Notes to the financial statements (continued) Section 3: Operational assets and liabilities (continued) 14. Provisions (continued) B. Amounts recognised in statement of financial position (continued) See table 27 below. i. Environmental costs Environmental provisions relate to estimated costs on essential safety expenditure.
C. Critical accounting estimates and judgements: present value of employee benefits The present value of employee benefits, including annual and long service leave and retirement benefit obligations, is determined using actuarial valuations. An actuarial valuation involves making various assumptions that may differ from actual results including the discount rate, future wages and salaries levels (including related on-costs), employee departures and settlement dates. All actuarial assumptions are reviewed at each reporting date with any remeasurement gains or losses recognised in accordance with the accounting policy in note 14(a). D. Movements in provisions Movements in each class of provision during the reporting year presented, other than employee benefits, are shown in table 28 below.
Table 27: Amounts recognised in statement of financial position
2024/25 Non- current $M
2023/24 Non- current $M
Current $M
Total $M
Current $M
Total $M
Note
Employee benefits Annual leave Long service leave Other
14(e) 14(e)
57 54 2 113
- 18 - 18
57 72 2 131
49 48 2 99
- 14 1 15
49 62 3 114
Rehabilitation costs Environmental costs
- -
4 3
4 3
- 1
4 3
4 4
14(b)(i)
113
25
138
100
22
122
Table 28: Movements in provisions
Rehabilitation costs $M
Environmental costs $M
4 - (1) -
4 - - - 4 4 - - - 4
At 1 July 2024 Provided for in the reporting year Charged in the reporting year Reversed in the reporting year
At 30 June 2025
3 3 - 1 - 4
At 1 July 2023 Provided for in the reporting year Charged in the reporting year Reversed in the reporting year
At 30 June 2024
Western Power Annual Report 2025
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