Legislative Assembly for the ACT: 2012 Week 4 Hansard (27 March) . . Page.. 1292..
Obviously, the latest flood event will add further time and costs to the project which will not be known for several weeks. Therefore, the board is yet to accept or approve any revision to the project budget or schedule.
The board's slide presentation also suggests that Actew's additional costs may be partly offset by $11 million in savings from other water security projects. This could possibly be reduced further after taking into account some $13 million in potential research and tax concessions. Bearing in mind that the delays caused by the most recent flood will add further cost to the project, the preliminary estimated overall Actew cost increase for the major water security projects was expected to be in the order of $9.5 million.
I would like at this point to acknowledge that the slide presentation tabled here today has been partially redacted to protect commercially sensitive information. I am sure that members of the Assembly respect that information contained in the original documents includes matters which may subsequently involve, or impact on, insurance claims and contractual arrangements with Actew's alliance partners.
I am sure that members would not wish to prejudice Actew's position in relation to these matters. However, I would be pleased to offer members a confidential briefing with Actew's managing director to explain in more detail any matter contained in these documents.
The voting shareholders have been kept informed of the progress and significant matters affecting the enlarged Cotter Dam. The board information document that contained the redundant revised estimated cost and project details was made available the day the board was informed. As members would be well aware, these revised costs and schedules were overtaken by the recent flooding.
Since the flood the shareholders have been receiving weekly updates on the progress of addressing the flood event at the dam. We will receive an updated cost and project schedule when it becomes available. When these documents become available we will provide those to the Assembly in accordance with parts 2(b), (c), (d) and (e) of the Assembly resolution.
Members, Actew has made no secret of the pressure on the project's budget and schedule. The facts about the cost increase will not be known until after the clean-up of the recent flood and after Actew has time to undertake a robust analysis. I move:
That the Assembly takes note of the papers.
Debate (on motion by Mr Smyth) adjourned to the next sitting.
Health—drug and alcohol rehabilitation services
Statement by minister
MS GALLAGHER (Molonglo—Chief Minister, Minister for Health and Minister for Territory and Municipal Services), by leave: Today I provide the Assembly with an