Tabling the half-yearly reports for the State's eight corporatised electricity businesses last week, Mr Egan said forecasts for the total full-year payments to the State would be lower than the average return in the past three years.

The electricity businesses' projected full-year dividends and tax equivalent payments to the State would be about $574 million in 2001-02 compared to an average of $660 million annual return over the past three financial years.

This is lower than the aggregate $627 million forecast in the 2001-02 statements of corporate intent for the corporations, which were also tabled.

He blamed lower-than-expected forecast full-year returns for all three State-owned generation corporations on depressed power demand over summer, when weather conditions were mild.