Notes to the financial statements (continued) Section 4: Debt and equity (continued) 22. Contributed equity A. Accounting policy Contributions made by the owner, as designated so at the time of, or prior to the contribution, are recognised as a direct adjustment to equity when received. B. Nature of contributions Contributed equity represents the initial and subsequent contributions made by Western Power’s sole owner, the Western Australian State Government. No shares have been allotted. The owner’s initial contribution comprised the assets of Western Power Corporation, after deducting liabilities, transferred to Western Power on 1 April 2006. The owner has made subsequent contributions including: • to the edge of grid and regional power investment programs • to offset dividends paid (and retained) on capital contributions (including income tax equivalent recoveries on commercial capital contributions) • for the sale of land surplus to requirements • for the recovery of income tax equivalent expense on residential capital contributions.
C. Movements in contributed equity Movements in contributed equity during the reporting years presented, are shown in table 51 below. i. Contributed equity During the reporting years presented, the State Government made contributions to offset the payment of dividends retained by Western Power arising from capital contributions (including income tax equivalent recoveries on commercial capital contributions), for the sale of land surplus to requirements and for the recovery of income tax equivalent expense on residential capital contributions.
Table 51: Movements in contributed equity
2024/25 $M
2023/24 $M
Note
1,973
At 1 July Contributions received to offset Final dividend Interim dividend Total contributions received
2,062
22(c)(i)
23 66 89
175 - 175
At 30 June
2,237
2,062
126
Western Power Annual Report 2025
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