Dominic Perrottet has been hit by bombshell revelations his authorities had investigated methods to privatise key features of Sydney Water.
The NSW Premier has repeatedly stated throughout the marketing campaign for the March 25 election his authorities has “no plans” for additional asset recycling.
“We have no plans in relation to Sydney Water. I’ve made that very clear, every step of the way,” he advised reporters in February
But leaked confidential paperwork seen by NCA NewsWire reveal consultants KPMG and Clayton Utz had seemed into privatisation choices for Sydney Water in January 2020 and November 2021.
In March 2020, Mr Perrottet – then treasurer – stated he had no plans of even doing a scoping research into privatising Sydney Water,
The ‘Future Funding Strategy’ KPMG report cites direct strain from the federal government.
“Shareholders (government ministers) have large future cash requirements and have been seeking cash inflows through asset recycling and increased dividends,” the doc says.
The KPMG report suggested on ‘long term ownership models’ and ‘major structural changes’ to “shape the long-term structure of water services in Australia”.
Last October, the federal government contracted a non-public consortium to assemble and function the brand new Upper South Creek Advanced Water Recycling Centre at Kemps Creek.
The contract for the consortium, led by Chinese-owned firm Trility, was introduced in a press launch final October.
The authorities has denied that Sydney Water is being privatised and stated the Upper South Creek plant “will be owned and controlled by Sydney Water”.
“The operating agreement with Trility is for five years with a possible five year extension. After this time Sydney Water will take over operation of the asset. This is for an asset that we expect to operate for well over 50 years,” Water Minister Kevin Anderson stated.
“Trility Water is an Australian and New Zealand based company which supports councils and state government water utilities in more than 40 water projects across Australia, with the vast majority being in the Labor held states of South Australia, Victoria and Queensland.”
A report back to Sydney Water board reveal that plans had been developed to privatise the general possession of the South Creek website through a Public Private Partnership (PPP).
“Preferred structure…Sydney Water will hold 51 per cent….Private Investor will hold 49 per cent,” the board report stated.
2GB announcer Chris O’Keefe, who broke the story on Tuesday, slammed the transfer by the Perrottet authorities.
“Seriously? So much for ‘We aren’t privatising Sydney Water’, it’s already happening,” he stated.
“I know the government will say ‘Oh, no, we still are in the bricks and mortar.’ But that’s like saying, ‘Oh, well, we aren’t selling Sydney Trains. But the drivers are no longer employed by us’.”
“The shareholders have shown a preference for asset recycling,” O’Keefe quoted from the report.
“Well, that means privatisation doesn’t it? A sell-off, asset recycling.”
Sydney Water is the most important water utility in Australia, servicing greater than 5 million folks throughout Greater Sydney, the Blue Mountains and the Illawarra.
It’s mixed belongings complete greater than $23 billion.
Modelling launched by The Australia Institute’s Centre for Future Work final month revealed any strikes to privatise Sydney Water may enhance water payments by 59 per cent, including as much as $264 to the typical family invoice yearly.
The analysis, which was commissioned by the Australian Services Union (ASU) stated the sale of the government-owned physique would add between $174 and $269 to water payments; nonetheless, this determine would probably enhance as a consequence of inflation and potential inhabitants development.
Source: www.perthnow.com.au
