❓ WA Parliamentary Question regarding Synergy's debt, repayments, and government guarantee fees. The answer provides specific figures for current debt, historical and projected guarantee fee payments.
AnsweredQoN 5402Legislative Assembly
QuestionView source ↗
I refer to Synergy's - and any subsidiaries - debts and repayments and ask: (a) what is the current amount of Synergy's debts at the present date; (b) what is the amount of the current,"Loan Guarantee Fee", paid by Synergy to the State, and has this Loan Guarantee Fee changed since the 2012 financial year and if so how; (c) what was the total amount in dollar terms paid by Synergy to the State by way of Loan Guarantee Fee in: (i) 2012/13; (ii) 2013/14; (iii) 2014/15; and (iv) 2015/16; and (d) what is the budgeted amount expected to be paid by Synergy to the Government by way of the Loan Guarantee Fee for the out years: (i) 2016/17; (ii) 2017/18; and (iii) 2018/19?
AnswerView source ↗
Answered
14 June 2016
Responded by
Minister for Energy
Response time
47 days
(a) $254 million
(b) “Loan guarantee fee” is assumed to be the government guarantee fee (GGF) as charged by Western Australian Treasury Corporation (WATC).
The GGF is $1.5 million (to 31 March 2016).
The GGF is the same as in the 2012 financial year, 0.7% per annum.
From 1 July 2015 a new method for charging the GGF was implemented. The change decoupled GGF payments from loan maturity payments. This better represents the GGF as a charge on debt held and differentiates from interest payments on individual loans.
(c) (i) $5.0 million (reflects payments made by Verve Energy. The former Synergy did not have any government borrowings on its books) (ii) $3.9 million (iii) $1.7 million (iv) $1.5 million (to 31 March 2016)
(d) (i) $1.8 million (ii) $1.2 million (iii) $0.8 million
(b) “Loan guarantee fee” is assumed to be the government guarantee fee (GGF) as charged by Western Australian Treasury Corporation (WATC).
The GGF is $1.5 million (to 31 March 2016).
The GGF is the same as in the 2012 financial year, 0.7% per annum.
From 1 July 2015 a new method for charging the GGF was implemented. The change decoupled GGF payments from loan maturity payments. This better represents the GGF as a charge on debt held and differentiates from interest payments on individual loans.
(c) (i) $5.0 million (reflects payments made by Verve Energy. The former Synergy did not have any government borrowings on its books) (ii) $3.9 million (iii) $1.7 million (iv) $1.5 million (to 31 March 2016)
(d) (i) $1.8 million (ii) $1.2 million (iii) $0.8 million
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