Real Electricity Price Relief Right Now, Under Our 2030 Strong Plan

Liberal Tasmania
  • Jeremy Rockliff Premier, Minister for State Development, Trade and the Antarctic, Minister for Tourism and Hospitality, Minister for Mental Health and Wellbeing, Member for Braddon
  • Michael Ferguson Deputy Premier, Treasurer, Minister for Infrastructure and Transport, Minister for Planning, Member for Bass
  • Nick Duigan Minister for Energy and Renewables, Minister for Parks and Heritage, Minister for Small Business, Liberal Member for Windermere

“Our 2030 Strong Plan for Tasmania’s Future is all about taking action now on the issues affecting Tasmanians most, and the most important of those is cost of living,” Premier Jeremy Rockliff said.

“We are going to supercharge the Renewable Energy Dividend that we introduced last year, to deliver a one-off hip-pocket relief to every Tasmanian household.

“That’s $250 for 254,000 Tasmanian households, and it’s going to be credited to their electricity accounts before the end of this financial year.

“We will also deliver the supercharged dividend to the small businesses that keep our economy ticking, with $300 for 35,000 small businesses.

“Hydro was built by Tasmanians, for Tasmanians, and the beauty of the Renewable Energy Dividend is that all Tasmanians get to share in its profits.”

Energy Minister Nick Duigan said Hydro has a strong track record of being a successful business that has delivered strong dividends for Tasmania.

“The economic regulator has confirmed that we have the lowest regulated electricity prices in the nation, under Labor prices went up 65 per cent,” Minister Duigan said.

“But we know that so many Tasmanians are still doing it tough, and we need to do more.

“Under our existing Renewable Energy Dividend, every year that Hydro returns a dividend in excess of $90 million, Tasmanians directly share in it – with the balance used to help fund essential services such as health and education.

“Currently, Hydro’s dividend of $105 million to be paid this year means that Tasmanians will share in $7.5 million, with a $30 credit on their power bills.

“We’ve taken the decision to make a one-off dividend payment with the supercharged dividend, to deliver action right now on the cost-of-living pressures affecting Tasmanians.

“This means that Tasmanians will receive $250 credited to their electricity account prior to 30 June, thanks to the supercharged Renewable Energy Dividend.”

Treasurer Michael Ferguson said that this was a sensible and affordable dividend, in contrast to the reckless electricity hoax put forward by Labor.

“We have carefully considered and fully costed this dividend, and that’s an important contrast to Labor,” Minister Ferguson said.

“There is no magic money tree.

“We will deliver $250 to every Tasmanian and $300 to small businesses, costing $74 million.

“Yet, Labor is promising more and suggesting it is costing less – $400 to everyone, allegedly costing just $50 million.

“Basic maths tells you that Labor’s figures just don’t add up and is a complete hoax, which simply can’t be afforded without them either cutting essential services such as health, raising taxes.

“Only a re-elected majority Liberal Government will deliver the electricity price relief that Tasmanians need right now, through our 2030 Strong Plan for Tasmania’s Future.”

/Public Release. View in full here.