Government commercial businesses

The Queensland Government owns a number of commercial businesses in energy, water, rail and ports. The Queensland Government established these businesses on behalf of Queenslanders because they were services critical to the economy, they provided critical infrastructure to the state, and because the marketplace did not support the private establishment of these businesses. Over the years, the Queensland Government has corporatised these commercial businesses to enable them to operate efficiently.

Queensland Treasury monitors the performance of all these Queensland Government-Owned Corporations (GOCs) on behalf of the Treasurer, who is their shareholding minister. Treasury also monitors the performance of two statutory bodies which have commercial operations. The statutory bodies and GOCs are listed below.

Treasury is responsible for:

  • negotiating the annual performance contract and five-yearly plans for the businesses and monitoring performance against targets throughout the year
  • assessing major investment proposals to ensure they fit the government’s objectives for the community
  • advising responsible and shareholding Ministers of critical current and emerging issues that may impact on government-owned businesses
  • administering the process for appointments to boards of government-owned businesses.

All GOCs are bound by a regulatory framework that includes the Queensland Government Owned Corporations Act 1993, the federal Corporations Act 2001 and the Code of practice for government-owned corporations’ financial arrangements. The code outlines approval requirements and guidelines within which GOCs must operate in entering into financial arrangements. A number of other guidance documents also guide how GOCs conduct business.

List of government-owned corporations

Name

Shareholding ministers

Date corporatised (under state GOC Act)

Date converted to company (under  federal Corporations Act 2001)

Energy generation

 

 

 

CS Energy Ltd *

  • Treasurer and Minister for Trade
  • Minister for Energy and Water Supply

1 July 1997

Stanwell Corporation Ltd *

1 July 1997 (Tarong Energy Corporation Limited converted to a subsidiary of Stanwell Corporation Limited on 1 July 2011)

Energy transmission

 

 

 

Queensland Electricity Transmission Corporation Limited (Powerlink Queensland) *

  • Treasurer and Minister for Trade
  • Minister for Energy and Water Supply

1 July 1997

Energy distribution

 

 

 

ENERGEX Ltd *

  • Treasurer and Minister for Trade
  • Minister for Energy and Water Supply

1 July 1997

Ergon Energy Corporation Ltd *

1 July 1999

Ports

 

 

 

Far North Queensland Ports Corporation Limited (Ports North)

  • Treasurer and Minister for Trade
  • Minister for Transport and Main Roads

1 July 1995

1 July 2008
(Previously Cairns Ports Limited)

Gladstone Ports Corporation Limited *

1 July 1994
(Gladstone Port Authority and Rockhampton Port Authority merged on 1 July 2004)

1 July 2008

North Queensland Bulk Ports Corporation Limited

19 June 2009
(Mackay Ports Limited and Ports Corporation of Queensland Limited converted to subsidiary of North Queensland Bulk Ports Corporation Limited on 2 July 2009)

1 July 2009

Port of Townsville Limited *

1 July 1995

1 July 2008

Water

 

 

 

SunWater Limited*

  • Treasurer and Minister for Trade
  • Minister for Energy and Water Supply

1 October 2000

1 July 2008

Other

 

 

 

QIC Limited

  • Premier of Queensland
  • Treasurer and Minister for Trade

1 October 1994

30 September 2008

 

List of statutory bodies

Statutory body

Responsible ministers

Date established

Rail 

Queensland Rail

  • Treasurer and Minister for Trade
  • Minister for Transport and Main Roads

3 May 2013

Water

Queensland Bulk Water Supply Authority (trading as Seqwater)

  • Treasurer and Minister for Trade
  • Minister for Energy and Water Supply

1 January 2013