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Hydro Tasmania’s profile
Hydro Tasmania is the trading name of the Hydro-Electric Corporation, incorporated in the State of Tasmania with its head office in Hobart, Tasmania and regional offices in Melbourne, Adelaide and New Delhi, India. It is 100 per cent owned by the State of Tasmania. The ownership structure is shown in Figure 6 and the business structure in Figure 7.
Hydro Tasmania is Australia’s leading renewable energy business and focuses its business intiatives on the renewable energy market. It provides energy to the National Electricity Market (NEM) and energy and environmental products to NEM participants. Hydro Tasmania Consulting provides clients with energy and water solutions in the areas of hydropower and renewable energy, dams, catchment management, environment and power engineering in the Asia-Pacific region. Hydro Tasmania also provides telecommunication services to the Tasmanian electricity industry. During the year we negotiated the sale of this division to Transend Networks Pty Ltd and, subject to legal arrangements being finalised, the sale is anticipated to be concluded in October 2008.
Key impacts, risks and opportunities of the business environment for the Corporation are provided in the Statement of Corporate Intent.
Significant events for 2007-08
The ongoing drought has continued to adversely affect our financial, social and environmental performance through lower lake levels, in turn resulting in reduced ability to generate hydropower, greater impact on recreational activities associated with our water assets and greater environmental impact.
The Balance Sheet has improved following an equity injection from the Tasmanian Government of $220 million and $50 million specifically to invest in Roaring 40s renewable energy developments.
Hydro Tasmania has developed a climate change response strategy which outlines the future direction of the business in relation to climate change activities.
Stakeholders
Hydro Tasmania currently identifies and engages with stakeholders who are likely to be impacted by its operations, and with whom we have shared issues of interest or concern. Stakeholder groups and their attributes are listed in Table 13.
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