❓ Dr. Steve Thomas questions the Minister for Energy regarding the valuation and potential writedown of Synergy's Muja and Collie A power stations, particularly in comparison to the Bluewaters power station and considering taxpayer subsidies. The Minister's response is brief, referencing accounting standards and a portfolio-wide approach to asset valuation.
AnsweredQoN 808Legislative Council
QuestionView source ↗
SYNERGY — GENERATION UNITS
808. Hon Dr STEVE THOMAS to the minister representing the
Minister for Energy:
I refer to question without notice
783 on the capital values of Synergy generations, answered yesterday.
(1) Will the minister please provide the official
definitions used by the government for ''current capital value'', ''listed depreciation value'' and ''impairment value''?
(2) Do any of the
values listed in the answer to question 783 include provisions for
decommissioning and rehabilitation; and, if so, where are each included and to
what values?
(3) Given that
the substantially newer Bluewaters power station has had its current capital
value written down to zero by its private owners and given the significant
taxpayer operating subsidies received by the Muja and Collie A power stations,
why have they not had a complete asset writedown?
(4) Has Moody's and/or Standard and Poor's
reviewed the asset values of the Muja and Collie A power stations ; and,
if so, on what date and what values did they ascribe?
808. Hon Dr STEVE THOMAS to the minister representing the
Minister for Energy:
I refer to question without notice
783 on the capital values of Synergy generations, answered yesterday.
(1) Will the minister please provide the official
definitions used by the government for ''current capital value'', ''listed depreciation value'' and ''impairment value''?
(2) Do any of the
values listed in the answer to question 783 include provisions for
decommissioning and rehabilitation; and, if so, where are each included and to
what values?
(3) Given that
the substantially newer Bluewaters power station has had its current capital
value written down to zero by its private owners and given the significant
taxpayer operating subsidies received by the Muja and Collie A power stations,
why have they not had a complete asset writedown?
(4) Has Moody's and/or Standard and Poor's
reviewed the asset values of the Muja and Collie A power stations ; and,
if so, on what date and what values did they ascribe?
AnswerView source ↗
I thank the member for the question.
The Minister for Energy has provided
the following answer.
(1) Synergy's 2021 annual
report is prepared in accordance with Australian accounting standards.
(2) No.
(3) Synergy
evaluates the requirements for asset writedowns from a whole-of-portfolio
perspective rather than considering each asset individually.
(4) No.
The Minister for Energy has provided
the following answer.
(1) Synergy's 2021 annual
report is prepared in accordance with Australian accounting standards.
(2) No.
(3) Synergy
evaluates the requirements for asset writedowns from a whole-of-portfolio
perspective rather than considering each asset individually.
(4) No.
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