Media Release
Senator the Hon Stephen Conroy
Minister for Broadband, Communications and the Digital Economy
Deputy Leader of the Government in the Senate
Minister Assisting the Prime Minister on Digital Productivity
Greenhill Caliburn Review NBN Co's Corporate Plan
The Australian Government today released an important independent assessment of NBN Co's Corporate Plan which reviewed NBN Co's key assumptions for the National Broadband Network (NBN).
The assessment of Greenhill Caliburn Pty Ltd concludes that NBN Co's Corporate Plan is what it would expect to see from an Australian blue chip company: The assessment states that the Corporate Plan provides "...the level of detail and analytical framework that would be expected from a large listed public entity.”
The government asked Greenhill Caliburn to review NBN Co Limited's Corporate Plan and provide a commercial assessment, identifying and analysing the plan's key assumptions and potential risks.
"The Greenhill Caliburn report confirms NBN Co's key assumptions underlying revenue and cost projections which provide the Government with a reasonable basis on which to make commercial decisions about the NBN,” Senator Conroy said.
"As with any infrastructure project, there are always risks, contingencies and external factors and the Government will work closely with NBN Co to put in place agreed performance indicators to track its performance and adjust strategies or operations as needed.
"We've released the Corporate Plan and now we're releasing the Executive Summary of Greenhill Caliburn's independent assessment of NBN Co's work, mindful that the complete document deals with sensitive, commercial-in-confidence material.
NBN Co's Corporate Plan shows the NBN will provide all Australians with world-class broadband, on a financially viable basis, at affordable prices.
The Corporate Plan shows taxpayers will get their investment back, with a return; the NBN will provide a rate of return significantly higher than the government bond rate; and all Australians will gain access to this world class network.
Greenhill Caliburns' Executive Summary is available at: www.dbcde.gov.au/nbn
Date: 14 February 2011
Contact for Senator Conroy: Suzie Brady 0408 258 457
Media for Greenhill Caliburn: Chairman Peter Hunt 02 9229 1407
