TasNetworks has continued to keep power prices low while also returning a strong profit and dividend back to Tasmania.
TasNetworks’ 2020-21 annual report tabled today shows a continued commitment to combatting climate change and supporting Tasmanians.
The Tasmanian Government knows that cost-of-living pressures affect all Tasmanians and it was pleasing that distribution network charges fell by an average of 5.2 per cent for most households and small businesses, continuing a long-term downward trend.
TasNetworks delivered an above expectation after-tax profit of $16.9 million which resulted in a dividend of $26.7m to the people of Tasmania.
Project Marinus is progressing on target which will help Tasmania double its clean energy generation to 200 per cent, cut Australia’s emissions by about 70 million tonnes between now and 2040, create thousands of Tasmanian clean energy jobs and give Tasmanians the lowest possible future power prices.
Tasmania can now meet 100 per cent of its electricity needs from renewable energy and this clean, reliable and affordable electricity is the envy of the world.
Through Project Marinus and Battery of the Nation, Tasmanians will have the lowest possible future power prices while also making the greatest contribution against climate change.
The TasNetworks annual report can be viewed here: www.tasnetworks.com.au/tasnetworksannualreport2021