Kim Booth Greens Energy spokesperson
Concerns Grow Over Hydro’s Financial Situation
The Tasmanian Greens today called for the release of Hydro Tasmania’s shareholder review of its Roaring 40s join venture saying that despite a statement being issued on Monday last week that the outcome of that review will be announced ‘shortly’, nothing had been forthcoming.
Greens Energy spokesperson Kim Booth MP said that rumours were circulating that Hydro’s finances were under pressure and that it may be looking at options including the divesting of all or some of its off-shore interests.
“Last week a media statement circulated by Hydro Tasmania confirmed that a major shareholder review of Hydro’s alternative energy company Roaring Forties had been conducted and that the outcome of this review was to be announced shortly, with many commentators expecting it by the end of last week,” Mr Booth said.
“If there is to be a partial sale of Hydro’s 50 per cent share in the Roaring 40s joint venture, the Tasmanian public deserve to know and they also deserve to know what this means for Hydro’s bottom line.”
“Should this review recommend that Hydro reduce is shares in the joint venture, it begs the question why it was that ex-Premier Paul Lennon gave Hydro a $50 million equity injection, taken from Transend, in late 2007?”
“Not withstanding the need for Hydro to first inform its staff of any imminent changes, the Tasmanian public is the ultimate shareholder in Hydro and its joint-ventures, and people need to be reassured of the direction in which our energy generator is going especially in these uncertain economic times.”
