Treasurer Nicole Manison announced changes to the Board of Territory Generation.
Ms Manison said it is vital Territory Generation are able to respond effectively to the challenges of a dynamic energy landscape as the Territory moves towards the election commitment of 50 per cent renewables by 2030.
“All Territorians deserve safe, reliable and affordable electricity and we must ensure that the Government Owned Corporations can deliver into the future,” she said.
“Since coming to government I have been concerned about the financial sustainability of Territory Generation due to structural separation.
“I commissioned a report into these matters by Mr Jim Colvin who has expertise in Government Owned Corporations and it is clear action needs to be taken to address financial performance issues.
“It is clear a new direction is needed for Territory Generation, and we have acted swiftly to ensure Government’s performance expectations.
Ms Manison thanked the outgoing Board for their service.
An interim Board has been appointed in accordance with Section 13(5) of the Government Corporation’s Act, consisting of Ms Christine Charles, and former Power and Water Corporation executives Mr Richard Galton, and Mr Dennis Bree (Interim Chair).
A recruitment process for permanent Board positions will commence in the New Year.
Source: NT Government