Full Version - Essential Energy

Notes to the Financial Statements
for the year ended 30 June 2005
Assets and Liabilities
Energy Other Eliminations Consolidated
2005 2004 2005 2004 2005 2004 2005 2004
$’000 $’000 $’000 $’000 $’000 $’000 $’000 $’000
Segment assets 2,915,147 2,696,018 218,737 106,725 - - 3,133,884 2,802,743
Assets excluded from
segment assets 54,190 62,965
Total Entity Assets 3,188,074 2,865,708
Segment Liabilities 410,690 348,381 47,721 86,132 - - 458,411 434,513
Liabilities excluded from
segment liabilities 1,910,631 1,707,440
Total Entity Liabilities 2,369,042 2,141,953
94
SECONDARY REPORTING - GEOGRAPHICAL SEGMENTS
Revenue by location of customer 1,709,546 1,641,910
Carrying amounts of segment assets by location 3,133,884 2,802,743
Acquisition of non-current assets by location 392,920 326,292
NOTE 29. SUPERANNUATION PLANS
The Corporation contributes to one defined contribution and several defined benefit employee superannuation plans of the Energy
Industries Superannuation Schemes Pty Ltd. The Corporation also contributes to a defined employee benefit plan of the Electricity
Supply Industry Superannuation (Qld) Ltd.
In the case of the defined benefit employee superannuation plans, employer contributions are based on the advice of the plans’
actuaries. Employee contributions are based on various percentages of employee gross salaries. After serving a qualifying period all
employees are entitled to benefits on retirement, disability or death.
The plans provide defined benefits based on years of service and final average salary. In accordance with the various Trust Deeds the
Corporation is under no legal obligation to make up any shortfall in the plans’ assets to meet payments due to employees.
An assessment of the defined benefit plans as at 30 June 2005 was carried out by FuturePlus Financial Services Pty Limited for NSW
employees. The actuaries used by the trustees were William M Mercer Pty Limited (NSW). The authorities concluded that the assets of
the plans were sufficient to meet all benefits payable in the event of the plans’ termination or the voluntary or compulsory termination
of all contributors of the Corporation.
The most recent assessment of the defined benefit plans for QLD employees was performed in June 2002 by Electricity Supply
Industry Superannuation (Qld) Ltd. At that time, the actuaries used by the trustees were NSP Buck Pty Limited (QLD), who concluded
that the assets of the plan were sufficient to meet all benefits payable in the event of the plan’s termination or the voluntary or
compulsory termination of all contributors of the Corporation.
Accordingly, the amounts included in this disclosure for the Electricity Supply Industry Superannuation Fund (Qld) is the most recent
information available, being measured as at 1 July 2002.
Only four Country Energy employees belong in the Electricity Supply Industry Superannuation Fund (Qld), and as such, the amounts
disclosed are not material.
The accrued benefits and plan assets at net market value are set out below. Accrued benefits are benefits which the plans are presently
obliged to pay at some future date as a result of membership of the plans.
COUNTRY ENERGY ANNUAL REPORT 2004–2005