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Parliamentary Questions

Question Without Notice No. 550 asked in the Legislative Council on 4 June 2019 by Hon Peter Collier

Minister responding: Hon W.J. Johnston
Parliament: 40 Session: 1

Answered on 4 June 2019

SYNERGY — OPERATING FORECASTS

550. Hon PETER COLLIER to the minister representing the Minister for Energy:

I refer to page 266 of budget paper No 3.

(1) What is the forecast profit/loss of Synergy by both group and corporation for the financial years —

(a) 2020–21;

(b) 2021–22; and

(c) 2022–23?

(2) What is the forecast net cash flows from the financing activities of Synergy by both group and corporation for the financial years —

(a) 2020–21;

(b) 2021–22; and

(c) 2022–23?

(3) What is the forecast cash and cash equivalents position at 30 June of Synergy by both group and corporation for the financial years —

(a) 2020–21;

(b) 2021–22; and

(c) 2022–23?

Hon STEPHEN DAWSON replied:

I thank the honourable Leader of the Opposition for some notice of the question. The following information has been provided to me by the Minister for Energy.

Please be advised that Synergy forecasts as a group only.

(1) The forecast profit/loss of Synergy was —

(a) $66 million net loss after tax in 2020–21;

(b) $66 million net loss after tax in 2021–22; and

(c) $47 million net loss after tax in 2022–23.

(2) The forecast net cash flows from the financing activities of Synergy were —

(a) $50 million, representing receipts from additional borrowings, in 2020–21;

(b) $50 million, representing receipts from additional borrowings in 2021–22; and

(c) nil in 2022–23.

(3) The forecast cash and cash equivalent position for Synergy as at 30 June was —

(a) $86 million in 2020–21;

(b) $92 million in 2021–22; and

(c) $72 million in 2022–23.