27/05/2014 - 14:52

Synergy merger savings remain under wraps

27/05/2014 - 14:52

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Western Australians will have to wait until Christmas to find out how much the government saved by merging power generator and retailer Verve and Synergy.

Synergy merger savings remain under wraps
WA Treasurer Mike Nahan. Photo: Attila Csaszar.

Western Australians will have to wait until Christmas to find out how much the government saved by merging power generator and retailer Verve and Synergy.

Treasurer Mike Nahan initially said the cost savings would be revealed in the state budget just handed down.

A spokesman for the treasurer said the newly merged business had asked for more time when it couldn’t meet the deadline for the May budget.

“(The) budget cut-off did not allow it sufficient time for consolidation of the two businesses financial positions that reflect the likely merger savings,” he said.

Savings from the merger will now be detailed in the state government’s mid year review due this December.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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