Tasmania’s only water and sewage utility has not ruled out raising future residential bills to help manage rapidly rising debt associated with coronavirus.
Key points:
- Tasmania’s solo water and sewage utility is largely owned by the state’s 29 councils
- They have been told the entity is in financial trouble and has applied for a loan of up to $735 million
- TasWater says the money is needed to continue its capital works plan and battle the impacts of coronavirus
Figures provided to representatives from Tasmania’s 29 councils show TasWater’s underlying net loss was about $15 million before tax at June 30.
According to its last annual report, the utility recorded an operating profit of $41.3 million in 2018-19.
In a recent presentation, seen by…
Read the full article at: https://www.abc.net.au/news/2020-09-11/taswater-price-hike-not-ruled-put/12656012
