❓ Mr. Trenorden questions the Minister for Energy about honoring commitments to call for tenders for power provision to the West Kimberley, including tidal power, given reported Federal funding. The Minister affirms the State's commitment but highlights funding discrepancies and conditions with the Commonwealth.
AnsweredQoN 920Legislative Assembly
QuestionView source ↗
I refer to the minister’s announcement in March that he had set a deadline of 12 April to call a tender process for the provision of power to the west Kimberley, with or without federal government support for tidal power. As the minister knows, the National Party supports that position. (1) Given the reports that the federal Government has committed $25 million for a Derby tidal power initiative, will the minister honour his commitment to call for tenders and include tidal power as an option in that tender process? (2) Will the minister commit funds in support of a tidal power option? Mr RIPPER
AnswerView source ↗
(1)-(2) The Labor Party made a commitment prior to the election that $15 million would be available to support a Derby tidal power project. That commitment stands. The State is prepared to provide $15 million to fund roadworks or other infrastructure to support a tidal power project and to sign a power purchase agreement worth $500 million or $600 million over 18 or 25 years. A tidal power project would have to deliver a competitive electricity price. There is no doubt about the State’s commitment to a tidal power project. However, the Commonwealth has not focused on this issue since it carried out a due diligence study a couple of years ago. I wrote three times to the Prime Minister following the collapse of the Leader of the Opposition’s deal for a west Kimberley power supply. The Prime Minister finally responded after he received my third letter. He did not respond to my third letter but to my second letter, and suggested talks. I sent a high -level delegation to Canberra to try to firm up the Commonwealth’s position. Commonwealth bureaucrats have advised that the protocols between the State and Commonwealth prevent me from discussing in detail the commonwealth offer. Media reports have stated that the Commonwealth has offered $25 million for a tidal power protect. That relates to a proposal for tidal power that was associated with a zinc refinery. I understand that the proposal will no longer go ahead. Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
(1) Given the reports that the federal Government has committed $25 million for a Derby tidal power initiative, will the minister honour his commitment to call for tenders and include tidal power as an option in that tender process? (2) Will the minister commit funds in support of a tidal power option? Mr RIPPER replied: (1)-(2) The Labor Party made a commitment prior to the election that $15 million would be available to support a Derby tidal power project. That commitment stands. The State is prepared to provide $15 million to fund roadworks or other infrastructure to support a tidal power project and to sign a power purchase agreement worth $500 million or $600 million over 18 or 25 years. A tidal power project would have to deliver a competitive electricity price. There is no doubt about the State’s commitment to a tidal power project. However, the Commonwealth has not focused on this issue since it carried out a due diligence study a couple of years ago. I wrote three times to the Prime Minister following the collapse of the Leader of the Opposition’s deal for a west Kimberley power supply. The Prime Minister finally responded after he received my third letter. He did not respond to my third letter but to my second letter, and suggested talks. I sent a high -level delegation to Canberra to try to firm up the Commonwealth’s position. Commonwealth bureaucrats have advised that the protocols between the State and Commonwealth prevent me from discussing in detail the commonwealth offer. Media reports have stated that the Commonwealth has offered $25 million for a tidal power protect. That relates to a proposal for tidal power that was associated with a zinc refinery. I understand that the proposal will no longer go ahead. Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
(2) Will the minister commit funds in support of a tidal power option? Mr RIPPER replied: (1)-(2) The Labor Party made a commitment prior to the election that $15 million would be available to support a Derby tidal power project. That commitment stands. The State is prepared to provide $15 million to fund roadworks or other infrastructure to support a tidal power project and to sign a power purchase agreement worth $500 million or $600 million over 18 or 25 years. A tidal power project would have to deliver a competitive electricity price. There is no doubt about the State’s commitment to a tidal power project. However, the Commonwealth has not focused on this issue since it carried out a due diligence study a couple of years ago. I wrote three times to the Prime Minister following the collapse of the Leader of the Opposition’s deal for a west Kimberley power supply. The Prime Minister finally responded after he received my third letter. He did not respond to my third letter but to my second letter, and suggested talks. I sent a high -level delegation to Canberra to try to firm up the Commonwealth’s position. Commonwealth bureaucrats have advised that the protocols between the State and Commonwealth prevent me from discussing in detail the commonwealth offer. Media reports have stated that the Commonwealth has offered $25 million for a tidal power protect. That relates to a proposal for tidal power that was associated with a zinc refinery. I understand that the proposal will no longer go ahead. Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
Mr RIPPER replied: (1)-(2) The Labor Party made a commitment prior to the election that $15 million would be available to support a Derby tidal power project. That commitment stands. The State is prepared to provide $15 million to fund roadworks or other infrastructure to support a tidal power project and to sign a power purchase agreement worth $500 million or $600 million over 18 or 25 years. A tidal power project would have to deliver a competitive electricity price. There is no doubt about the State’s commitment to a tidal power project. However, the Commonwealth has not focused on this issue since it carried out a due diligence study a couple of years ago. I wrote three times to the Prime Minister following the collapse of the Leader of the Opposition’s deal for a west Kimberley power supply. The Prime Minister finally responded after he received my third letter. He did not respond to my third letter but to my second letter, and suggested talks. I sent a high -level delegation to Canberra to try to firm up the Commonwealth’s position. Commonwealth bureaucrats have advised that the protocols between the State and Commonwealth prevent me from discussing in detail the commonwealth offer. Media reports have stated that the Commonwealth has offered $25 million for a tidal power protect. That relates to a proposal for tidal power that was associated with a zinc refinery. I understand that the proposal will no longer go ahead. Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
(1)-(2) The Labor Party made a commitment prior to the election that $15 million would be available to support a Derby tidal power project. That commitment stands. The State is prepared to provide $15 million to fund roadworks or other infrastructure to support a tidal power project and to sign a power purchase agreement worth $500 million or $600 million over 18 or 25 years. A tidal power project would have to deliver a competitive electricity price. There is no doubt about the State’s commitment to a tidal power project. However, the Commonwealth has not focused on this issue since it carried out a due diligence study a couple of years ago. I wrote three times to the Prime Minister following the collapse of the Leader of the Opposition’s deal for a west Kimberley power supply. The Prime Minister finally responded after he received my third letter. He did not respond to my third letter but to my second letter, and suggested talks. I sent a high -level delegation to Canberra to try to firm up the Commonwealth’s position. Commonwealth bureaucrats have advised that the protocols between the State and Commonwealth prevent me from discussing in detail the commonwealth offer. Media reports have stated that the Commonwealth has offered $25 million for a tidal power protect. That relates to a proposal for tidal power that was associated with a zinc refinery. I understand that the proposal will no longer go ahead. Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
(1) Given the reports that the federal Government has committed $25 million for a Derby tidal power initiative, will the minister honour his commitment to call for tenders and include tidal power as an option in that tender process? (2) Will the minister commit funds in support of a tidal power option? Mr RIPPER replied: (1)-(2) The Labor Party made a commitment prior to the election that $15 million would be available to support a Derby tidal power project. That commitment stands. The State is prepared to provide $15 million to fund roadworks or other infrastructure to support a tidal power project and to sign a power purchase agreement worth $500 million or $600 million over 18 or 25 years. A tidal power project would have to deliver a competitive electricity price. There is no doubt about the State’s commitment to a tidal power project. However, the Commonwealth has not focused on this issue since it carried out a due diligence study a couple of years ago. I wrote three times to the Prime Minister following the collapse of the Leader of the Opposition’s deal for a west Kimberley power supply. The Prime Minister finally responded after he received my third letter. He did not respond to my third letter but to my second letter, and suggested talks. I sent a high -level delegation to Canberra to try to firm up the Commonwealth’s position. Commonwealth bureaucrats have advised that the protocols between the State and Commonwealth prevent me from discussing in detail the commonwealth offer. Media reports have stated that the Commonwealth has offered $25 million for a tidal power protect. That relates to a proposal for tidal power that was associated with a zinc refinery. I understand that the proposal will no longer go ahead. Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
(2) Will the minister commit funds in support of a tidal power option? Mr RIPPER replied: (1)-(2) The Labor Party made a commitment prior to the election that $15 million would be available to support a Derby tidal power project. That commitment stands. The State is prepared to provide $15 million to fund roadworks or other infrastructure to support a tidal power project and to sign a power purchase agreement worth $500 million or $600 million over 18 or 25 years. A tidal power project would have to deliver a competitive electricity price. There is no doubt about the State’s commitment to a tidal power project. However, the Commonwealth has not focused on this issue since it carried out a due diligence study a couple of years ago. I wrote three times to the Prime Minister following the collapse of the Leader of the Opposition’s deal for a west Kimberley power supply. The Prime Minister finally responded after he received my third letter. He did not respond to my third letter but to my second letter, and suggested talks. I sent a high -level delegation to Canberra to try to firm up the Commonwealth’s position. Commonwealth bureaucrats have advised that the protocols between the State and Commonwealth prevent me from discussing in detail the commonwealth offer. Media reports have stated that the Commonwealth has offered $25 million for a tidal power protect. That relates to a proposal for tidal power that was associated with a zinc refinery. I understand that the proposal will no longer go ahead. Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
Mr RIPPER replied: (1)-(2) The Labor Party made a commitment prior to the election that $15 million would be available to support a Derby tidal power project. That commitment stands. The State is prepared to provide $15 million to fund roadworks or other infrastructure to support a tidal power project and to sign a power purchase agreement worth $500 million or $600 million over 18 or 25 years. A tidal power project would have to deliver a competitive electricity price. There is no doubt about the State’s commitment to a tidal power project. However, the Commonwealth has not focused on this issue since it carried out a due diligence study a couple of years ago. I wrote three times to the Prime Minister following the collapse of the Leader of the Opposition’s deal for a west Kimberley power supply. The Prime Minister finally responded after he received my third letter. He did not respond to my third letter but to my second letter, and suggested talks. I sent a high -level delegation to Canberra to try to firm up the Commonwealth’s position. Commonwealth bureaucrats have advised that the protocols between the State and Commonwealth prevent me from discussing in detail the commonwealth offer. Media reports have stated that the Commonwealth has offered $25 million for a tidal power protect. That relates to a proposal for tidal power that was associated with a zinc refinery. I understand that the proposal will no longer go ahead. Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
(1)-(2) The Labor Party made a commitment prior to the election that $15 million would be available to support a Derby tidal power project. That commitment stands. The State is prepared to provide $15 million to fund roadworks or other infrastructure to support a tidal power project and to sign a power purchase agreement worth $500 million or $600 million over 18 or 25 years. A tidal power project would have to deliver a competitive electricity price. There is no doubt about the State’s commitment to a tidal power project. However, the Commonwealth has not focused on this issue since it carried out a due diligence study a couple of years ago. I wrote three times to the Prime Minister following the collapse of the Leader of the Opposition’s deal for a west Kimberley power supply. The Prime Minister finally responded after he received my third letter. He did not respond to my third letter but to my second letter, and suggested talks. I sent a high -level delegation to Canberra to try to firm up the Commonwealth’s position. Commonwealth bureaucrats have advised that the protocols between the State and Commonwealth prevent me from discussing in detail the commonwealth offer. Media reports have stated that the Commonwealth has offered $25 million for a tidal power protect. That relates to a proposal for tidal power that was associated with a zinc refinery. I understand that the proposal will no longer go ahead. Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
Mr Barnett: It was never going to go ahead. It was never realistic. Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
Mr RIPPER: It is certainly no longer going ahead. The Commonwealth has made a highly conditional offer to provide inadequate funds for a tidal power project. The problem for the State Government is that it must balance the assistance that is required from the Commonwealth with the assistance that is required from the State. If Western Australia were to receive only $25 million from the Commonwealth, the unfortunate result would be a high electricity price. A long, ongoing subsidy would be required from the State, which could amount in net present value terms to $160 million. I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
I am a supporter of tidal power. The Government would love a tidal power project to get up in Derby. I will not close off tidal power from competing in a tender process, but in the end the Commonwealth must come to the party with a significant injection of funds. Otherwise, a tidal power project would not be competitive. A couple of issues need to be dealt with. For example, the proponent has asked for $70 million of tax-free support. The Commonwealth will not come to the party on the question of tax-free support. It wants to claw back a proportion of the grant given by the State and Commonwealth through company tax. That issue must be resolved, as must the issue about the size of the funding offer from the Commonwealth. I fear this project is at serious risk because of the attitude taken by the Commonwealth. I am still considering the report of the high-level delegation that I sent to Canberra. I will announce the next step once I have given that report proper consideration.
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