Legislative Council Tuesday 17 November, 2020

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

The Treasurer's Annual Financial Report 2019 20 notes on page 83, Regarding other liabilities, $620 million in onerous contracts relate to Hydro Tasmania's onerous contracts.

(1) Why are the onerous contracts related to Aurora not included in this line item?

(2) If the liability related to Aurora's onerous contracts is noted, where is it noted?

(3) If these have been omitted will this be corrected?

ANSWER

Mr President, I thank the member for Murchison for her question.

(1) Page 88 represents the onerous contracts liability of $260 million. The footnote outlines this liability as it -

is related to gas contracts, lease liabilities and large-scale generation certificates from Hydro Tasmania.

The onerous contract provision of $29 million held by Aurora Energy Pty Ltd relates to energy purchase contracts. This item has been recognised separately and is represented within the line item 'Other' of $299 million on page 83. This is consistent with the presentation for the 2018 19.

(2) As noted above, this item is presented with other liabilities of $299 million, on page 83.

(3) This liability has not been omitted and no change is required to the report.

My advisor tells me I may have given you the wrong page number for question (1); page 83.