Synergy—Operating surplus
457. Hon Dr Steve Thomasto theLeader of the House representing the Minister for Energy and Decarbonisation:
I refer to my questions without notice 1211 and 1286, asked on 16 and 23 October 2024, respectively highlighting Synergy's stunning accounting reversal of the onerous $773.7 million booked impairment in the 2023–24 Annual Report on State Finances.
(1) On what date prior to last year's midyear review did the minister seek cabinet approval for a Synergy taxpayer-funded lifeline bailout valued in the hundreds of millions of taxpayers' dollars?
(2) Subsequent to the cabinet refusal to bailout Synergy's spiralling operational subsidies, was Synergy advised or instructed by government to borrow $500 million?
(3) What impact does Synergy's teetering financial viability have on the government's unachievable timeframe to retire all coal-fired power stations by 2030 and meet its net emissions target by 2050?
(4) Was the curious timing of Synergy CEO David Fyfe's resignation on 16 January 2025 a consequence of a refused government bailout of Synergy?
It is a Thursday!
Hon Stephen Dawson replied:
I thank the honourable member for some notice of the question. Happy Thursday!
(1)–(2) These matters relate to government decision-making, which is subject to cabinet-in-confidence.
Several members interjected.
The President: Order! I hope I did not hear what I thought I heard. The Leader of the House.
Hon Stephen Dawson: Thanks, President.
(3) The government remains committed to retiring all state-owned coal-fired power stations by 2030.
(4) No.
