❓ Mr. Johnston questions the Energy Minister about the impact of Synergy competing with Premier Coal, given the government's potential equity in Premier Coal. The Minister denies current equity and defends Synergy's contract with Worsley as a result of competition.
AnsweredQoN 777Legislative Assembly
QuestionView source ↗
SYNERGY — COAL SALES
777. Mr W.J. JOHNSTON to the Minister for
Energy:
I have a supplementary question.
Given that the government has an equity exposure to Premier Coal, what is the
impact on the profitability of Premier Coal of the decision by Synergy to go
into competition with Premier Coal?
777. Mr W.J. JOHNSTON to the Minister for
Energy:
I have a supplementary question.
Given that the government has an equity exposure to Premier Coal, what is the
impact on the profitability of Premier Coal of the decision by Synergy to go
into competition with Premier Coal?
AnswerView source ↗
As the member should know, we have
the option to convert money into equity. We have not taken up that option, so
we have no equity in it. I guess the member has a hearing problem, or maybe a
comprehension problem. But it is a competitive world out there, and Premier
Coal could supply the coal. Worsley has no doubt approached both Synergy and
Premier Coal, and has decided with Synergy. That is what competition is. I am
very happy to have approved SynergyXXX ###XXXs entry
into a short-term supply contract with Worsley. That is what competition is
about.
the option to convert money into equity. We have not taken up that option, so
we have no equity in it. I guess the member has a hearing problem, or maybe a
comprehension problem. But it is a competitive world out there, and Premier
Coal could supply the coal. Worsley has no doubt approached both Synergy and
Premier Coal, and has decided with Synergy. That is what competition is. I am
very happy to have approved SynergyXXX ###XXXs entry
into a short-term supply contract with Worsley. That is what competition is
about.
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