Actew Corporation
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Company priorities

OUR PRIORITIES FOR 2007-08

Water Supply
  • As part of its continuing work on securing Canberra’s water supply, ACTEW will:
    • Continue additional work on other water source options including technical analysis and planning for an enlarged Cotter Dam, a possible new Tennent Dam and transfer of water from Tantangara Dam in NSW.
    • Through its Water Security Program, make recommendations to Government on the proposal to provide purified water from Lower Molonglo Water Quality Control Centre to an enlarged Cotter Dam.
    • Seek further security through the diversification of the water supply, including accessing the additional water from the Murrumbidgee River.
    • In the short term as a drought contingency measure ACTEW is also examining other supply options.
    • Review, monitor and report on the six key water supply planning assumptions
      • Population growth and cross border water supply
      • Climate change
      • Environmental flows
      • Recovery of water supply catchments after 2003 bushfires
      • Water efficiency targets in Think water act water
      • System performance criteria - duration, frequency and severity of water restrictions
    • Investigate opportunities to further maximise the efficiency of the existing water supply system with any necessary investment in capital expenditure and new technology.
  • Liaise with the Environmental Protection Authority regarding the monitoring and future review the environmental flow levels.
  • Work with the ACT Government to achieve a satisfactory ACT Cap for the Murray - Darling Basin.
  • Resolve the ownership of Googong Dam.
  • Alignment with the Australian Government National Water Initiative and other policy initiatives.
Water Demand
  • Manage water restrictions as a demand management tool during the ongoing drought; and to be ready to manage Permanent Water Conservation Measures when restrictions are lifted.
  • Work with the ACT Government to achieve:
    • a reduction in per capita consumption of mains water by 12% by 2013 and 25% by 2023 and an increase in the efficiency of water usage.
    • sustainable total water cycle management
Wastewater
  • Investigate opportunities to further maximise the efficiency of the existing wastewater system with any necessary investment in capital expenditure and new technology.
  • Investigate and monitor new industry standards in relation to wastewater network management.
  • Complete detailed design work and commence construction to upgrade the secondary treatment facilities at Lower Molonglo Water Quality Control Centre.
Water Catchments
  • Work with the ACT Government to achieve appropriate catchment management governance and management arrangements in Cotter, Googong and Murrumbidgee Rivers catchments.
  • Continue the urgent rehabilitation of the lower Cotter catchment to improve water quality in the reservoir.
TransACT
  • Continue to support and monitor the roll out and delivery of TransACT’s services to the community.
  • Monitor its performance and have shareholder input to decision making.
ActewAGL
  • Manage the reset of the Utilities Management Agreement (UMA) with ActewAGL, which provides for the operational management of ACTEW’s water and wastewater.
  • Continue to improve the process whereby ActewAGL delivers capital expenditure for ACTEW to ensure timely delivery of work at appropriate standards to justify the investment approved by the ICRC.
  • Monitor and manage implications of changes in ownership of our partners (currently Jemena and AGL Energy) to ensure a satisfactory outcome for our shareholders and customers.
Customers
  • Consult and educate our customers about water quality, ACTEW’s water supply and demand initiatives.
  • Deliver products and services to our customers at a sustainable level.
Financial
  • Review and advise customers and shareholders on the implications of stage 4 water restrictions on pricing and on the financial performance and position of ACTEW.
  • Continue to review and model the short and medium term implications of the drought continuing, the Water Security Program and alternate water resources on the water prices for customers and on the financial performance and position of ACTEW.
  • In the event all or part of the Water Security Program is implemented raise debt capital to finance the construction of these new assets.
  • Continue to develop, refine and monitor the risk management strategies of ACTEW in the context of the UMA.
  • Work closely with ActewAGL on the regulatory submission to the ICRC to ensure an appropriate outcome.
  • Achieve earnings before interest and tax (EBIT) of approximately $129m.
  • Declare shareholders a dividend out of 2007/08 profits of approximately $73.4m.