Page 2802 - Week 09 - Thursday, 8 August 2013

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Item	Forecast based on May 2013 ECD Cost Statement $m
Pre Target Outturn Cost (TOC)	37
ECD Construction inclusive of NOP Fees	342
Fish Studies & Habitat	6
Cotter Precinct	9
Quality Pool	3
Owner's Costs	7
Net Impact of Flood (net of insurance refund)	5
Total	409

(b) Target Outturn Cost (TOC)

The TOC estimate for the construction of the Cotter Dam as agreed in August 2009 was $263.4 million, with a NOP fee of $35.6 million, giving a total of $299 million. The total project cost estimate including pre TOC costs, Fish Studies and Habitat, Quality Pool and Owner’s Costs - was $363 million. The table below provides a breakdown of these estimates.

Item	TOC Budget $m
Pre TOC	37
ECD Construction inclusive of NOP Fees	299
Fish Studies & Habitat	5
Cotter Precinct	8
Quality Pool	4
Owner's Costs	10
Net Impact of Flood	0
Total	363

(c) Gainshare / Painshare amounts

Under the Bulk Water Alliance (BWA) Program Alliance Agreement (PAA) the NOP fees for the Enlarged Cotter Dam are subject to Gainshare/Painshare under the financial model agreed at the time of signing the TOC. The table below shows a summary of the TOC fee versus estimated position of ‘Painshare’ at the end of the project. Painshare/Gainshare may be impacted by the resolution of the insurance claims for flood.

Fee	TOC Agreed NOP Fee $m	Estimated NOP Fee at Project Completion $m
TOC Agreed NOP Fee	35.6	35.6
(Pain)/Gain adjustment to NOP Fee		29.2
Residual Fee		6.4

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