The Hodgman Government is committed to ensuring power prices are as low as possible in Tasmania.
Under Labor and the Greens, power prices surged by 65 per cent. Under the Hodgman Government, prices have actually reduced by 2.4 per cent.
The report released today by the Economic Regulator shows that prices in Tasmania are in the low range of prices in Australia.
This is good news, and further proof that, as we said, energy prices wouldn’t rise as a result of the unprecedented Basslink failure.
However, the Government is becoming increasingly concerned about the rising price of power as a result of issues in the National Electricity Market, including recent power disruptions in South Australia and the impending closure of the Hazelwood Power Station.
In particular, while household prices are regulated by the Economic Regulator, a number of Tasmanian businesses pay a market price for their power, and have indicated that their power costs are increasing.
While most businesses have existing contracts that protect them from the most recent price rises, some businesses are coming to the end of their contracts and have to renegotiate new contracts.
I want to assure Tasmanians that the Government is closely monitoring this situation and the Government will continue to do everything possible to ensure the lowest possible power prices in Tasmania.