Full Version - Essential Energy

Notes to the Financial Statements
for the year ended 30 June 2005
NOTE 12. PROPERTY, PLANT AND EQUIPMENT
Consolidated Corporation
2005 2005
$’000 $’000
System Assets:
Opening carrying value
At fair value 2,554,501 2,414,513
Accumulated depreciation (458,639) (443,377)
Net opening carrying value 2,095,862 1,971,136
Movements
Additions 293,705 289,555
Disposals (1,418) (1,418)
Depreciation expense (91,324) (87,029)
Net movements 200,963 201,108
Closing carrying value
At fair value 2,846,295 2,702,154
Accumulated depreciation (549,470) (529,910)
Net closing carrying value 2,296,825 2,172,244
81
Land and Buildings
Opening carrying value
At fair value 78,971 78,971
Accumulated depreciation (8,630) (8,630)
Net opening carrying value 70,341 70,341
Movements
Additions 13,014 13,014
Revaluation 14,658 14,658
Disposals (526) (526)
Depreciation expense (2,755) (2,755)
Net movements 24,391 24,391
Closing carrying value
At fair value 94,732 94,732
Net closing carrying value 94,732 94,732
Plant and Equipment
Opening carrying value
At fair value 412,820 412,820
Accumulated depreciation (219,274) (219,274)
Net opening carrying value 193,546 193,546
Movements
Additions 86,201 86,201
Disposals (5,434) (5,434)
Depreciation expense (51,176) (51,176)
Net movements 29,591 29,591
Closing carrying value
At fair value 488,054 488,054
Accumulated depreciation (264,917) (264,917)
Net closing carrying value 223,137 223,137
Net Carrying Value of Property, Plant and Equipment 2,614,694 2,490,113
COUNTRY ENERGY ANNUAL REPORT 2004–2005