Generation Contracts
As the Keneally Labor government moved to privatise components of the electricity industry in New South Wales including the electricity trading rights of Delta Electricity, on 14 December 2010 four of the five Directors of Delta (including the Chairman) suddenly stood down in protest over the sale. On 28 February 2011, at the direction of the New South Wales Government, the newly constituted Board of Delta entered into contracts with energy retailer, TRUenergy, for the supply of electricity under Generation Trading Agreements from the Mt Piper and Wallerwang power stations. A subsequent NSW Parliamentary Inquiry was held; however the Directors of Delta who resigned refused to give evidence before the Inquiry unless guarantees of parliamentary privilege would be given by the Government. Keneally refused to provides guarantees and, according to the Inquiry Chairman, the Government stymied the Inquiry's ability to uncover the facts as to the resignation of the directors.
Read more about this topic: Delta Electricity
Famous quotes containing the words generation and/or contracts:
“By this unprincipled facility of changing the state as often, and as much, and in as many ways as there are floating fancies or fashions, the whole chain and continuity of the commonwealth would be broken. No one generation could link with the other. Men would become little better than the flies of a summer.”
—Edmund Burke (1729–1797)
“Bankers, nepotists, contracts and talkies: on four fingers one may count the leeches which have sucked a young and vigorous industry into paresis.”
—Dalton Trumbo (1905–1976)