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Hydro Tasmania HYDRO TASMANIA New Delhi 12th Floor Eros Corporate Tower www.hydro.com.au Nehru Place 4 Elizabeth Street New Delhi India 110 019 Hobart Tasmania 7000 Phone: +91 11 4651 8513 Postal Address: Fax: +91 11 4651 8512 GPO Box 355 Email: [email protected] Hobart Tasmania 7001 Australia Adelaide Phone within Australia: 1300 360 441 Suite 19, 8 Greenhill Road HYDRO TASMANIA Phone international: +61 3 6271 6221 Wayville South Australia 5034 Fax: +61 3 6230 5823 Phone: +61 8 8372 7837 Email: [email protected] Email: [email protected] annual report 08 Hydro Tasmania Consulting www.hydrotasmaniaconsulting.com.au Photography: 89 Cambridge Park Drive Alastair Bett “The world is Cambridge Tasmania 7170 David Blühdorn “Without question changing before Phone: +61 3 6245 4500 Mike Morffew Hydro Tasmania our very eyes and Fax: +61 3 6245 4550 Roger Lovell is a leader in the energy issues are Email: [email protected] field of renewable at the core of these Stocks used throughout Melbourne energy” changes” Level 25, 500 Collins Street this document: “I cherish the “I am often inspired Melbourne Victoria 3000 Cover/Tabs: Phone: +61 3 8628 9700 Silk 350gsm/250gsm opportunity to by the depth of work with and be Fax: +61 3 8628 9750 Annual Report: talent we have Email: [email protected] Envi Silk 150gsm challenged by and feel privileged HYDRO TASMANIA young people” working in that environment” Financials: Elements Ultimate White 118gsm “Hydro Tasmania is “We are in a poised to capture fantastic position “My job is the benefits as to assist in connected to the the true value of providing solutions big issues facing renewable energy to climate change” the planet” is realised” “I get to work on the leading edge of very complex and important public policy issues” annual report Our people – creating a sustainable future To run this CD Our people – creating a sustainable future 1 Exit all other open applications. 2 Insert the CD. If the CD doesn’t self start, click on the file ‘hydro_ar.html’. Minimum system requirements PC Mac Windows 2000 OSX 10.2 Pentium 400Mhz G3 350Mhz 64MB RAM 64MB RAM 1024 x 768 resolution 1024 x 768 resolution 32Bit colour 32Bit colour 8x CD-ROM 8x CD-ROM 08 HYDRO TASMANIA New Delhi 12th Floor Eros Corporate Tower www.hydro.com.au Nehru Place 4 Elizabeth Street New Delhi India 110 019 Hobart Tasmania 7000 Phone: +91 11 4651 8513 Postal Address: Fax: +91 11 4651 8512 GPO Box 355 Email: [email protected] Hobart Tasmania 7001 Australia Adelaide Phone within Australia: 1300 360 441 Suite 19, 8 Greenhill Road HYDRO TASMANIA Phone international: +61 3 6271 6221 Wayville South Australia 5034 Fax: +61 3 6230 5823 Phone: +61 8 8372 7837 Email: [email protected] Email: [email protected] annual report 08 Hydro Tasmania Consulting www.hydrotasmaniaconsulting.com.au Photography: 89 Cambridge Park Drive Alastair Bett “The world is Cambridge Tasmania 7170 David Blühdorn “Without question changing before Phone: +61 3 6245 4500 Mike Morffew Hydro Tasmania our very eyes and Fax: +61 3 6245 4550 Roger Lovell is a leader in the energy issues are Email: [email protected] field of renewable at the core of these Stocks used throughout Melbourne energy” changes” Level 25, 500 Collins Street this document: “I cherish the “I am often inspired Melbourne Victoria 3000 Cover/Tabs: Phone: +61 3 8628 9700 Silk 350gsm/250gsm opportunity to by the depth of work with and be Fax: +61 3 8628 9750 Annual Report: talent we have Email: [email protected] Envi Silk 150gsm challenged by and feel privileged HYDRO TASMANIA young people” working in that environment” Financials: Elements Ultimate White 118gsm “Hydro Tasmania is “We are in a poised to capture fantastic position “My job is the benefits as to assist in connected to the the true value of providing solutions big issues facing renewable energy to climate change” the planet” is realised” “I get to work on the leading edge of very complex and important public policy issues” annual report Our people – creating a sustainable future To run this CD Our people – creating a sustainable future 1 Exit all other open applications. 2 Insert the CD. If the CD doesn’t self start, click on the file ‘hydro_ar.html’. Minimum system requirements PC Mac Windows 2000 OSX 10.2 Pentium 400Mhz G3 350Mhz 64MB RAM 64MB RAM 1024 x 768 resolution 1024 x 768 resolution 32Bit colour 32Bit colour 8x CD-ROM 8x CD-ROM 08 highlights of 08 Electricity supply $270 million Profit after tax Capital Climate change 1000 gigawatt Hydro Tasmania $22.6 million Significant Career path for Cloud seeding Lake Margaret to Tasmania equity injection of $158.9 million expenditure of strategy hours project Consulting’s cost savings increase in staff technicians impact report Power Station is maintained improves balance due to increased $54.9 million on released – under way new Cambridge embedded into engagement. embedded for West Coast redevelopment during severe sheet; includes value of assets; our operations set target of to develop home opened future budgets Hydro Tasmania released approved drought – $50 million boost operating loss of becoming first increased - the first Five- now rated Basslink and for investment $58 million better carbon neutral capability Star Green Star among Bell Bay Power in Roaring 40s reflects impact of generator in from hydro office building high-performing Station play growth low inflows Australia by generation in the State businesses key roles 2012 nationally challenges of 08 Operational and financial Reliance on Basslink Environmental risks as Attracting and retaining Improving safety culture Increased greenhouse The direction of national Embedding sustainability pressures as a result of with over 2264 GWh of a result of low rainfall, staff with the right skills across the business gas emissions from energy policy – uncertainty principles across the ongoing drought - third net import particularly at Great Lake operation of the Bell Bay about emissions trading business driest year since the 1966- Power Station and commitment to 67 drought renewable energy highlights of 08 Electricity supply $270 million Profit after tax Capital Climate change 1000 gigawatt Hydro Tasmania $22.6 million Significant Career path for Cloud seeding Lake Margaret to Tasmania equity injection of $158.9 million expenditure of strategy hours project Consulting’s cost savings increase in staff technicians impact report Power Station is maintained improves balance due to increased $54.9 million on released – under way new Cambridge embedded into engagement. embedded for West Coast redevelopment during severe sheet; includes value of assets; our operations set target of to develop home opened future budgets Hydro Tasmania released approved drought – $50 million boost operating loss of becoming first increased - the first Five- now rated Basslink and for investment $58 million better carbon neutral capability Star Green Star among Bell Bay Power in Roaring 40s reflects impact of generator in from hydro office building high-performing Station play growth low inflows Australia by generation in the State businesses key roles 2012 nationally challenges of 08 Operational and financial Reliance on Basslink Environmental risks as Attracting and retaining Improving safety culture Increased greenhouse The direction of national Embedding sustainability pressures as a result of with over 2264 GWh of a result of low rainfall, staff with the right skills across the business gas emissions from energy policy – uncertainty principles across the ongoing drought - third net import particularly at Great Lake operation of the Bell Bay about emissions trading business driest year since the 1966- Power Station and commitment to 67 drought renewable energy DIRECTORS STATEMENT To the Hon David Llewellyn MHA, Minister for Energy and Resources, in compliance with requirements of the Government Business Enterprises Act 1995. In accordance with Section 55 of the Government Business Enterprises Act 1995, we hereby submit for your information and presentation to Parliament the report of the Hydro-Electric Corporation for the year ended 30 June 2008. The report has been prepared in accordance with the provisions of the Government Business Enterprises Act 1995. D M Crean Chairman Hydro-Electric Corporation 22 October 2008 V J Hawksworth CEO Hydro-Electric Corporation 22 October 2008 Hydro-Electric Corporation ARBN 072 377 158 ABN 48 072 377 158 HYDRO TASMANIA ANNUAL REPORT 08 1 Our Vision Contents To be Tasmania’s Chairman’s review 2 world-renowned renewable Chief Executive’s report 5 energy business OUR PERFORMANCE 9 Economic Performance 11 Our Mission 2007-08 financial results 11 Long-term business value 12 Hydro Tasmania will create Growth and customers 13 a sustainable future and Assets and Resource Use 16 increase the value of our Asset management 16 business through: Asset and public safety 17 › world-class asset and Resource use 18 resource management Governance 21 › building our financial OUR PEOPLE 23 strength and delivering Employees 25 sustainable returns to our Attraction, capability and retention 26 owners, the people of Safety, health and wellbeing 29 Tasmania External Stakeholders 32 Community engagement and support 33 › developing new renewable Suppliers and partners 36 energy projects OUR ENVIRONMENT 39 › being the premier employer Ecosystems and Heritage 41 of the most capable people Ecosystems 42 in our industry Aquatic program 42 › product innovation for Land management 44 customers in consulting, Heritage 45 electricity
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