Roozendaal to tackle electricity reform

CHANTAL ABITBOL

NSW Treasurer Eric Roozendaal is preparing to take on the challenging task of delivering the state’s electricity reform.

NSW Premier Nathan Rees announced on November 18 that Roozendaal would be in charge of selling the state’s power assets after dumping finance and infrastructure minister Joe Tripodi from the portfolio earlier this week.

Under the plan, NSW will try to sell off three electricity retail businesses and new generator development sites to the private sector.

It is a controversial move that sparked earlier protest when former premier Morris Iemma first put the proposal to the public last year. He subsequently resigned after failing to win backing for the plan.

Rees appears determined to see it out and said expressions of interest from potential bidders have already closed.

“The Government remains committed to securing the state’s electricity supply and maximising the value for the families and businesses of NSW,” said Rees.

“I’m confident the Treasurer will deliver the best possible result, allowing us to reinvest the returns into transport and services across the state.”

Roozendaal said he was up to the task. “This is about managing the recovery so that we have a steady and planned path to economic times,” he said.

“We have secured the state’s credit rating at AAA after the last budget, and we are starting to see signs of economic recovery in both the NSW and Australian economies.”