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Legislative Assembly for the ACT: 2003 Week 10 Hansard (25 September) . . Page.. 3714..


Actew Corporation Ltd

Paper and statement by minister

MR QUINLAN (Treasurer, Minister for Economic Development, Business and Tourism, and Minister for Sport, Racing and Gaming): For the information of members, I present the following paper:

Territory Owned Corporations Act, pursuant to section 19 (3)-ACTEW Corporation Ltd-Statement of Corporate Intent-2003/04 to 2006/07.

I seek leave to make a statement on the matter.

Leave granted.

MR QUINLAN: Mr Speaker, I advise members that, since the content of the statement of corporate intent was agreed between Actew and the voting shareholders, a number of significant events and circumstances have arisen that will materially influence the financial outcomes forecast for Actew Corporation Ltd that have not been reflected in this statement.

These are as follows: stage 3 water restrictions are planned for introduction in October 2003 for the summer peak demand. Obviously, that will have an impact on the revenue of the corporation. Stage 3 water restrictions target a 40 per cent reduction in water consumption. Actew Corporation estimates that the full year impact of stage 3 water restrictions will be a $8 million reduction in profit due to lower water sales.

Actew has called for tenders to upgrade the Googong Dam water treatment plant and to build a water treatment plant at Mount Stromlo. Capital expenditure on these two projects is currently estimated at about $50 million, with completion by the end of the calendar year 2004. Increased operating costs, especially from the extended use of the Googong water treatment plant, costing around $2 million a year will be incurred.

Paper

Mr Quinlan presented the following paper:

Australian Capital Tourism Corporation Act, pursuant to subsection 23 (8)-Australian Capital Tourism-2003-2007 Business Plan, dated 28 April 2003 and 1 May 2003.

Board of Inquiry into Disability Services

Paper and statement by minister

MR STANHOPE (Chief Minister, Attorney-General, Minister for Environment and Minister for Community Affairs): On behalf of Mr Wood and for the information of members, I present the following paper:

Inquiries Act-Disability services-

Implementation of the Government Response to the Recommendations of the


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