 .6 271,183.1 297,770.8 323,936 .8
Long Term Debt 25,316.8 15,238 .5 15,053 .0 20,125 .6 26,970.4 45,716 .4 58,711 .7 63,003.3 60,416.1 57,269 .6 59,978.5 59,147 .1 55,124 .4 58,133 .7 61,183 .6
Current Liabilities
Bank Overdraft 1,103 .8 0 .0 203 .0 0 .0 279.0
Sundry Creditors/Provisions 541 .6 687 .5 837 .7 1,813 .9 1,200.8 1,632.1 997.1 463 .0 467.8 591 .0 726.6 927 .7 1,170.9 1,463 .7 1,830 .5
Interest Payable 625.3 43 .5 50 .6 90 .6 2629 285 .2 303.8 3220 341 .3 380 .1 378.1 397 .0 416.9 437 .7 459 .6
Loans - Current Portion 1,190.2 1,063 .0 1,114 .3 1,226.3 1,856.9 4,064 .1 3,833.7 3,426.4 2,587.2 3,146 .5 3,484.8 3,495 .7 4,022.7 3,984 .4 4,045 .4
------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------ ------
Total Current Lebilites 3,460.8 1,794 .0 2,205 .6 3,130 .8 3,399.5 5,981 .4 5,134.6 4,211 .4 3,396.4 4,097.6 4,589.5 4,820 .4 5,610.5 5,885 .8 6,335 .6
------ ------ ------ ------ ------ ------ ------ ------ --- ------ ------ ------ ------ ------ ------
TOTAL EQUITY AND UABIUTIES 78,932.8 83,396 . t 111,319 .8 115,181.7 123,074.1 182,7427 214.105.2 233,344.1 247,549.4 264,733 .4 288,876.9 310,188 .1 331,918.0 361,790 .4 391,456 .0
-____ ====== ====_°====== ______ _=____ ------------------
- - - - - - - - - - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - - - - - - - -- - - - - - -- - - - - - - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - -- - - - - - - - - - - - -- - - - - - -
DebUDebt plus Equity 33.5% 18.7%
13.8% 18 .0% 22 .5% 25.9% 28 .1% 27 .5% 24.7% 22 .0% 21 .1% 19.4% 16 .9% 16.3% 15.9%
f...f..f f ' f.ff FM..f. .f &.f .. . .M.MM. .t M1,M*M ..k***** .w .4 h,1.M T M.M A.M + + a a r

APPENDIX F
GENERATION OPERATION
AND MAINTENANCE PROCEDURES

F .1 General
F /1
APPENDIX F
GENERATION OPERATION
AND MAINTENANCE PROCEDURES
The present state of EPC facilities clearly indicates a deficiency in maintenance procedures
and to a lesser extent a deficiency in operating procedures .
In the case of operating procedures, the situation is exacerbated by the level of education of
the basic pool of people from which operators are drawn .
Improvements to the standard of operations can be made by the continued training of
operators and the provision of clear, concise operating instructions to operators .
Maintenance procedures in EPC clearly show a lack of planning . Maintenance is carried out
on an adhoc basis with little forward planning . There are sufficient numbers of maintenance
staff available, and the level of skills are adequate provided the maintenance is carried out on
a planned basis and the necessary supervision is provided .
It is recommended that a study be carried out to consider planning, operation and
maintenance problems at Tanugamanono power station . This study would need to be carried
out by a consultant as EPC do not have the capacity to undertake this task . However on
completion of the study it would be anticipated that EPC should be able to extend the results
to apply to other operation and maintenance areas .
F.2 Tanugamanono Power Station
Tanugamanono power station is the most important centre in the EPC system . It is the sole
control centre for distribution in Upolu and, with the installation of the 3 .5 MW diesel generator
now on order, will be the largest centre of generating capacity on the island . It is also the
control centre for all hydro stations .
As the diesel generation expansion recommended in this report is to be installed at
Tanugamanono the importance of this station will increase with time .
The power station has grown piecemeal with items of equipment added from time to time with
little consideration for overall or future requirements . A number of buildings have been
erected without sufficient overall planning .

F .3 Tanugamanono Development Plan
The study proposed above should :
(1)
(3)
F /2
Areas of concern at Tanugamanono include :
a) Fire Danger
Bad housekeeping, oil spills, oil leaks, and poor maintenance, have increased the ever present
risk of fire in a diesel power station to an unacceptable level . Merz and McLellan' drew
attention to the hazard of oil storage and commented on the lack of information and drawings
on the drainage system of the power station .
b) Safety of Operation
Normal operation of the station is difficult due to the complicated interlocking provided on
some equipment coupled with the problem of a number of different types of equipment
involved . Operating risks are increased by the low level of skill of the operators .
C) Fault Location
There are problems in locating faults in equipment due to the complications caused by
differing types of equipment and due to incomplete wiring diagrams and lack of other
equipment information . Much of the information has been damaged or lost .
Review the present system of storage and distribution of fuel oil and prepare a plan
of development to minimize the risk of fire in the power station . This plan should
address the problems of fire prevention, fire detection, fire fighting and the training of
personnel in fire prevention and fire fighting techniques .
(2) Prepare documentation including operating instructions, circuit diagrams etc to
facilitate normal operation and fault maintenance in the power station .
Prepare a master plan of all maintenance requirements of the power station including
a time schedule of these requirements .
(4) Prepare a master plan of protection requirements including supplying necessary
information to enable EPC personnel to periodically review protection settings . The
plan should include requirements for recording of fault information for both power
station and distribution outages .
Merz & McLellan, 'Asset Revaluation and Tariff Study for the Electric Power Corporation' April 1990 .

(5)
(7)
F /3
Prepare an overall plan of rationalization of switchgear and protection as generating
plant is retired .
(6) Review the proposal for the connection of the 33kV input from Lalomauga Power
Station in the context of the overall development of Tanugamanono .
Review the present arrangements for cooling water and starting air and prepare plans
for improvements .
(8) Review the use of the power station property including the buildings which have been
erected . Particular attention should be given to desirability of locating non power
station activities such as motor vehicle repairs in the power station property . Prepare
an overall plan for the development of the power station and surrounds .

APPENDIX G
ORGANISATIONAL ISSUES
FINANCE & ACCOUNTING

G /1
APPENDIX G
ORGANISATIONAL ISSUES
FINANCE & ACCOUNTING
It became apparent during the Field Visit that the Deputy General Manager Finance (DGM
Finance) is not kept fully aware of all matters that impact on EPC's financial affairs and that
the time available to spend on financial planning is limited because of the need to attend to
day to day accounting matters .
To rectify the first issue - namely being fully aware of all financial matters - we recommend the
following :
(1)
(3)
The DGM Finance be invited to attend all EPC Board Meetings ;
(2) The DGM Finance to have access as of right to all Board Minutes and Board
papers ;
That the present legislation be amended so that the General Manager, Deputy
General Manager for Finance and for Engineering are able to be elected as
Board Members;
(4) The DGM Finance should have overall responsibility for accounting/finance
and administrative matters with the Manager of Administration reporting to the
DGM Finance ;
(5) The DGM Finance's office should be located in the suite of offices beside the
General Manager and the Deputy General Manager of Engineering . This will :
(i) keep the DGM Finance in touch with the day to day management
decisions made for EPC, most of which have financial implications :
(ii) remove the DGM Finance from the day to day management of EPC's
accounting function ;
(iii) allow time to address critical financial planning issues .
Recommendation (5) above has implications for the organisation of the accounting
department . Given the size of EPC there is justification for having a more structured
accounting organisation along the lines proposed below . This would include :

(i)
(ii) an EDP Manager with systems planning experience to oversee the
management of the EDP Section .
The introduction of these new positions and recommendations would result in the following
organisation structure for the finance/accounting/EDP area of EPC :
Administration
Manager
Proposed Organisation Structure for
Finance/Accounting/EDP Department of EPC
Project
Accountant
Atulilo
G /2
a management accountant to oversee the preparation of management reports
(and assist with preparation of annual financial statements ;
DGM -
Finance
Chief
Accountant/
Office
Manager
Chief
Accountant/
Management
Accountant
EDP
Manager
and
Systems
Planner
The Project Accountant is located in the Atulilo Project Office . The Chief Accountant/Office
Manager currently oversees the accounting department and attends to all customer queries
concerning metering and billing . The Administration Manager presently reports directly to
the General Manager . However, as noted above, we recommend that the Administration
Manager who is responsible for all EPC's files and filing, report directly to the DGM Finance .
This would also assist the DGM Finance in keeping abreast of all important financial matters
that impact on EPC. At the moment there are a number of Cabinet Papers and other
important documents that have a financial impact on EPC that are filed that the DGM Finance
is not even aware exist .
We would expect that the salaries for the two new positions of Management Accountant and
EDP Manager would be in the range of WS$25,000 to US$30,000 per annum .