The Rockliff Liberal Government will deliver a Tasmania First Energy Guarantee.
“Today, I am announcing the first step in the Tasmania First Energy Guarantee that my Government will deliver,” Premier Jeremy Rockliff said.
“Our Tasmania First Energy Guarantee will secure Tasmanian energy for Tasmanians, at Tasmanian prices.
“The first step in this plan is securing the future of the Marinus Link Project on terms that put Tasmania first.
“For the right price, Marinus Link is an important project which will help boost additional renewable energy development in Tasmania and support growth in business and industry.
“The right price does not mean any price, and from day one we have said that the cost-benefits of this project must stack up in favour of Tasmanians.
“Under the Agreement we made with the Australian Government in October last year, we agreed to provide a third of the equity required for the project, based on the then $3.1 billion for Marinus Link.
“The initial agreement for Marinus Link intended the project to be funded on the basis of 80 per cent debt finance and 20 per cent equity shared equally between the Commonwealth, Tasmania and Victoria.
“However, we have now been advised of material and significant cost increase for Marinus Link. This would mean a significant extra cost burden for Tasmania.
“Subsequently, we wrote to the Prime Minister and Minister Bowen in July advising of our concerns about the increasing costs of the Marinus Link Project, and I have since spoken to the Prime Minister directly about it.
“I have asked the Prime Minister to consider alternative funding options for the increased costs of this project. Those discussions are continuing, and I am confident that we will reach a good outcome for Tasmania soon.
Minister for Energy and Renewables Mr Guy Barnett said the Government would always put Tasmania first.
“We have always been clear that Tasmania would only pay its fair share of this project, which is of national significance,” Minister Barnett said.
“In fact, Tasmania has already committed over $100 million to Marinus Link, the North West Transmission Development and the Battery of the Nation projects.
“However, the updated estimates of Marinus means we must revisit the project to ensure it’s in Tasmania’s best interests.
“For the right price, Marinus will be good for Tasmania, providing at massive economic and jobs boost, huge advances in bringing on more renewable energy, and continuing to ensure Tasmanians always have among the nation’s lowest power prices.
“Our state has world-class hydro and wind resources. If other states want this, they should pay for it, or the Federal Government should step up. We will always put Tasmania and Tasmanians first.”
