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FINANCIAL INFORMATION Abridged Income Statements_part4

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Thu nhập tăng bởi vì TransGrid nhận được thêm doanh thu quy định khoảng $ 30,0 triệu trong năm 2008-09. Điều này dẫn đến một sự điều chỉnh một trong các thông số được sử dụng trong tính toán doanh thu Trợ cấp tối đa quy định cho giai đoạn 2004-09 | TransG rid_ Financial Performance Year ended 30 June Target Actual 2009 2009 2008 2007 Earnings before interest and tax m 318.1 320.5 290.5 240.8 Return on equity a 7.8 8.0 7.7 5.8 Return on assets b 7.1 6.8 7.1 6.3 Interest cover times 2.3 2.4 2.4 2.3 Dividends to government m 114.2 120.2 105.9 71.5 Capital expenditure 537.9 619.9 355.0 218.2 Source TransGrid 30 June 2009 Statement of Corporate Intent SCI . a net profit after tax divided by average equity. b earnings before interest and tax divided by average assets. Earnings increased because TransGrid received additional regulated revenue of approximately 30.0 million in 2008-09. This resulted from a correction to one of the parameters used in the Maximum Allowance Revenue calculation for the 2004-09 regulatory period. Contributions to Government for 2008-09 were 187 million comprising a dividend of 120 million 106 million in 2008 and taxation of 67.1 million 58.1 million . Capital expenditure increased significantly from 2008 and a number of major capital projects were close to completion including the Western 500kV Development Project and Wollar-Wellington 330kV Transmission Line projects. OTHER INFORMATION Maximum Allowable Revenue Every five years the AER determines the maximum allowable revenue for TransGrid s operations for a five year regulatory period. The revenue proposal seeks sufficient funds from the regulator to allow TransGrid to continue to deliver network reliability. A key challenge in the current regulatory period is the significant reduction in the regulated return on TransGrid s asset base resulting from a fall in bond yields used by the AER to determine the rate of return. Consequently TransGrid s transmission charges will increase by 2.3 per cent increasing the average residential customer bill by 2.80 per annum from 1 July 2009. The approved regulated capital works program will increase to 2.4 billion .