Jersey Electricity, Jersey New Waterworks, and Jersey Post, presentation of annual report and accounts 2009 to the States

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A decision made 3 June 2010 regarding: Jersey Electricity, Jersey New Waterworks, and Jersey Post, presentation of annual report and accounts 2009 to the States.

Decision Reference: MD-TR-2010-0082
Decision Summary Title:	Presentation of 3 Utility Companies accounts to the States		Date of Decision Summary:	24 May 2010
Decision Summary Author:	Strategic Investments Manager		Decision Summary: Public or Exempt?	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title:	3 States of Jersey Owned Utility Company Financial Reports and Accounts - 2009		Date of Written Report:	24 May 2010
Written Report Author:	Strategic Investments Manager		Written Report : Public or Exempt?	Public
Subject: Utility companies (Jersey Post International Limited; The Jersey New Waterworks Company Limited and Jersey Electricity Company) - presentation of annual accounts for the year ended 2009.
Decision(s): The Minister for Treasury and Resources decided to present the annual accounts for 2009 for Jersey Post International Limited; The Jersey New Waterworks Company Limited and Jersey Electricity Company to the States.
Reason(s) for decision: To present the States owned company’s accounts to the States.
Resource Implications: There are no further financial or manpower implications.
Action required: The Greffier of the States is requested to present the attached company reports and accounts to the States.
Signature:		Position: Senator P. F.C. Ozouf, Minister for Treasury and Resources
Date Signed:		Date of Decision:

Jersey Electricity, Jersey New Waterworks, and Jersey Post, presentation of annual report and accounts 2009 to the States

Treasury and Resources

Ministerial Decision Report

3 States of Jersey Owned Utility Company Financial Reports and Accounts - 2009

1. Purpose of Report

To present t hree of the four Utility Company’s annual accounts to the States for the year ended 2009.

2. Background

As the States is a major shareholder and in some cases the sole shareholder in each of the four States owned utility companies. The Minister has decided to present the financial reports and accounts for the four companies to the States.

In the States 2008 annual report and accounts, reference is made to the States interest in these four companies as “Strategic Investments” They comprise of The Jersey New Waterworks Company Limited; The Jersey Electricity Company Limited, Jersey Post International Limited and JT Group Limited.

3. Current Situation and Proposal

As only three of the four Utility Companies 2009 Annual General Meetings have been held to date, the Minister has decided to present the financial reports and accounts for these three companies now, namely The Jersey New Waterworks Company Limited; The Jersey Electricity Company Limited and Jersey Post International Limited.

At a later date JT Group Limited accounts will be presented after their Annual General Meeting on 30th June 2010.

4. Recommendation

For the Minister to ask the Greffier of the States to present the attached company reports and accounts to the States.

5. Reason for Decision

To present the annual accounts for three of the four utility companies to the States.

JT Group Limited accounts will be presented at a later date after their Annual General Meeting on 30th June 2010.

6. Resource Implications

This decision has no resource implications.