The Northern Territory Government has announced changes to the Power and Water Corporation’s board.
Northern Territory Treasurer, Nicole Manison, said the corporation was still facing significant challenges following the structural separation process.
“We will be recruiting a new Chair for the Power and Water Corporation to meet the current financial challenges and emerging issues that this multi-faceted utility will face,” Ms Manison said.
“I would like to take this opportunity to thank the outgoing Chair Mr Alan Tregilgas for his service on Power and Water’s Corporation board.
“PowerWater is a unique government-owned corporation that is critical to the Territory delivering vital power, water and sewerage services.”
Ms Manison said the corporation’s financial management and asset management systems had ongoing issues, and would need to adapt quickly to the growth of renewable energy and the move to the Australian Energy Regulator.
“Ensuring that power, water and sewerage services are affordable and reliable will always be a top priority, as well as the safety of the staff in the workplace as they do their jobs.
“An executive recruitment process will be undertaken to appoint a new permanent head of the corporation board, to manage the challenges facing the organisation, and to ensure the corporation is placed on a financially sustainable footing.
“It is well known that the financial performance of PowerWater has a significant impact on the Territory budget and the corporation’s finances were a contributing factor to Moody’s downgrading the Territory’s credit rating earlier this year.”
Deputy Chair Ken Clarke will act as the Interim Chair of the PowerWater board while the recruitment process is underway.