Directors’ report (continued) 2024/25 dividends paid
Public safety Western Power is required to maintain and replace network assets in a way that delivers to the community a safe, reliable and affordable connection to electricity. All electricity networks in Australia including the SWIN, have an inherent level of risk in operation. This risk arises due to the inherent nature of electricity and also from environmental and climate related impact on the SWIN. Safety risks associated with the SWIN are managed in accordance with Western Power’s Asset Management System. This System meets the requirements of the transmission and distribution licenses issued by the Economic Regulation Authority ( ERA ), and: • has been independently assessed (with approval from the ERA) as compliant with the Electricity Network Safety Management System ( ENSMS ) requirements stipulated in the Australian Standard ( AS ) 5577 ENSMS and the Electricity (Network Safety) Regulations 2015 (WA) ; and • is certified to the requirements of the International Organisation for Standardisation ( ISO ) 55001: 2014 Asset management – management systems. Western Power’s Asset Management System ensures continued management of the SWIN in an effective and sustainable manner considering the risk posed. Asset utilisation Western Power faces rapid changes driven by climate change, decarbonisation, increased electricity demand and evolving technologies. To achieve this, Western Power is progressing a number of critical initiatives: • supporting the government’s SWIS Demand Assessment ( SWISDA ) and Transmission Infrastructure Plan ( TxIP ) progressing transmission network expansion and augmentations to support decarbonisation and forecast major customer load, generation and storage connections • supporting State and Federal Government initiatives to increase housing supply by assessing and initiating projects to augment and extend the network to provide power to government specified priority areas. Furthermore, the business continues to actively collaborate across various government departments and servicing agencies • delivering capacity enhancement to increase available distribution capacity. Western Power also manages a large, ageing network so it remains a continued focus to maximise the utilisation and life of its existing assets in an innovative and sustainable manner. Western Power’s annual ‘State of the Infrastructure’ report as published on the website, outlines the current health and performance of the network, plus highlights the associated risks.
During the reporting year ended 30 June 2025, Western Power paid the State Government dividends of $71 million (30 June 2024: nil). This is in-line with written notice from the Minister for Energy, and pursuant to sections 140 and 141 of the GTE Act respectively – being the directors recommended: • a final dividend of $71 million for the year ended 30 June 2024 – paid in December 2024; • a nil special dividend for the sale of land surplus to requirements; and • a nil interim dividend for the reporting year ended 30 June 2025. Dividends not recognised at the end of the current reporting year Since the end of 30 June 2025, the directors have resolved to recommend, subject to the approval of the Minister for Energy, a dividend of $204 million for the reporting year ended 30 June 2025, being: • a final dividend of $253 million in-line with Western Power’s net profit after income tax equivalent; plus • a special dividend of $1 million for sale of land surplus to requirements, less • $50 million retention (per year between 2024/25 to 2027/28) in line with approval by the Expenditure Review Committee as contribution toward the Housing Enabling Infrastructure Fund for housing- related infrastructure commitments. For more details refer to note 24 ‘dividends’ in the financial statements of this financial report. Matters subsequent to the end of the current reporting year Other than the events disclosed in note 29 of the financial statements within this financial report, there are no matters or circumstances that have arisen since 30 June 2025 and the date of this report that are likely, in the opinion of the directors, to significantly affect the operations of Western Power, the results of those operations or the state of affairs of Western Power in subsequent reporting years. Current and likely developments and their expected results of operations In accordance with section 12 of GTE Regulations, the current and likely developments in Western Power’s operations and their expected results are set out below.
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Western Power Annual Report 2025
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