The Hydro Tasmania Board’s approach to good governance provides ethical and transparent oversight and direction. The Board operates according to our obligations under the Government Business Enterprises Act 1995 (GBE Act) and Guidelines for Tasmanian Government Businesses.

Corporate governance principles


Hydro Tasmania will:
  1. Recognise and respect the rights of the Corporation's owner, the State of Tasmania, and facilitate the effective exercise of those rights.

  2. Recognise and respect the legitimate interests of all stakeholders in the wider community and the legal and other obligations which the Corporation has to them.

  3. Ensure there is a solid foundation for management and oversight of the Corporation by clearly defining the roles and responsibilities of the Board and of management in a way that enables these principles to be carried through the entire organisation.

  4. Recommend appointments to the Board so as to add value and maintain a Board of balanced composition for knowledge of business requirements, size and commitment to adequately discharge its duties and responsibilities.

  5. Promote responsible and ethical decision-making and behaviour.

  6. Make timely and balanced disclosure to the shareholder of all material matters concerning the Corporation.

  7. Safeguard the integrity of the Corporation's financial reporting.

  8. Anticipate, recognise and manage business risks.

  9. Encourage enhanced performance at all levels in the Corporation.

  10. Remunerate employees of the Corporation fairly and responsibly.

  11. Ensure compliance with all statutory and other regulatory obligations.
Board Committees
Executive Committees

Development of corporate governance principles


The corporate governance principles have been developed to:

  1. Reflect the accountabilities to the owners, the external stakeholders and the employees of the Corporation. 

  2. Be consistent with the statutory obligations, regulations and the Treasurer's Instructions, the Corporate Plan, the Corporation's published values and the Ministerial Charter.

  3. Be capable of implementation on a continuing basis, evolving with community expectations and legal decisions, and be able to stand up to public scrutiny. 

  4. Support, rather than restrain, the Corporation in meeting its commercial obligations. 

  5. Facilitate the Corporation in achieving its financial and operating targets. 

  6. Be common sense guidelines that do not cause the Board in its strategic role or the management in its operational role to be overburdened with regulatory and bureaucratic processes but in doing so must put process before outcome.

  7. Recognise that, regardless of the written 'regulations and rules' of corporate governance, the effective operation of the Corporation depends upon continuing personal relationships of the key people involved.