The Tasmanian Liberal Government is delivering new renewable energy generation, to create jobs and ensure Tasmania continues to have the lowest power prices in the nation.
Minister for Energy and Renewables, Nick Duigan, said the Government is driving new renewable energy generation to help develop the energy Tasmania wants and needs to grow.
"Bringing new generation online for Tasmania's future energy needs has previously been driven by private sector proponents who have done a lot of the heavy lifting," Minister Duigan said.
"Leveraging our Hydro history, knowledge and assets will mean that cheap on-island, renewable generation continues to provide Tasmania with the lowest power prices in the nation.
"Lifting the 40MW legislative constraints to building new generation from Hydro Tasmania will create jobs for Tasmanians during construction and ongoing opportunities with industries who come, and stay, in Tasmania to benefit from our affordable, renewable energy.
"Removing the cap in the Hydro Act and lifting the limit for new generation will remove barriers from Hydro to bring on new generation faster.
"By directing Hydro back to its foundation principles, we can help deliver the lowest power prices in the nation, while ensuring we reap the same benefits the Hydro pioneers did in building new energy generation in the first place.
"We will deliver this legislative change through new Regulations under the Hydro-Electric Corporation Act 1995, which is on track to be made within our first 100 days, a commitment made as part of our 2030 Strong Plan for Tasmania's Future."
Regulations are an established and transparent legislative instrument, subject to normal parliamentary scrutiny. The Regulation is currently on track for completion by early July.
"The Hydro has been a cornerstone of Tasmania's economic growth over the past century, and these changes will ensure Hydro is once again a Tasmanian powerhouse that drives our economic growth into the future – a true economic enabler," Minister Duigan said.
"Our 2030 Strong Plan for Tasmania's Future is all about ensuring our State has the lowest possible power prices, enabling our energy sector to have a secure future, and creating economic growth and job creation."
