TasWater is positioned to achieve $70M in savings over the next ten years as a result of major restructures that have been achieved over the past two years.
TasWater Chairman, Miles Hampton advised owner councils of the operating performance of TasWater’s inaugural year over the past week. TasWater recorded:
- an after tax profit of $27M which was $2M above budget;
- spent $76M on water and sewerage infrastructure improvements;
- and together with the reforms of the previous year, has delivered savings of $5M this year, which is expected to grow to $7M next year.
Mr Hampton said the positive results have laid a very firm foundation and set TasWater up for a strong future.
“TasWater is committed to making a positive difference through a sustainable pricing model, improved health and environmental standards and ongoing economic investment.”
“The merger of the four former corporations into TasWater required the use of specialised expert services to ensure a quick and cost-effective restructuring process, minimising uncertainty for employees and ensuring ongoing service provision for the community.”
“TasWater is now set up to deliver $100M in capital works each year and current approved projects will positively impact on more than 50 communities across the state,” he said.
Mr Hampton said TasWater has also achieved a 37 percent improvement in its safety performance.
“I’m pleased to say that we have a group of highly capable, enthusiastic and dedicated employees who have the skills, the plan, and the commitment to make the next 12 months another success for TasWater in delivering essential services.”
“TasWater’s challenge now is to build on these strong beginnings and to continue to deliver for our employees, our customers and for the community,” he said.