Download 18 November 2009: Premier`s News Release

TREASURER GIVEN RESPONSIBILITY FOR POWER REFORM
November 18, 2009
Premier Nathan Rees announced Treasurer Eric Roozendaal will take
responsibility for delivering the state’s electricity reform.
“I want to ensure a smooth transition and that we maintain the momentum for
one of the biggest financial transactions of the year,” Mr Rees said.
“The Government remains committed to securing the State’s electricity supply
and maximising the value for the families and business of NSW.
“Our number one priority is supporting jobs for families and businesses in
NSW – and leading the state through the economic recovery.
“I am confident the Treasurer will deliver the best possible result, allowing us
to reinvest the returns into transport and services across the State.”
Mr Rees said expressions of interest from potential bidders, including
domestic and international energy operators and investors, will close today.
“The Energy Reform Strategy aims to encourage private investment in new
baseload generation capacity in NSW by withdrawing the Government from
electricity retailing, selling power station development sites and transferring
the generators’ wholesale electricity trading functions to the private sector,”
Mr Rees said.
Mr Roozendaal said his priority is to continue to lead and steer the State’s
$360 billion economy on the road to recovery.
“The Premier and I are committed to supporting job creation and keeping
NSW on the road to economic recovery,” Mr Roozendaal said.
“This is about managing the recovery so that we have a steady and planned
path to better economic times.
“I am committed to working even harder to support jobs in our $360 billion
State economy – which is greater than each of the national economies of
Thailand, Singapore and New Zealand.
“The NSW Government is delivering a record $62.9 billion infrastructure
investment over the next four years, supporting up to 160,000 jobs a year,” Mr
Roozendaal said.
“We have secured the state’s credit rating at AAA stable after the last Budget
and we are starting to see signs of economic recovery in both the NSW and
Australian economies.”