The long term lease of 50.4 per cent of Endeavour Energy is the third transaction of the NSW Government’s initiative to lease 49 per cent of the State’s electricity network.
Endeavour Energy provides electricity distribution services to 2.4 million customers in households and businesses across Sydney's Greater West, the Blue Mountains, Southern Highlands, the Illawarra and the South Coast. Its network spans 24,800 square kilometres and is made up of more than 186 substations, approximately 49,000 kilometres of underground and overhead cables and approximately 416,000 power poles and street light columns.
The enabling legislation for the lease, the Electricity Network Assets (Authorised Transactions) Act 2015 provides appropriate safeguards for consumers, employees and other stakeholders.
Following this lease the State will continue its roles as licensor and safety and reliability regulator. The Australian Energy Regulator will continue to determine network revenue. Identical to TransGrid and Ausgrid transactions, the successful bidder for the Endeavour Energy lease will be required to sign a contractual ‘Price Guarantee’ that total network charges in year ending 30 June 2019 will be lower than those in year ending 30 June 2014.
Land and Property Information titling and registry division
The NSW Government transacted the Land and Property Information (LPI) titling and registry division under a 35-year concession in April 2017.
The legislation enabling this transaction, the Land and Property Information NSW (Authorised Transaction) Act 2016 passed NSW Parliament in September 2016.
The legislation provides a range of legislative and regulatory safeguards to protect the integrity of the property titling system.
The NSW Government continues to guarantee title under the Torrens Assurance Fund (TAF).
The TAF, which compensates landowners who suffer a loss due to fraud or error in title registration, will continue to operate during the concession as it does today.
Under this legislation, the NSW Government will retain full ownership of all land title data and data must be stored in Australia.
A newly created regulator, the Office of the Registrar General, will monitor and enforce the operator’s performance in respect of defined service levels, KPIs and the security of the data.
Cobbora Holding Company Pty Limited
In late 2015 the Treasurer announced that the Government would cease the transaction process for the Cobbora Coal Mine and sell about 44,000 hectares of land for agricultural use. In addition, the water entitlements held by Cobbora Holding Company Pty Limited are being sold.
The sale process commenced in late 2016, with the 3,311ML of high security water licences sold for $14.4m. The land is being sold by public auction, in phases, with the first auctions undertaken in December 2016. The remaining land is being sold through a series of auctions taking place through 2017.
All sale proceeds are being directed to Restart NSW, to be invested into new infrastructure across the State.
Further information can be found at http://www.cobbora.com.au/