❓ A member of parliament requests information on Western Power's projected profits before income tax for the next four financial years. The answer provides the figures and notes that customer contributions inflate the profit.
AnsweredQoN 8262Legislative Assembly
QuestionView source ↗
I refer to the 2012–2013 State Budget, and I ask, what is the budgeted profit before income tax expense for Western Power for each of the years 2012–2013, 2013–2014, 2014–2015 and 2015–2016?
AnswerView source ↗
Answered
8 August 2012
Responded by
Minister representing the Minister for Energy
Response time
48 days
2012-2013: $433 million
2013-2014: $494 million
2014-2015: $564 million
2015-2016: $664 million
Over the forward estimates the return on Western Power's assets, which are currently approximately $8 billion, is 4.18%.
It is important to recognise that Western Power's profit is inflated by customer contributions in the form of either cashreceived from customers for their portion of capital works or physical network assetsthat are transferred to Western Power which accounting standards require to be shown as Revenue but for which Western Power receives no cash.
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2013-2014: $494 million
2014-2015: $564 million
2015-2016: $664 million
Over the forward estimates the return on Western Power's assets, which are currently approximately $8 billion, is 4.18%.
It is important to recognise that Western Power's profit is inflated by customer contributions in the form of either cashreceived from customers for their portion of capital works or physical network assetsthat are transferred to Western Power which accounting standards require to be shown as Revenue but for which Western Power receives no cash.
Notice: This document is created or edited using unregistered or evaluation copy of rtLib valid for testing or development purposes only. To use it for productive or any other purposes please register it. You may purchase the license on
http://www.rtlib.com
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