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In keeping with the TOC Act, ACTEW will be incorporated under the Commonwealth Corporations Law and wholly owned by the Territory. The only voting shareholders will the Chief Minister and the responsible Minister on behalf of this community. As such, ACTEW will therefore continue to be owned by the Territory, but it will be separated from the broader public service. It is entirely appropriate, Mr Speaker, that it be freed up from the bureaucratic constraints. This will give it the flexibility to compete more effectively. The board of directors will be appointed by the Government in consultation with members. We will ensure that the directors will be of high quality and proven ability and have a commitment to the Territory. The Government, as the shareholders, is concerned with the achievements of environmental, community and business objectives. We therefore intend to appoint directors with appropriate skills and experience to achieve these objectives.

The process and effect of corporatisation and quality of service to its customers, large or small, are not mutually exclusive; quite the contrary. Customers are the reason for ACTEW’s existence. Each customer has been and will continue to be recognised as an individual deserving of the best possible service. Those customers are the people of Canberra, the community, the people who ultimately set the framework within which the organisation works. None of this will change with corporatisation. There has been no shortage of dissembling by those sitting opposite on the consequences of corporatisation. I have already indicated what benefits corporatisation will bring. It is now appropriate to set out what it does not mean.

Mr Speaker, there will be no job losses as a result of corporatisation. There will be no price rises as a result of corporatisation. There will be no reduction in services to the people of Canberra as a result of corporatisation. Standards will not fall. To say otherwise would be an insult to the workers within ACTEW. Those who are unable to pay their bills will still have the same safeguards that exist today. The statutory safeguards that exist through the operations of the Essential Services Review Committee will remain in force. Pensioners and low income earners will not be disadvantaged. The rights they have today will still be there on 1 July, when corporatisation takes effect. If power failures occur in the middle of the night, ACTEW workers will still be there to put the power back on. In short, Mr Speaker, when it comes to service and the expectations of the community, corporatisation will not reduce these at all.

As I stated earlier, Mr Speaker, this Government is committed to ensuring that ACTEW continues to uphold its community service obligations. The Territory Owned Corporations Act provides that the corporation can be directed by its shareholders - the Chief Minister and the responsible Minister - to carry out community service obligations. I give the undertaking to this Assembly that this will be the case under a Liberal administration. Schools will still receive the same reductions as they receive today. So, too, will charitable organisations and churches.

By corporatising ACTEW, the Government is looking to ACTEW to hold down its costs and pay a fair dividend to the Government that reflects the capital tied up in the distribution of electricity, water and sewerage in the ACT. As the Government will continue to be the owner of the corporation, we will ensure that ACTEW prices remain fair and competitive. Mr Osborne has given notice of an amendment which will make sure that that happens even more. As part of a move to a national electricity market to

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