Page 2190 - Week 06 - Monday, 11 May 2009
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(1) In relation to the ACTEW Corporation’s 2007-08 annual report, what is the progress on the water security infrastructure projects (a) enlargement of Cotter Dam, (b) securing of supply from Tantangara and (c) the demonstration water purification plant and when are these projects likely to be commissioned into production.
(2) What will be the total cost of the projects outlined in part (1) including financing costs and how will they be paid for and over what period.
Mr Corbell: The answer to the member’s question is as follows:
(1) I announced on 25 March 2009 that the Government had agreed to ACTEW proceeding with the construction of the Murrumbidgee to Googong pipeline and to implementing the Tantangara Transfer option. The Government had previously approved construction of the enlarged Cotter Dam in October 2007.
In relation to:
(a) The enlarged Cotter Dam – ACTEW has advised that planning is well advanced and that the Environmental Impact Statement for the project that ACTEW has submitted to ACTPLA is under consideration. Work is anticipated to begin in August this year and be completed in April 2011.
(b) The Tantangara Transfer option - ACTEW has advised that it is currently engaged in negotiations with Snowy Hydro Ltd over protocols to allow the storage of water in Tantangara Reservoir and its release to the Upper Murrumbidgee River; with the NSW Government over protocols to allow transfer of the water from the Murrumbidgee to Googong Reservoir via the Murrumbidgee to Googong pipeline; and that it is purchasing water entitlements in the market place.
(c) The Demonstration Water Purification Plant – the Government has decided, on ACTEW’s recommendation, that while the proposed project is feasible it can be deferred if the expanded Cotter Dam and Murrumbidgee to Googong pipeline projects proceed, and if inflows to the storages do not further deteriorate.
(2) ACTEW has advised that it does not expect to have certainty as to total costs until mid 2009. The infrastructure will be paid for by borrowings and repaid over the term of the borrowings.
Actew—profit increases
(Question No 111)
Mrs Dunne asked the Treasurer, upon notice, on 24 March 2009:
(1) In relation to the ACTEW Corporation’s 2007-08 annual report, is the increase in profit, $11.5 million, derived as a result of increased water tariff charges, going to be quarantined for the infrastructure projects; if so, how and in what manner.
(2) Why did the ACT Government get an increased dividend when the increased profit came from increased water prices determined for the purpose of the water security infrastructure projects.
Ms Gallagher: The answer to the member’s question is as follows:
(1) As highlighted on page 31 and 32 of the Annual Report, ACTEW’s profit mainly increased as a result of improved performance from the ActewAGL Joint Venture
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