The Liberal Government’s energy policy failures over 10 years in government are putting a massive handbrake on Tasmania’s economy.
Under the Liberals’ watch, TasNetworks has racked up close to $2 billion of debt, with a debt to equity ratio of over 180 per cent according to the Tasmanian Audit Office.
To make the problem worse, the Liberals have pulled more than $400 million out of TasNetworks as dividends since 2015.
Labor understands this reckless financial mismanagement has limited TasNetworks’ ability to borrow funds, which is a key reason the North West Transmission Development has had to be wound back.
Worryingly, when first asked about the impact TasNetworks’ levels of debt had on the North West Transmission Development, learner Energy Minister Nick Duigan was a fish out of water who didn’t go close to acknowledging the question.
This is a very serious matter, but the person supposedly in charge, clearly doesn’t have a clue about the details involved.
Tasmanian businesses are begging for new energy generation, with the TCCI declaring the state is in an energy crisis.
The Minister said if any proponents that have relied on the government’s promise of connection need the transmission line they will build it, but neither the Minister or the Premier could give any confidence that the Liberals will be allowed to.
Tasmania’s state-owned energy businesses should be viewed as key economic assets because they offer the state a huge economic advantage.
Unfortunately, after 10 years in office the Liberals are treating them as ATMs, completely negating their benefit.
Dean Winter MP
Shadow Minister for Energy
