Commission outlines NSW electricity future

The NSW electricity industry will receive consideration from the state government on the recommendations from the Special Commission of Inquiry.

Recommendations from the report include legislation to be enacted enabling the sale or long term lease of the Eraring, Delta West, Delta Coastal and Macquarie Generation generators; developing sites sold by the government; and selling the Cobbora mine.

The recommendations also include determination of objectives for the network businesses and whether they should remain in public ownership or be sold in part of full; as well as obtaining “expert advice” on the timing and implementation of the recommendations.

According to the report, there are several reviews to be finalised in 2012, “which may affect the value of the network businesses”.

Premier Barry O’Farrell said the government would be “guided by the experts” when determining the future of electricity assets.

Mr O’Farrell said he appointed this inquiry to provide expert advice on the way to deal with the state’s electricity assets.

According to Mr O’Farrell, the report confirmed that the previous government’s sale of the gentrader rights was the second preferred option, which had generated gross revenue of $5.3 billion.

He said he the inquiry found the sale and legal process was reasonable and appropriate, but the “late night deal with parliament shut down to avoid any scrutiny” was not appropriate.

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