Page 633 - Week 02 - Thursday, 24 March 2022
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Answers to questions
ActewAGL—partnership
(Question No 489)
Mrs Kikkert asked the Minister for Water, Energy and Emissions Reduction, upon notice, on 8 October 2021 (redirected to the Treasurer):
(1) When did Jemena Ltd and Icon Water Limited enter into a partnership to form ActewAGL Distribution Partnership.
(2) How often do these businesses have to formally renew their partnership.
(3) How is the chairman of the board selected.
(4) Are there any rules that determine whether Icon Water or Jemena have preference in selecting the chairman of the board.
(5) Is there a formal profit-sharing agreement between the two organisations; if so, what is the profit split.
(6) Is Evoenergy owned equally by Jemena Ltd and Icon Water Limited; if not, which organisation owns the greater share.
(7) If there is an unequal ownership, has the unequal ownership been the case since the establishment of Evoenergy.
Mr Barr: The answer to the member’s question is as follows:
1. The ActewAGL Distribution Partnership was formed by a partnership agreement entered into on 29 August 2000 by the AGL Gas Company (ACT) Ltd (now known as Jemena Networks (ACT) Pty Ltd) and Ecowise Services Ltd (now known as Icon Distribution Investments Ltd).
2. The ActewAGL Distribution Partnership continues until terminated in accordance with the Umbrella Agreement. There is no provision for “renewal” of the partnership in the agreement.
3. The ActewAGL Distribution Partnership and the ActewAGL Retail Partnership are governed by a single Partnership Board. The Partnership Board is comprised of three members appointed by Icon Distribution Investments Ltd and Icon Retail Investments Ltd, two members appointed by Jemena Networks (ACT) Pty Ltd and one member appointed by AGL ACT Retail Investments Pty Ltd. The Jemena and AGL partners are considered collectively to be the AGL Partners for the purposes of appointment of the Chair of the Partnership Board. The Chair must be selected from one of the six members of the Partnership Board and holds office for two years. The Actew (Icon) Partners and the AGL Partners alternately appoint the Chair every two years.
4. See the response to question 3 which sets out how the decision is made by the partners which is in accordance with the provisions of the Umbrella Agreement.
5. Both the ActewAGL Distribution Partnership Agreement and the ActewAGL Retail Partnership Agreement provide that the partners share in the profits and liabilities of those partnerships on a 50:50 basis.
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