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WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY M.R. HIGGINS OF ST. HELIER
ANSWER TO BE TABLED ON TUESDAY 24TH FEBRUARY 2009
Question
1. Would the Minister for Treasury and Resources -
- complete the following table relating to the stage payments made to the main contractor under the design and build contract for the Energy from Waste incinerator plant, showing the dates of each stage payment and the amount paid at each stage ?
Date of Stage payment | Euro Value of Payment | Sterling Value of Payment | Rate of exchange at which the Euros were purchased to make payment |
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- State whether any additional payments have been made in advance of their anticipated stage payment dates under the contract and if so, the date and value of any such payments made.
Answer
- TTS have advised that the detail of the individual payments is commercially confidential and the contract with the supplier prohibits the release of detailed information on the cost of milestone payments. However, the table below summarises euro payments paid to date are:
Date of Stage payment | Miles tone | Euro Value of Payment | Sterling Value of Payment | Average Rate of exchange at which the Euros were purchased to make payment |
6 payments made between December 2008 and February 2009 | Euro payment milestones | 27,213,899 | £25,373,722 | 1.073 |
Sterling payment milestones |
| £3,297,022 |
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- No additional payments have been made to the contractor in advance of their anticipated stage payment dates. Upon advice, a further 5m have, however, been acquired at an exchange rate of 1.15 in line with the current policy. These euros will be used to meet all the forthcoming payments due to the contractor between February and October 2009.