Sustainability Code: We use resources efficiently and maintain our energy system, including assets, for the long term. We ensure new developments meet our Sustainability Code.
	Our mission: World-class asset and resource management Our strategy is to manage our assets efficiently through strategic, quality and cost-effective upgrade and maintenance regimes to produce a reliable supply of electricity to the market when it is required; to manage our water prudently to ensure long-term supply and a sustainable environment.

Management approach

Hydro Tasmania’s long history of power generation means many of our assets are old. We have a long-term view of asset management. Our approach is guided by our Asset Management Policy which incorporates our asset management strategy and dam safety risk management procedures.

The asset management strategy aims to ensure the safety and reliability of the major generation units. Specifically, the strategy aims to have 27 of the 50 major production lines not exposed to significant risk by 30 June 2015. This will ensure that the generation units that provide 70 per cent of our revenue will remain reliable and will comply with internal and regulatory obligations, such as safety of assets, operations and our duty of care to our people.

We prioritise asset upgrades using a risk assessment process, focusing on safety, environmental and revenue risk.

The dam safety risk management procedures ensure the Tasmanian community is not exposed to unacceptable risks associated with our dams, and are subject to biannual independent expert reviews. These procedures are supported by an emergency response plan.

This plan is also periodically reviewed and tested by Hydro Tasmania, with organisation-wide training keeping skills and knowledge up to date.

The key performance indicator for asset management is the number of production lines not exposed to significant risk that would cost more than $500 000 to rectify. In 2008/09, we met the target, see table 8.

Cost control

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