17. Trade and other payables
Trade payables and accrued expenses
Accrued distribution costs
Green commodity scheme obligations
Total trade and other payables
Trade payables are unsecured and are generally settled within 32 days from end of month of the date of recognition.
Trade and other payables represent liabilities for goods and services provided to AGL prior to the end of the reporting period that are unpaid and arise when AGL becomes obliged to make future payments in respect of the purchase of these goods and services.
CRITICAL ACCOUNTING ESTIMATES AND ASSUMPTIONS
AGL recognises distribution costs once the gas and electricity has been delivered to the customer and is measured through a regular review of usage meters. Management estimates customer consumption between the last invoice date and the end of the reporting period when determining distribution costs for the financial period. Various assumptions and financial models are used to determine the estimated unbilled consumption.