Mr BAYLEY - Have you expressed any concerns about TasNetworks taking on debt for the North West Transmission Developments project specifically?
Mr FERRALL - We haven't expressed concern about them taking on debt for that. TasNetworks currently has a limit of $2.5 billion, which is supported by a guarantee from the Treasurer under the recent legislative changes. Their current exposure is $2.206 billion. We are expecting TasNetworks to come back to TASCORP during this current financial year to seek further accommodation for the expansion projects they've got in line and the board of TASCORP will be considering that when that comes through.
Mr BAYLEY - When TasNetworks is in a position and lodges its application or its project proposal and request for funding support, how long will it take you to assess that application? Is it a completely internal process within TASCORP or do you commission consultants' reports to independently analysis the figures and the business case?
Mr FERRALL - We would be unlikely to commission consultants' reports. It is possible we might, but it would be generally unlikely. We have a very good team within TASCORP who are excellent at doing effectively the credit assessments they will need to do. I don't envisage we would need to do that. I would never rule that out, but I don't think that would be necessary, given the capabilities of the TASCORP team. The TASCORP board meets monthly and sometimes, a significant proposal such as this might be considered at more than one board meeting, depending on the depth and detail of the analysis required. I cannot give you a we can give it instantly or it will take a week.
Mr BAYLEY - Presumably, you have the capacity to go back to them to request additional information?
Mr FERRALL - Yes. There are provisions in the TASCORP Act which enable TASCORP ultimately through the Treasury if needed, to get information from any of the clients. We don't have any problem getting the information.
