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Parliamentary Questions

Question Without Notice No. 552 asked in the Legislative Council on 5 June 2019 by Hon Peter Collier

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

Answered on

SYNERGY — 2019–20 BUDGET

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

I refer to page 78 of Synergy's 2018 annual report.

(1) As at the 2019–20 budget, what is the forecast cash and short-term deposits amount for each of 2019–20, 2020–21, 2021–22 and 2022–23?

(2) As at the 2019–20 budget, what is the forecast interest-bearing loans and borrowings amount for each of 2019–20, 2020–21, 2021–22 and 2022–23?

(3) As at the 2019–20 budget, what is the forecast amount of accumulated losses for each of 2019–20, 2020–21, 2021–22 and 2022–23?

Hon STEPHEN DAWSON replied:

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

(1) The closing cash and cash equivalents amount in 2019–20 is $110 million; in 2020–21, it is $86 million; in 2021–22, it is $92 million; and in 2022–23, it is $150 million.

(2) The closing borrowings balance in 2019–20 is $103 million; in 2020–21, it is $150 million; in 2021–22, it is $200 million; and in 2022–23, it is $200 million.

(3) Noting that the accumulated losses since the commencement of the Synergy business start from the $367 million loss position, as outlined in the 2018 annual report, the accumulated losses in 2019–20 are $419 million; in 2020–21, they are $485 million; in 2021–22, they are $550 million; and in 2022–23, they are $597 million.