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Read our annual reports to find out more about our financial performance and activities.
Details of ASIC relief to prepare audited financial reports for AETV Pty Ltd and Momentum Energy Pty Ltd are as follows:
Our Treasury Policy provides a framework for managing and reporting risks associated with trading and retailing activities to ensure that we meet our corporate governance and compliance obligations.
Download a summary of our Treasury Policy, made available in accordance with the Guidelines for Tasmanian Government Businesses – Borrowing Arrangements (section 1.5).
It is estimated that some 40 million people globally are trapped in modern slavery. Businesses like ours, which have international influence, should address the risks of modern slavery in our operations and supply chains, and uphold respect for human rights.
Our modern slavery statement overviews our approach to modern slavery.
Modern slavery concerns can be reported via the methods outlined in:
- Hydro Tasmania’s complaints management procedure
- the disclosure policy and disclosure procedures
- by raising any concern with the General Counsel/Corporation Secretary directly via Corporation.Secretary@hydro.com.au.
We value transparency and accountability, and support disclosures that reveal any conduct that falls short of our standards. We will take all reasonable steps to protect people who make a disclosure. Our disclosure policy aligns with the aims and objectives of the Public Interest Disclosures Act 2002 and is supported by our Ombudsman-approved disclosure procedures.
We take care to manage our financial risks through specific policies for electricity trading, treasury, credit and finance which are subject to compliance and internal audit. We manage revenue using a trading enterprise value approach. We conduct an annual business planning cycle, setting a budget and developing a 4-year corporate plan which is agreed with the Tasmanian Government. We report on performance against budget to the Board (monthly) and to the Tasmanian Treasury (quarterly).
Our environmental policy and sustainability principles guide our catchment management practices and help us to keep improving environmental outcomes. We have an Environmental Management System (EMS), which is certified to the international standard ISO 14001 and is externally audited every year. We continually train people across the business to use the EMS and manage environmental risks.
We seek to identify and, where possible, quantify the risks we’re exposed to, and set limits on the amount of risk we are willing to tolerate in order to achieve our strategic objectives. Our integrated business risk management framework, along with associated standards and procedures, helps us assess and manage risk within set boundaries. The framework, standards and procedures are aligned with the international standard on risk management (ISO 31000).
Hydro Tasmania’s code of conduct reflects our values and cultural principles and sets the standard of behaviour required by our people. The code comprises 7 core principles that guide our required standards of behaviour and reflect our approach to conducting business.
Hydro Tasmania and the owner of Basslink (Basslink Pty Ltd (BPL)) were parties to a Basslink Services Agreement (BSA) in place from 28 April 2006 until February 2022. A 2014 Ministerial Notice issued under s36 of the Electricity Supply Industry Act 1995 (Tas) applied to the BSA.
From 1 October 2022 until 20 October 2022, Hydro Tasmania and BPL were parties to a short-term network services agreement. On 20 October 2022, APA acquired BPL. As part of the transaction, Hydro Tasmania and BPL have entered into a Network Services Agreement (NSA) which commenced on 21 October 2022 and will conclude on the earlier of:
- regulation of Basslink by the AER
- or 30 June 2025; unless extended by the parties.
The NSA incorporates a transport bidding protocol setting out the limited circumstances in which Hydro Tasmania can instruct BPL to enter a non-zero bid for the contracted capacity.
During the term of the NSA, Hydro Tasmania will monitor its compliance with the transport bidding protocol in accordance with Hydro Tasmania’s assurance policy, as approved by the Hydro Tasmania Board from time to time, in accordance with ISO AS 19600:2015.
View:
ESI compliance plan notices / NSA notices
October 2014 Ministerial Notice under section 36