23 May 2019
Guy Barnett MP
2019-20 Budget: Driving down energy prices through renewable investment
The Hodgman Liberal Government is committed to making Tasmania the Battery of the Nation and ensuring that our state continues to enjoy low cost, reliable and clean energy.
The State Budget 2019-20 is a record infrastructure budget and we are maintaining the momentum with up to $56 million to progress our state-building Battery of the Nation and Marinus link projects locked into the Budget.
We are driving renewable energy developments including pumped hydro and wind farms, which will inject billions of dollars into our economy and deliver thousands of jobs over the years to come.
With these initiatives, Tasmania is well on the way to achieving 100 per cent self-sufficiency in renewable generation by 2022 – a goal which will be achieved under a majority Hodgman Liberal Government.
The Budget also delivers on our commitments to keeping energy prices down, by capping regulated electricity prices at no more than CPI for a further two years, and committing $5.5 million to extend the energy rebates for commercial and industrial businesses coming off contract.
To ensure Tasmanians enjoy the lowest energy prices long-term, we are undertaking a review of the wholesale pricing framework to delink our household and small business bills from volatile Victorian prices.
This year’s Budget is about maintaining the momentum and investing for growth, which is why we are focussed on reducing the cost of living and doing business in Tasmania. Other initiatives helping business and households include: