An inquiry by the Parliament of New South Wales has recommended that the federal government acquire Snowy Hydro in order to ensure the continued viability of the Australian electricity generator.
The inquiry was carried out following the withdrawal of the company’s three shareholders – the Federal, New South Wales and Victorian governments – from the proposed sale in June 2006.
In its report, the Legislative Council Select Committee, chaired by Rev the Hon Dr Gordon Moyles MLC, recommended that the Commonwealth acquire all shares in the company, but also said that any acquisition must guarantee the retention of existing water entitlements and the public ownership of the corporation.
In addition, the report says that the community should be adequately informed about any future proposals regarding the ownership or funding of Snowy Hydro, and recommends that a Snowy Scientific Committee be established immediately to monitor the impact of environmental water flows in the Snowy river.
‘This enquiry, and an earlier inquiry established at the time of the proposed sale, have revealed a deeply held affection among New South Wales citizens for the Snowy scheme,’ said Rev Moyles. ‘A feat of engineering skill and human endurance, the scheme is largely based in one of Australia’s most beautiful national parks and holds special significance for many people. The committee became acutely of community support for retaining public ownership of the iconic Snowy scheme during its visit to Cooma in July this year.’
To view the committee’s report, click on the weblink below.