Legislative Council Thursday 19 March, 2020

Ms FORREST question to LEADER of the GOVERNMENT in the LEGISLATIVE COUNCIL, Mrs HISCUTT

I refer to the 2019 annual report for Hydro Tasmania. Note 16 on page 51 of that report includes an amount of $195.83 million recognised as an additional provision for onerous contracts. What does this relate to?

ANSWER

I thank the member for Murchison for her question.

Hydro Tasmania follows accounting standards on how to recognise onerous contracts relating to the sale and purchase of certain products on its balance sheet. The contract themselves are commercial-in-confidence.