Notes to the financial statements (continued) Section 3: Operational assets and liabilities (continued) 14. Provisions (continued) E. Amounts not expected to be settled within the next 12 months The annual and long service leave benefits reported as current because Western Power does not have an unconditional right to defer settlement, but that based on past experience are not expected to be taken or paid within the next 12 months of the reporting dates presented, are shown in table 29 below.
15. Deferred income A. Accounting policy
Contributions received in advance are deferred and subsequently recognised as revenue at the point the developers or customers are connected to the network. This is in satisfaction of the performance obligation of the underlying connection contract. Contributions are classified as current liabilities unless connection to the network is not due for at least 12 months after the reporting date. B. Amounts recognised in statement of financial position Deferred income largely relates to contributions received in advance from developers and customers. See table 30 below. C. Movements in deferred income Movements in deferred income during the reporting years presented, are shown in table 31 below.
Table 29: Amounts not expected to be settled within the next 12 months
2024/25 $M
2023/24 $M
Current annual leave Annual leave expected to be settled within 12 months Annual leave expected to be settled after 12 months
31 26 57 48 6 54
31 18
49
Current long service leave Long service leave expected to be settled within 12 months Long service leave expected to be settled after 12 months
48 - 48
Table 30: Amounts recognised in statement of financial position 2024/25
2023/24 Non- current $M
Non- current $M
Current $M
Total $M
Current $M
Total $M
Deferred income
251
86
337
239
73
312
Table 31: Movements in deferred income
2024/25 $M
2023/24 $M
At 1 July Received in the reporting year Earned in the reporting year
312 169 (143)
262 182 (132)
At 30 June
337
312
110
Western Power Annual Report 2025
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