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The Snowy Joint Government Enterprise (JGE) - a combined Victorian, New South Wales and Commonwealth initiative to increase environmental flows in the Snowy and Murray Rivers - this week opens for business following an announcement by Ministers from the three governments.
The announcement was made by the Australian Minister for Industry, Tourism and Resources, Ian Macfarlane, Victoria's Minister for Environment and Water, John Thwaites, and NSW's Minister for Agriculture and Fisheries, Ian Macdonald.
"The establishment of the Snowy Joint Government Enterprise paves the way for providing promised environmental flows to the Snowy and Murray Rivers. The way is now open to restore the health of these vitally important rivers," Mr Macfarlane said.
Conceived as part of the program to corporatise the Snowy Mountains Hydro-Electric Authority in June 2002, the Snowy JGE is now established as a Corporations Act company, jointly owned by the Commonwealth, Victorian and NSW Governments, with a board of three independent directors. The Directors' details are attached.
Victoria and NSW will each contribute $150 million to the JGE - funds which will be used to restore environmental flows to the Snowy River. The Commonwealth will contribute $75 million to restore flows to Murray River. Contributions by all three governments will be spread over a 10-year period.
The JGE will be responsible for delivering up to 212 gigalitres of increased environmental flows to the Snowy River and up to 70 gigalitres of dedicated environmental flows to the Murray.
Mr Macdonald said the JGE's first task was to achieve water savings to replace the water now being "borrowed" from the Snowy Scheme until 2005. The borrowed water is being used to stop further environmental deterioration in the Snowy River while the second outlet at Jindabyne Dam is constructed, he said.
Mr Thwaites said the Victorian Government had already begun implementing a $25 million package of water savings projects. He said these projects would provide up to 25 gigalitres in water savings each year.
Murrumbidgee Irrigation has also provided a proposal to the NSW Government for an integrated water savings project for the Barren Box Swamp. NSW Minister Ian Macdonald said his government saw the project as worthy of assessment by the JGE in its first year. He said the NSW government would be asking the JGE to assess the proposal as a matter of priority.
It is proposed the JGE will be located near the Murray River at Albury.
Media Contact: Kirsty Boazman, Minister Macfarlane's office, (02) 6277 7580
Directors' Biographies
Richard Bull
Mr Bull is a former NSW parliamentary leader of the National Party, deputy leader of the NSW Opposition and Member of the NSW Legislative Council. He was Shadow Minister for Agriculture between 1995 and 1999. Since his retirement from parliament, Mr Bull has provided public affairs and policy advice to the NSW government and to the resources and agricultural sectors.
Neil O'Keefe
Mr O'Keefe, the retired former Member for the federal seat of Burke, in Victoria, is an economics graduate from Latrobe University with significant experience and expertise in the areas of finance, infrastructure, water, energy, agriculture and resources. He is currently Chair of the Centre for Public Infrastructure and Director of Melbourne University Private.
Peter McCamish
Mr McCamish is a Goulburn Valley horticulturalist and director of SPC Ardmona Ltd and SD Reid Holdings Pty Ltd. Mr McCamish has significant experience as a company director and is a Fellow of the Australian Institute of Company Directors and an Affiliate of the Securities Institute of Australia. He is also a member of the Goulburn Broken Catchment Management Authority Shepparton Irrigation Implementation Committee.
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