Bundaberg Port Authority

The Bundaberg Port Authority (BPA) was dissolved by the Government Owned Corporation (Bundaberg Port Authority Wind-up) Regulation 2007 which was made on 27 September 2007 and notified in the gazette on 28 September 2007.

In accordance with the regulation, from 1 October 2007, the assets and liabilities of BPA were transferred to the Bundaberg Port Corporation Pty Ltd, a wholly owned subsidiary of the Port of Brisbane Corporation Limited (PBC). The employees of BPA were transferred to PBC.

The merger of BPA with PBC is aimed at ensuring the long-term future of the Bundaberg port and that it continues to operate as an important component of the State’s port network.

Enertrade

On 15 May 2007, the Government announced its decision to reallocate the business activities of Queensland Power Trading Corporation (trading as Enertrade) to other energy GOCs. This is part of the State’s initiatives to improve the performance of its portfolio of electricity GOCs in an increasingly challenging electricity market in Queensland.

These changes will ensure that Enertrade’s strategic assets and their associated businesses are optimally positioned within the GOC portfolio to enable the continued growth and security of the Queensland electricity and gas markets. It will also provide security for the future for the Enertrade’s skilled and professional workforce and improved longer term employment opportunities for staff transitioning during the process.

Enertrade manages a number of power purchase agreements (PPAs), which as a portfolio, is not profitable, resulting in Enertrade being required to operate as a loss making enterprise. More recently Enertrade has developed a commercially viable and strategically located gas pipeline business servicing north Queensland.

The changes will involve:

• Barcaldine Power Station and Cheepie to Barcaldine Gas Pipeline transferring to Ergon Energy.
• PPAs and associated businesses of Collinsville Power Stations transferring to CS Energy.
• PPAs and associated businesses of Gladstone Power Station transferring to Stanwell Corporation.
• The power purchase agreement relating to Oakey Power Station will be assigned by way of an open tender process.

KPMG has been engaged by the Government to work with the Enertrade management to ensure a successful transition.

It is proposed that these mergers will be completed by 30 September 2007 or earlier.

Golden Casket

The Golden Casket transaction reached completion on Friday 29 June 2007. The Government transferred the State's shareholding in Golden Casket Lottery Corporation Limited to Tattersall's Limited and a Licensed Lottery Operator Agreement was entered into between the parties. Under the agreement, Golden Casket will operate lotteries in Queensland until 2072 using the State's Lottery Licence (held by Queensland Lottery Corporation Pty Ltd). As part of the transaction, the Lotteries Amendment Act 2007 commenced on 29 June 2007, introducing the new licensing arrangements for the conduct of lotteries in Queensland. Queensland Lottery Corporation Pty Ltd has been issued a Lottery Licence and Golden Casket has been issued a Lottery Operator's Licence.

The State retains ownership of the key Golden Casket brands and trade marks, which have been licensed for use to Golden Casket.