Australian Politics Forum - Merry Xmas NSW from Keneally

mellie

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Merry Xmas NSW from Keneally
Dec 16^th, 2010 at 11:29am

Keneally welcomes scrutiny of power sale
December 16, 2010 - 12:09PM

AAP

NSW Premier Kristina Keneally says she would welcome scrutiny of the government's $5.3 billion electricity privatisation, but won't agree to opposition calls for a judicial inquiry into the sale.

The NSW opposition wants a halt to the transaction, saying a judicial inquiry should investigate the troubled sale.

Eight board members from two companies involved in the asset sale - Eraring Energy and Delta Electricity - resigned on Tuesday in a last-minute protest at the deal, with one labelling the transaction "a dud".
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Ms Keneally said she expected the state's auditor-general to review the sale, adding that she would welcome such scrutiny.

But despite repeated questions from reporters, she would not commit to a judicial inquiry.

"The auditor-general will, I assume, undertake a review of this transaction," she said.

"I fully welcome that scrutiny of this transaction, because I'm quite confident that it will show that this transaction, which is ongoing, has achieved value for money for the taxpayer."

Under the partial privatisation, TRUenergy has paid $2.035 billion for retailer EnergyAustralia and the right to trade the output generated by Delta West, along with access to three development sites.

Origin Energy has bought smaller retailers Integral Energy and Country Energy, as well as the electricity trading rights for Eraring Energy, for $3.25 billion.

Tuesday's deal is only the first tranche of the asset sale, with the output of Macquarie Generation and Delta's Central Coast power stations to be sold early next year.

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bwood1946

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Re: Merry Xmas NSW from Keneally
Reply #1 - Dec 16^th, 2010 at 11:43am

mellie wrote on Dec 16^th, 2010 at 11:29am:

Keneally welcomes scrutiny of power sale
December 16, 2010 - 12:09PM

AAP

NSW Premier Kristina Keneally says she would welcome scrutiny of the government's $5.3 billion electricity privatisation, but won't agree to opposition calls for a judicial inquiry into the sale.

The NSW opposition wants a halt to the transaction, saying a judicial inquiry should investigate the troubled sale.

Eight board members from two companies involved in the asset sale - Eraring Energy and Delta Electricity - resigned on Tuesday in a last-minute protest at the deal, with one labelling the transaction "a dud".
Advertisement: Story continues below

Ms Keneally said she expected the state's auditor-general to review the sale, adding that she would welcome such scrutiny.

But despite repeated questions from reporters, she would not commit to a judicial inquiry.

"The auditor-general will, I assume, undertake a review of this transaction," she said.

"I fully welcome that scrutiny of this transaction, because I'm quite confident that it will show that this transaction, which is ongoing, has achieved value for money for the taxpayer."

Under the partial privatisation, TRUenergy has paid $2.035 billion for retailer EnergyAustralia and the right to trade the output generated by Delta West, along with access to three development sites.

Origin Energy has bought smaller retailers Integral Energy and Country Energy, as well as the electricity trading rights for Eraring Energy, for $3.25 billion.

Tuesday's deal is only the first tranche of the asset sale, with the output of Macquarie Generation and Delta's Central Coast power stations to be sold early next year.

What do you expect from the YANKEE B I T C H

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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: Merry Xmas NSW from Keneally Reply #2 - Dec 16^th, 2010 at 3:24pm It should have been sold off a decade ago
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mellie Gold Member Offline Australian Politics Posts: 8142 Sydney Gender:	Re: Merry Xmas NSW from Keneally Reply #3 - Dec 16^th, 2010 at 3:51pm This is how Labor run the country, by selling our Assets. Personally, I think crucial infrastructure and services should remain off the table, she's a joke and a flibbertigibbet ...the yanky airhead has not a clue.
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skippy. Gold Member Offline Posts: 20882 Gender:	Re: Merry Xmas NSW from Keneally Reply #4 - Dec 16^th, 2010 at 3:58pm
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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: Merry Xmas NSW from Keneally Reply #5 - Dec 16^th, 2010 at 4:03pm Kennett and Olsen sold off the electicity assets in Victoria and South Australia and they were both Liberal Premiers, it was one of the best of the many good things both of them did when in power.
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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: Merry Xmas NSW from Keneally Reply #6 - Dec 16^th, 2010 at 4:04pm oops electricity
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mellie Gold Member Offline Australian Politics Posts: 8142 Sydney Gender:	Re: Merry Xmas NSW from Keneally Reply #7 - Dec 16^th, 2010 at 4:14pm I know both sides of politics have sold off crucial infrastructure, vital resources and services...but not quite as much as our Labor party....I mean anything that's not nailed down, has a for sale sign on it it seems with this party.
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adelcrow Gold Member Offline Australian Politics Posts: 20133 everywhere Gender:	Re: Merry Xmas NSW from Keneally Reply #8 - Dec 16^th, 2010 at 4:26pm We have business interests and property in North Sydney so this sell off effects us as well. Govts have no place in modern times owning such assetts as it only stifles competition and investment in new technology. I dont care if its a Labor or Liberal govt..privitisation is a good thing for everyone in the long run.
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mellie

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Re: Merry Xmas NSW from Keneally
Reply #9 - Dec 16^th, 2010 at 4:34pm

adelcrow wrote on Dec 16^th, 2010 at 4:26pm:

We have business interests and property in North Sydney so this sell off effects us as well.
Govts have no place in modern times owning such assetts as it only stifles competition and investment in new technology.
I dont care if its a Labor or Liberal govt..privitisation is a good thing for everyone in the long run.

How about foreign ownership, does this appeal to you?

Ie... global investors owning a detrimental stake in our more crucial services and infrastructure...ie water.

Labor have sold more of our wild river systems to global investors than you might realise.

Is this sound practice?

Or in Australia's long-term best interests?

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