четверг, 1 марта 2012 г.

SA: Democrats say power lease adds insult to injury


AAP General News (Australia)
12-13-1999
SA: Democrats say power lease adds insult to injury

ADELAIDE, Dec 13 AAP - The multi-billion dollar lease of South Australia's most valuable
electricity assets to an overseas company added insult to injury, the Australian Democrats
said today.

SA Democrats infrastructure spokeswoman Sandra Kanck said the government was not only
handing over control of an essential industry to private interests, but ensuring its healthy
profits would now go overseas.

Premier John Olsen announced yesterday Hong Kong-based firm Hutchison Whampoa, through
its subsidiary Hong Kong Electric/CKI, will pay $3.5 billion to lease the distribution
and retail companies ETSA Utilities and ETSA Power for 200 years.

The company plans to offer ETSA Power, the retail arm, for sale in the near future.

"The Liberals are thumbing their noses at South Australians by providing a lease of
200 years duration, a length of time which was never discussed by the parliament," Ms
Kanck said in a statement.

"This is both a sell-off and a sell-out."

Mr Olsen has pledged to use the $3.5 billion - to be paid in a lump-sum on January
28 - to reduce SA's $7.6 billion debt.

The lease was secured after two Labor MPs, Trevor Crothers and Terry Cameron, crossed
the floor and resigned from the ALP to support the government's privatisation plan.

AAP sn/ah/br

KEYWORD: POWER SA DAYLEAD

1999 AAP Information Services Pty Limited (AAP) or its Licensors.

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