CAPITAL EXPENDITURE
Net capital expenditure of $478m represented a 41% (or $330m) decrease from the very high value of 2004-05, but still maintained a level well above the preceding three years.
The decrease in net capital expenditure was due to a significant decline in other capital expenditure (including land and intangible assets) which fell by $373m (98%). This decline was offset partly by a $67m (44%) increase in the acquisition of plant, machinery and equipment.
Net capital expenditure by the gas supply industry amounted to 39% of its IVA, compared to 75% in 2004-05. In the three years preceding 2004-05, this ratio was less than 30%.