MONDAY, NOVEMBER 10, 1986
THE GOVEF REPORT ON SATT POWER STATION.
THE REPORT RESPONSE TO AM
3
MAY REPORT PRESENTED TO LESCO
DURING THE UNDERTOOK TO PER REGARDING SAFE
*****
TODAY (MONDAY) PUBLISHED A DETAILED 103-PAGE
TARIFF ARRANGEMENTS FOR THE DAYA BAY NUCLEAR
BEEN PRESENTED TO THE LEGISLATIVE COUNCIL IN BURNMENT DEBATE ON THE SUBJECT ON OCTOBER 15.
BATE THE FINANCIAL SECRETARY, MR PIERS JACOBS,
PAPER GIVING DETAILS OF THE ARRANGEMENTS TARIFF FOR THE PURCHASE OF ELECTRICITY FROM THE DAYA BAY PLAN: TOGETHER WITH SUCH SUPPORTING DOCUMENTS WHICH WOULD NOT BREACH COMMERCIAL CONFIDENTIALITY.
THE LEGISLATIVE COUNCIL ALSO ASKED THE GOVERNMENT TO EXPLAIN WHETHER OR NOT SICH ARRANGEMENTS WOULD SUFFICIENTLY SAFEGUARD THE LONG TERM INTERESTS OF THE PEOPLE OF HONG KONG.
IN THE REPORT THE GOVERNMENT EMPHASISES THAT IT REMAINS CONFIDENT THAT THE DAYA BAY STATION WAS A SUITABLE SOURCE OF ELECTRICITY TO DE HONG KONG'S FUTURE NEEDS AND THAT ALL INVOLVED IN THE PROJECT
DETERMINED TO ENSURE ITS SAFETY AND MAKE IT A SUCCESS.
IT CONCLUDED THAT FOR HONG KONG NOT TO HAVE PARTICIPATED IN THE PROJECT COULD HAVE RESULTED IN A NUCLEAR POWER STATION AT DAYA BAY ABOUT WHICH HONG KONG WOULD HAVE HAD LITTLE INFORMATION AND FROM WHICH IT WOULD HAVE DERIVED NO ECONOMIC ADVANTAGE.
THE REPORT SETRODUCES MORE THAN 20 PAGES OF DOCUMENTS FROM CHINA LIGHT AND POWER COMPANY LIMITED (CLP) AND FROM THE GOVERNMENT'S FINCIAL CONSULTANTS ON THE PROJECT, LAZARD BROTHERS AND COMPANY LIMITED.
BUT, THE ARRANGEMENTS, S
RELEASED AS 1:
CONSTITUTED
中
ST NOTED, CERTAIN INFORMATION ABOUT THE OVERALL
AS TAXATION AND PROFIT RATES. COULD NOT BE REGARDED AS BEING COMMERCIALLY SENSITIVE OR
ID STATE INFORMATION.
THE REPORT TES THAT AFTER STUDYING CLP'S FINANCIAL MEMORANDUM ON DEALED COSTING OF COAL-FIRED AND NUCLEAR POWER OPTION IN MAY 19. THE GOVERNMENT ASKED LAZARD BROTHERS TO REASSESS THE SO PRESENTED IN THE MEMORANDUM.
ALSO REPRISED IN THE REPORT ARE LAZARD BROTHERS' GRAPHS WHICH ILLUST! MARIOUS SCENARIOS BASED ON LESS FAVOURABLE CONDITIONS AND ARE THE NUCLEAR AND COAL-FIRED STATIONS. THE LAZARDS CONCESION ON EACH SCENARIO WAS THAT THE NUCLEAR OPTION WAS THE ST ADVANTAGEOUS.
THE CONTE OF THE COMPRA SIGNIFICANT B
CONCLUSION ON TARIFFS WAST +THIS REASSESSMENT
T OF ELECTRICITY CONFIRMS THERE HAS BEEN A MT 19 EXPECTED BENEFITS TO CLP CONSUMERS ...+
THE REPORT