Business backs Labor, Liberals back in high power prices and $276 million family power tax 16 February 2024

Tas Labor

The Liberals have confirmed their plan is to keep power prices at record high levels for four more years, effectively locking in a $276 million power tax on Tasmanian families.

Yesterday’s statement is based on wholesale prices remaining at record high levels for four years, continuing the power price pain for Tasmanian families. That is the Tasmanian Liberal Government’s plan for power prices – to keep prices high and make Tasmanian families hurt.

The diabolical budget situation provides some context for why they would want to do that. Higher prices mean higher profits for Hydro Tasmania.

Hydro Tasmania made a $236 million after tax profit last financial year, off the back of record high prices paid by Tasmanian families. The Liberals have now admitted they want to see Hydro rip $1 billion of profits from Tasmanian families over the next four years.

Labor believes that Tasmanians should pay a Tasmanian Price for Tasmanian Power. Tasmanians built the Hydro – we’re the ones who should benefit.

Our policy has support from the TFGA and the TCCI, but the Liberals would rather keep prices high.

Our cap delivers on a promise that has been made for generations of Tasmanians. The Labor party loves our Hydro. We built it, we fought to save it and we will rebuild it.

Dean Winter MP

Shadow Energy Minister

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