The Tasmanian Energy Security Taskforce’s Final Report has been released today.
The Final Report reaffirms that Tasmania’s energy security is the responsibility of the Tasmanian Government, and sets out the Taskforce’s final recommendations to strengthen the frameworks that support the Government in achieving this responsibility.
The Taskforce assesses that there are no immediate threats to Tasmania’s electricity energy security now that water storages have returned to higher levels, Basslink is in service and the Tamar Valley Power Station remains available on standby.
Gas energy security is assessed as being susceptible, with a tightening supply of gas on the eastern seaboard and a Tasmanian gas transportation arrangement agreement beyond 2017 still not secured. However, recent national gas regulatory reforms provide for a legislated arbitration framework that is now available to parties to address this commercial impasse.
Modelling and analysis undertaken by the Taskforce reinforces that the following five priority actions identified in the Interim Report should be acted upon by the Tasmanian Government.
1. Define energy security and responsibilities.
2. Strengthen independent energy security monitoring and assessment.
3. Establish a more rigorous and more widely understood framework for the management of water storages.
4. Retain the Tamar Valley Power Station as a backup power station.
5. Support new on-island generation and customer innovation.
The Taskforce’s Final Report contains 36 recommendations supporting these actions to ensure households and businesses can have a high level of confidence that their energy needs will be met.
The Taskforce Chair, Mr Geoff Willis AM, said “a focus of the Final Report has been understanding the robustness of different energy security measures to future scenarios, including changing demand and drier conditions.”
“The analysis showed that retention of the Tamar Valley Power Station and maintaining higher water storages are important strategies for managing Tasmania’s energy security in an uncertain future.”
The Final Report further develops the Energy Security Risk Response Framework introduced in the Taskforce’s Interim Report. It recommends entities to undertake new ‘Monitor and Assessor’ and ‘Energy Security Coordinator’ roles, and presents the Taskforce’s final recommendations on prudent storage levels for Hydro Tasmania’s water storages.
“These two new energy security oversight roles have been designed to improve community confidence in Tasmania’s energy security” said Mr Willis.
“I am also pleased that the Taskforce and Hydro Tasmania have been able to agree on an appropriate water storage management framework”.
Mr Willis thanked the other members of the Taskforce, Ms Sibylle Krieger and Mr Tony Concannon for their significant contributions to the development of the Final Report.
“The work of the Taskforce has been undertaken during a time of significant uncertainty and national debate around energy security and energy market issues” said Mr Willis.
“Sibylle and Tony’s national and international experience have been invaluable in understanding the opportunities and challenges these changes bring to Tasmania’s energy security.”
Mr Willis also thanked the many stakeholders who engaged with the Taskforce.
To view the report online please go to www.stategrowth.tas.gov.au/tasmanian_energy_security_taskforce/final_report