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## Dividends received from associates and jointly controlled entities 

During the year, the consolidated entity received dividends of $nil (2010: $nil) from its associates and $24.3 million (2010: $26.6 million) from its jointly controlled entities. 

## Capital commitments and contingent liabilities 

The consolidated entity’s share of capital expenditure commitments and contingent liabilities of associates and jointly controlled entities are disclosed in Notes 37 and 39 respectively. 

## Impairment testing for Greater Energy Alliance Corporation Pty Limited 

As at 30 June 2011, the carrying value of the consolidated entity’s interest in Greater Energy Alliance Corporation Pty Limited (GEAC) of $326.7 million (2010: $281.3 million), comprised an equity accounted investment of $212.0 million (2010: $177.2 million) (Note 17), loan notes receivable of $110.6 million (2010: $100.4 million) (Note 22) and interest receivable of $4.1 million (2010: $3.7 million) (Note 12) (‘Loy Yang Interest’). 

The carrying value of the Loy Yang Interest has been tested for impairment at 30 June 2011 using a value in use model, and no impairment loss has been recognised (2010: $nil). The key assumptions in the calculation of value in use are electricity load demand forecasts and electricity price paths, coal and gas procurement costs, other plant operating costs and regulatory outcomes including the introduction of a CO$_{2}$ emissions reduction scheme. In addition, the value in use model assumes that GEAC will successfully refinance a $565 million core debt bullet repayment due for repayment in November 2012. Cash flow forecasts are based on management forecasts for the remaining life of the plant. 

