content_image/167899.jpg content_image/167896.jpg content_image/167895.jpg
The following table details the cross currency swap contracts outstanding at the end of the reporting period: 

<img src='content_image/167899.jpg'>

The following table details the movements in the hedging reserve from forward foreign exchange contracts and cross currency swap contracts: 

<img src='content_image/167896.jpg'>

## Foreign currency sensitivity 

The following table details the sensitivity to a 10% increase or decrease in the Australian dollar against the relevant foreign currencies. 

A sensitivity of 10% has been used as this is considered reasonable given the current level of exchange rates and the volatility observed both on a historical basis and market expectations for future movements. 

The sensitivity analysis includes only outstanding foreign currency denominated financial instruments and adjusts their translation at the end of the reporting period for a 10% change in foreign currency rates. 

At the end of the reporting period, if the Australian dollar had been 10% higher or lower and all other variables were held constant, the consolidated entity’s profit after tax and other comprehensive income would have been affected as follows: 

<img src='content_image/167895.jpg'>

The movement in other comprehensive income is due to an increase/decrease in the fair value of forward foreign exchange contracts designated as cash flow hedges. 

## (g) Energy price risk management 

The consolidated entity is exposed to energy price risk associated with the purchase and/or sale of electricity, gas and environmental products. 

The consolidated entity manages energy risk through an established risk management framework consisting of policies to place appropriate risk limits on overall energy market exposures and transaction limits for approved energy commodities, requirements for delegations of authority on trading, regular reporting of exposures and segregation of duties. 

It is the policy of the consolidated entity to actively manage the electricity price exposure arising from both forecast electricity generation and retail customer electricity load. The consolidated entity’s risk management policy for electricity price risk is to hedge forecast future transactions for up to five years into the future. 

Exposures to fluctuations in the wholesale market electricity prices are managed through the use of various types of derivative financial instruments. 

