Legislative Council Thursday 4 June, 2020

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

I believe this question will probably have answers that will be sent back. We will put this one on the record as well, in case late entries arrived for correction.

This is a follow-up question to an answer received on 25 March 2020, wherein it was stated that the underlying cause of the decline in the value of Hydro Tasmania's balance sheet of $195.83 million was a commercial-in-confidence matter not to be shared with the beneficial owners, the people of Tasmania.

I note the Government has been trying to gain support for various projects to build on our strengths in renewable energy generation. Adopting a secretive approach appears to undermine the search for a social and economic licence, especially given the balance sheet loss representing almost 10 per cent of Hydro Tasmania's value.

(1) Was the Government aware of the terms of the contract to which this loss relates, before it was signed?

(2) Did the Government have any input into the terms and conditions of this contract?

(3) Did the Government insist on any specific conditions as they related to prices and/or the term of the contract, or is it left entirely to the discretion of Hydro Tasmania's board?

(4) What was the term of the contract?

(5) When was this contract signed?

ANSWER

Mr President, I thank the member for her questions and note them.