Home›Questions on Notice›QoN 5601

❓ A WA parliamentary question seeking detailed information on finance leases held by agencies within the Treasurer and Minister for Energy's portfolio since 2008. The response reveals limited lease activity, with Horizon Power and Synergy having some leases, but much of the detail is withheld as commercial-in-confidence.

AnsweredQoN 5601Legislative Assembly

Asked

30 June 2016

Member

Mr W.J. Johnston

Portfolio

Treasurer; Minister for Energy; Citizenship and Multicultural Interests

QuestionView source ↗

I refer to Note 3: Summary of Significant Accounting Policies, and specifically to sub-note (r) Leases on page 81 of the Annual Report of State Finances 2014-15, and I ask: (a) for each agency in the Minister's portfolio, please detail each finance lease that has been entered into since 8 September 2008 and currently in force for each agency; (b) for each such lease, please specify the specific infrastructure or property, plant or equipment that has been financed by such a lease, what value was assigned to that infrastructure or property, plant or equipment at the time the lease was created, and what is the current value of that infrastructure or property, plant or equipment; (c) for each such lease, who is the counter party for each lease, and on what date did each lease come into force, and when is it expected that the lease will expire; (d) what was the original value of each such lease, and what is the current value of each lease; (e) for the specific infrastructure or property, plant or equipment financed by each such lease, what is the expected value of the item at the expiration of the lease; (f) For each such lease, is there an obligation to make a "balloon" or similar payment at the expiration of the lease, and if so, what is the value of any such payment, and when is it due to be made; and (g) what is the “interest rate implicit in the lease” for each such lease?

AnswerView source ↗

Answered

7 September 2016

Response time

69 days

Department of Treasury
(a) Nil
(b-g) Not applicable
Economic Regulation Authority
(a) Nil
(b-g) Not applicable
Government Employees Superannuation Board
(a) Nil.
(b-g) Not applicable.
Horizon Power
(a)(i)Leonora
(ii) Exmouth Generator 9
(iii) Karratha
(b) Commercial-in-Confidence
(c)(i) Energy Generation Pty Ltd
(ii) Exmouth Power Station Pty Ltd
(iii)ATCO Power Australia (Karratha) Pty Ltd
Dates for all leases are considered Commercial-in-Confidence
(d-e) Commercial-in-Confidence
(f)(i-iii) No
(g) Commercial-in-Confidence
Independent Market Operator
(a) Nil
(b-g) Not applicable
Insurance Commission of Western Australia
(a) Nil
(b-g) Not applicable
Office of Multicultural Interests
(a) Nil
(b-g) Not applicable
Office of the Auditor General
(a) Nil
(b-g) Not applicable
Public Utilities Office
(a) Nil
(b-g) Not applicable
Synergy
(a) Emu Downs Wind Farm
(b) Off-take agreement
(c) APA Group. Dates are considered Commercial-in-Confidence.
(d-e) Commercial-in-Confidence
(f) No
(g) Commercial-in-Confidence
Western Australian Treasury Corporation
(a) Nil
(b-g) Not applicable
Western Power
(a) Nil
(b-g) Not applicable

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