❓ Question regarding the valuation of the Muja AB project during the merger of electricity corporations. The answer states the asset's value was unaffected as it remained within the continuing entity, Verve Energy.
AnsweredQoN 1935Legislative Assembly
QuestionView source ↗
I refer to the Muja AB project, and ask what was the value placed on the Muja AB project when the asset was transferred to the Electricity Generation and Retail Corporation?
AnswerView source ↗
Answered
6 May 2014
Responded by
Minister for Energy
Response time
56 days
On 1 January 2014, the assets and liabilities of the former Electricity Retail Corporation were vested into the Electricity Generation and Retail Corporation, formerly known as the Electricity Generation Corporation (trading as Verve Energy). This is referred to as the Merger.
The Muja AB assets stayed with Verve Energy, which is the continuing entity and therefore in accordance with accounting standards, the value of these assets was not affected by the Merger.
The Muja AB assets stayed with Verve Energy, which is the continuing entity and therefore in accordance with accounting standards, the value of these assets was not affected by the Merger.
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