❓ Dr. Steve Thomas questions the Treasurer regarding the factors considered when determining the $220 million bailout for Griffin Coal, particularly concerning electricity prices and potential political fallout. The Treasurer's response provides a general overview of the calculation.
AnsweredQoN 242Legislative Council
QuestionView source ↗
GRIFFIN COAL —
GRANTS
242. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
I refer to my question without
notice 64 asked on 29 February 2024, which was answered with the statement that
the $220 million bail out of the insolvent and foreign-owned Griffin Coal was
calculated by ''the Departments of the Premier and Cabinet and Treasury,
taking a range of factors and inputs into account''.
(1) What factors
did Treasury take into account in arriving at this figure?
(2) Was the price
of electricity for consumers one of those factors?
(3) Has Treasury
modelled what the impact on electricity prices would be if Griffin Coal had to
be paid a higher rate for coal in line with the government's continued
calls for a fair price to be paid?
(4) Was the
political fallout of higher power process resulting from the higher coal prices
considered in determining the subsidy amount for Griffin Coal?
GRANTS
242. Hon Dr STEVE THOMAS to the minister representing the
Treasurer:
I refer to my question without
notice 64 asked on 29 February 2024, which was answered with the statement that
the $220 million bail out of the insolvent and foreign-owned Griffin Coal was
calculated by ''the Departments of the Premier and Cabinet and Treasury,
taking a range of factors and inputs into account''.
(1) What factors
did Treasury take into account in arriving at this figure?
(2) Was the price
of electricity for consumers one of those factors?
(3) Has Treasury
modelled what the impact on electricity prices would be if Griffin Coal had to
be paid a higher rate for coal in line with the government's continued
calls for a fair price to be paid?
(4) Was the
political fallout of higher power process resulting from the higher coal prices
considered in determining the subsidy amount for Griffin Coal?
AnswerView source ↗
I thank the honourable member for
some notice of the question. The following answer has been provided to me by
the Treasurer.
(1)–(4) Up to $220 million has been allocated to support
continued operations at Griffin Coal, secure the electricity system and
protect Collie jobs. This allocation was calculated using forecast coal
production costs, volumes and revenues.
some notice of the question. The following answer has been provided to me by
the Treasurer.
(1)–(4) Up to $220 million has been allocated to support
continued operations at Griffin Coal, secure the electricity system and
protect Collie jobs. This allocation was calculated using forecast coal
production costs, volumes and revenues.
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