The Rockliff Liberal Government will deliver millions of dollars in further energy bill relief to Tasmanians as part of our Tasmania First Energy Guarantee.
Treasurer, Michael Ferguson, has announced the first Renewable Energy Dividend will be paid to Tasmanian households this financial year.
Mr Ferguson said, “the Renewable Energy Dividend (the RED scheme) means when Hydro makes money, Tasmanians save money.
“Hydro has informed the Government it will this year be returning a $105 million dividend to government, and in line with our commitment first announced by the Premier in his State of the State address, Tasmanians will directly benefit from that return by way of a payment on their power bills.
“In recognition of cost-of-living pressures, the Rockliff Liberal Government has taken the decision to make the payment threshold even more generous.
“The RED scheme will now kick in when Hydro Tasmania pays a dividend of $90 million or more (indexed), rather than the previously announced $100 million.
“Based on Hydro’s dividend of $105 million to be paid this year, this means that $7.5 million of that will be distributed to households as a RED.
“As a result, every Tasmanian household will this year receive a credit of around $30 on their power bills, above and beyond any concessions they already receive, meaning they will pay less, and save more.”
Minister for Energy and Renewables, Nick Duigan, welcomed the announcement.
“While we are ensuring Tasmania has the lowest power prices in the nation, we are also providing direct relief on power bills.
“Even before the RED payment, power bills for concession customers have fallen this year, and we know that Tasmanians already benefit from the lowest regulated tariffs in the nation.
“Thanks to annual electricity concessions, the National Energy Bill Relief Rebate and the RED, Tasmanians will now receive $104.5 million in electricity price relief this year.
“The RED will provide even more cost-of-living relief, and ensure Tasmanians directly share in our investment in the state’s renewable energy future.”
