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Parliamentary Questions

Question Without Notice No. 808 asked in the Legislative Council on 14 October 2021 by Hon Dr Steve Thomas

Minister responding: Hon W.J. Johnston
Parliament: 41 Session: 1

Answered on

SYNERGY — GENERATION UNITS

808. Hon Dr STEVE THOMAS to the minister representing the Minister for Energy:

I refer to question without notice 783 on the capital values of Synergy generations, answered yesterday.

(1) Will the minister please provide the official definitions used by the government for ''current capital value'', ''listed depreciation value'' and ''impairment value''?

(2) Do any of the values listed in the answer to question 783 include provisions for decommissioning and rehabilitation; and, if so, where are each included and to what values?

(3) Given that the substantially newer Bluewaters power station has had its current capital value written down to zero by its private owners and given the significant taxpayer operating subsidies received by the Muja and Collie A power stations, why have they not had a complete asset writedown?

(4) Has Moody's and/or Standard and Poor's reviewed the asset values of the Muja and Collie A power stations; and, if so, on what date and what values did they ascribe?

Hon ALANNAH MacTIERNAN replied:

I thank the member for the question.

The Minister for Energy has provided the following answer.

(1) Synergy's 2021 annual report is prepared in accordance with Australian accounting standards.

(2) No.

(3) Synergy evaluates the requirements for asset writedowns from a whole-of-portfolio perspective rather than considering each asset individually.

(4) No.