DOWNLOAD THIS SECTION DOWNLOAD FULL REPORT

34. Related party disclosures

Key management personnel remuneration

Key management personnel are those persons having authority and responsibility for planning, directing and controlling the activities of AGL, directly or indirectly, including the Directors of the Parent Entity.

The aggregate remuneration made to key management personnel is set out below:

2019
$000

2018
$000

Short-term employee benefits

9,758

11,552

Post-employment benefits

237

229

Termination benefits

3,313

939

Share-based payments

2,599

2,713

Total remuneration to key management personnel

15,907

15,433

Further details are contained in the Remuneration Report attached to and forming part of the Directors’ Report.

Amounts owing by joint ventures and joint operations

ActewAGL Retail Partnership

53,392

63,911

Powering Australian Renewables Fund

151

2,570

North Queensland Energy Joint Venture

188

188

The amount owing is unsecured, interest free and will be settled in cash. No expense has been recognised in the current or the prior period for bad or doubtful debts in respect of the amounts owed by joint ventures.

Amounts owing to joint ventures and joint operations

Powering Australian Renewables Fund

7

-

The amount owing is unsecured, interest free and will be net settled in cash.

Trading transactions with joint ventures and joint operations

2019
$000

2018
$000

ActewAGL Retail Partnership

AGL sold gas and electricity to the ActewAGL Retail Partnership on normal commercial terms and conditions.

Net amounts received

369,024

373,070

Sunverge Energy Inc

On 4 February 2016, AGL entered into a supply agreement with Sunverge Energy Inc to supply AGL with battery storage units, energy software and support services on normal commercial terms and conditions. This agreement ceased during the year ended 30 June 2018.

Net amounts paid

-

1,367

Powering Australian Renewables Fund

AGL has purchased electricity and environmental products from Powering Australian Renewables Fund (PARF) on normal commercial terms and conditions.

Net amounts received/(paid)

155

(5,593)

AGL received management fees from PARF for overseeing the operation and construction of PARF's generation assets.

Net amounts received

1,863

3,651

North Queensland Energy Joint Venture

North Queensland Energy Joint Venture (NQE) pays management fees to AGL as the operator of NQE.

Net amounts received

750

750

PREVIOUS PAGE33. Share-based payment plans

NEXT PAGE35. Cash and cash equivalents