Mr. Lance Balcombe

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  www.hydro.com.au/home/Corporate/Corporate+Governance/Ex - [Cached Version]
  Published on: 3/9/2007    Last Visited: 3/9/2007  

  Lance Balcombe - General Manager Corporate
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  Lance Balcombe - General Manager Corporate

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  www.hydro.com.au/home/Corporate/Publications/Media+Rele - [Cached Version]
  Published on: 5/21/2006    Last Visited: 1/15/2008  

  Hydro Tasmania's General Manager Corporate Lance Balcombe said today that, under its Ministerial Charter, Hydro Tasmania is required to review its capital structure regularly and advise Government of the outcome.
  
  "We announced in our last Annual Report that we had undertaken a detailed review of our capital structure," Mr Balcombe said.
  
  "So what is occurring now is discussion with Government on our capital structure and an equity injection to reduce debt and improve cash flow.
  
  "It is a matter of public record and was even discussed in the Government Business Enterprise hearings last year when it was recognized that Hydro Tasmania's debt level was too high as a result of the disaggregation of the old HEC in 1998."
  
  Mr Balcombe said Hydro Tasmania had previously noted in its 2004/2005 Annual Report that the review found the existing capital structure was adequate for us operating in Tasmania prior to National Electricity Market entry, that is, as a monopoly generator with relatively steady, regulated returns.
  
  "However, it also concluded that a stronger balance sheet would provide trading advantages and greater resilience in the National Electricity Market in which we now operate," he said.
  
  "This is the issue at hand.Claims of a cash crisis are ridiculous and wrong."
  
  Mr Balcombe said Hydro Tasmania would deliver a strong profit result this financial year despite the pressures of low water storages and one-off contingency measures such as purchasing the gas turbines that are being installed at Bell Bay.
  
  "There have been significant demands on Hydro Tasmania's cash flow," Mr Balcombe said.
  
  "After eight years of below average rainfall, water storages are around 30 per cent so to meet Tasmania's electricity demand, we have expended heavily on gas, and have also spent $50 million on supplementary gas generation as a contingency measure.
  
  "The costs of these measures had an impact on our cash position but have been absorbed with no impact on customers," Mr Balcombe said.

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  www.hydro.com.au/home/Corporate/Media+Releases/Hydro+Ta - [Cached Version]
  Published on: 5/21/2006    Last Visited: 3/9/2007  

  Hydro Tasmania's General Manager Corporate Lance Balcombe said today that, under its Ministerial Charter, Hydro Tasmania is required to review its capital structure regularly and advise Government of the outcome.
  
  "We announced in our last Annual Report that we had undertaken a detailed review of our capital structure," Mr Balcombe said.
  
  "So what is occurring now is discussion with Government on our capital structure and an equity injection to reduce debt and improve cash flow.
  
  "It is a matter of public record and was even discussed in the Government Business Enterprise hearings last year when it was recognized that Hydro Tasmania's debt level was too high as a result of the disaggregation of the old HEC in 1998."
  
  Mr Balcombe said Hydro Tasmania had previously noted in its 2004/2005 Annual Report that the review found the existing capital structure was adequate for us operating in Tasmania prior to National Electricity Market entry, that is, as a monopoly generator with relatively steady, regulated returns.
  
  "However, it also concluded that a stronger balance sheet would provide trading advantages and greater resilience in the National Electricity Market in which we now operate," he said.
  
  "This is the issue at hand.Claims of a cash crisis are ridiculous and wrong."
  
  Mr Balcombe said Hydro Tasmania would deliver a strong profit result this financial year despite the pressures of low water storages and one-off contingency measures such as purchasing the gas turbines that are being installed at Bell Bay.
  
  "There have been significant demands on Hydro Tasmania's cash flow," Mr Balcombe said.
  
  "After eight years of below average rainfall, water storages are around 30 per cent so to meet Tasmania's electricity demand, we have expended heavily on gas, and have also spent $50 million on supplementary gas generation as a contingency measure.
  
  "The costs of these measures had an impact on our cash position but have been absorbed with no impact on customers," Mr Balcombe said.

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  launceston.yourguide.com.au/detail.asp?class=news&subcl - [Cached Version]
  Published on: 3/4/2007    Last Visited: 3/4/2007  

  Hydro general manager corporate Lance Balcombe said the company would come to GBEs prepared to answer all questions.
  
  "What seems to have been forgotten is the importance of Basslink to the State's economy," he said.

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  www.brandtasmania.com/newsletter.php?ACT=story&issue=61 - [Cached Version]
  Published on: 10/10/2008    Last Visited: 8/15/2008  

  Hydro Tasmania's General Manager Corporate Lance Balcombe said: "Hydro Tasmania is in a sound financial position.
  ...
  "It is a matter of public record and was even discussed in the Government Business Enterprise hearings last year when it was recognised that Hydro Tasmania's debt level was too high as a result of the disaggregation of the old HEC in 1998," Mr Balcombe said.
  
  He said a stronger balance sheet would provide trading advantages and greater resilience to Hydro Tasmania following its entry to the National Electricity Market.

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  2006 November « Basman | Explore: IT Outsourcing - [Cached Version]
  Published on: 11/1/2006    Last Visited: 12/5/2007  

  We are also very impressed with LogicaCMG's commitment to Tasmania, with having over 60 staff in their Hobart office," said Lance Balcombe, general manager corporate at Hydro Tasmania.

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  Crikey Website - Tassie Hydro stumbles as nuclear... - [Cached Version]
  Published on: 5/25/2006    Last Visited: 5/25/2006  

  Hydro's Corporate general manager, Lance Balcombe, said this week that ‘'claims of a cash crisis at the Hydro were unfounded" - but admitted that the company would have to look at other options if the request was denied.

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  FSN: LogicaCMG secures outsourcing contract renewals... - [Cached Version]
  Published on: 12/4/2006    Last Visited: 6/13/2008  

  We are also very impressed with LogicaCMG's commitment to Tasmania , with having over 60 staff in their Hobart office," said Lance Balcombe, general manager corporate at Hydro Tasmania.

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  Hydro Tasmania 2006 Annal Report - [Cached Version]
  Published on: 1/1/2005    Last Visited: 8/18/2007  

  Lance Balcombe, General Manager Corporate
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  Lance Balcombe,General Manager Corporate

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  Hydro defends staff credit card 'errors' - [Cached Version]
  Published on: 4/16/2005    Last Visited: 4/16/2005  

  Hydro Tasmania corporate general manager Lance Balcombe told the Hobart Mercury, corporate credit cards were essential to the successful running of Hydro Tasmania.
  
  "There is a wide use of credit cards in Hydro Tasmania ... it is critical to the efficient operation of our business," he said.
  
  He said the decentralised organisation had staff working around Tasmania, interstate and overseas and many needed a credit card to buy items such as machinery parts and stationery outside regular office hours.
  
  He said suppliers could be paid immediately, enabling Hydro to negotiate better prices, and many goods were bought online where a credit card was the only payment option.
  
  >The cards are available to various employees, from senior executives making business travel plans to workers buying stationery.
  
  "It must be emphasised that these cards are not an entitlement for all Hydro Tasmania employees," Mr Balcombe said.
  
  He dismissed the possibility that former Hydro employees continued using credit cards because there were no measures to retrieve the cards.
  
  He said a new credit card policy was introduced late last year based on many of the recommendations by the Tasmanian Audit Office and was reviewed regularly.
  
  He said new staff were made aware of the policy in their induction and all had to agree to the policy before receiving a card.
  
  "Improper use of these cards by staff will result in disciplinary action, even termination of employment," Mr Balcombe said.

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