The Tasmanian Liberal Government understands that many Tasmanians are facing cost-of-living concerns and that keeping downward pressure on electricity bills is extremely important.
The TasNetworks 2021-22 annual report shows that in a difficult inflationary environment, network charges were kept to about the level of CPI and that TasNetworks made an after-tax profit of $39.7 million with a further $226 million invested back into upgrading and maintaining the network for the benefit of customers.
Network charges make up about 40 per cent of a typical Tasmanian power bill and it is pleasing that TasNetworks has managed to reduce transmission network charges over several consecutive years, and they are now at their lowest level since 2007-08.
To protect energy security for customers, TasNetworks has been undertaking essential repairs to the critical north-south 220kV transmission line between Waddamana and Palmerston that was damaged in a large landslip that occurred on the eastern edge of the Great Western Tiers on October 14.
Debris from the landslip impacted a number of TasNetworks towers with at least one tower base destroyed and a number of adjacent towers also compromised.
TasNetworks engineers have been working as quickly as possible to rectify the transmission line damage to ensure that there is no disruption to power supplies to customers.
I am pleased to report that following those critical repairs this vital transmission line connection was re-energised today.
Importantly, the Tasmanian power system held up well since the incident occurred, with all major protection systems operating as intended.
The Independent Economic Regulator recently confirmed that Tasmania continues to deliver the lowest, or among the lowest, regulated electricity prices for households and businesses in Australia and TasNetworks is at the front line of the Government’s plan
to double our renewable energy output to 200 per cent by 2040 by supporting Marinus Link, which will put further downward pressure on prices.