Notes to the Consolidated Financial Statements
The following reflects an aging summary of trade and other receivables. All trade and other receivables not classified as current at the end of the reporting period are considered past due.
(millions)
2021
2020
$
155
Current
$
144
9 3 9
30 - 59 days 60 - 89 days
8 3 7
Greater than 90 days
176
162
(11)
Credit loss allowance
(7)
$
165
$
155
The following table provides information about the ECLs for trade and other receivables from individual customers as at March 31, 2021.
(millions)
Gross Amount
Loss Rate
Loss Allowance
$
4 1 1 5
Current
$
155
2.6%
30 - 59 days 60 - 89 days
9 3 9
11.1% 33.3% 55.6%
Greater than 90 days Credit loss allowance
$
11
The Corporation records lifetime ECLs on customer receivables based on a developed provision matrix. The change in the credit loss allowance with respect to trade and other receivables is as follows:
(millions)
2021
2020
$
7 5
Opening balance
$
5 5
Provision Write-offs
(1)
(3)
$
11
Closing balance
$
7
6. NATURAL GAS IN STORAGE HELD FOR RESALE
(millions)
2021
2020
$
15
Cost
$
20
-
Revaluation to net realizable value
(7)
$
15
$
13
As at March 31, 2021, the Corporation expects that the $15 million current inventory value could be sold or consumed within the next fiscal year.
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