Contractual obligations at 31 March 2009
The table of contractual obligations shown below analyses our long-term contractual obligations according to payment period.
Purchase obligations reflect commitments under power contracts and future capital expenditure contracted for but not provided. The other long-term liabilities reflected in the balance sheet at 31 March 2009 comprise commodity contracts carried at fair value and other creditors that represent contractual obligations falling due after more than one year.
Interest on borrowings is calculated based on borrowings at 31 March 2009 and does not reflect future debt issues. Floating-rate interest has been estimated using future interest rate curves at 31 March 2009.
| Less than 1 year £m |
1-3 years £m |
3-5 years £m |
More than 5 years £m |
Total £m |
|
|---|---|---|---|---|---|
| Financial liabilities | |||||
| Borrowings | 2,839 | 4,406 | 3,777 | 15,279 | 26,301 |
| Interest payments on borrowings | 1,031 | 1,885 | 1,578 | 7,878 | 12,372 |
| Finance lease liabilities | 46 | 110 | 38 | 124 | 318 |
| Other non-interest bearing liabilities | 2,303 | 396 | – | – | 2,699 |
| Derivatives payments | 598 | 2,477 | 975 | 1,179 | 5,229 |
| Derivatives receipts | (1,057) | (2,795) | (490) | (1,184) | (5,526) |
| Commodity contracts | 601 | 486 | 87 | 127 | 1,301 |
| Other contractual obligations | |||||
| Capital commitments | 1,167 | 287 | 33 | 6 | 1,493 |
| Operating leases | 82 | 152 | 163 | 549 | 946 |
| Energy commitments | 990 | 1,436 | 791 | 428 | 3,645 |
| Total at 31 March 2009 | 8,600 | 8,840 | 6,952 | 24,386 | 48,778 |