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5.3 Fair Value Measurement
The following tables provide an analysis of assets and liabilities that are measured at fair value. The remaining assets and liabilities disclosed in the statement of financial position do not apply the fair value hierarchy.
The different levels of the fair value hierarchy are defined below.
Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities that the entity can access at measurement date.
Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
Level 3: Unobservable inputs for the asset or liability.
The Commission considers the fair value hierarchy levels at the end of the reporting period. There were no transfers in or out of any levels during the reporting period.
5.1A: Fair value measurement
Fair value measurements at the end of the reporting period
Valuation Technique(s) and Inputs Used
Category (Level 1, 2 or 3)
Market approach. Market replacement cost less estimate of written down value of asset used.
Non-financial assets 1
Infrastructure, plant and equipment