The Rockliff Liberal Government is the strongest supporter of Hydro Tasmania which continues to deliver clean energy dividends for the State.
Hydro Tasmania has a proud history of more than a century producing renewable energy and continues to meet the State’s energy requirements while also preparing the economy for more electrification.
Minister for Energy and Renewables, Nick Duigan, said Hydro Tasmania’s 2022-23 Annual Report showed a profit of $168 million before tax which will deliver a $105 million dividend to Tasmania, which was above the $74 million returned in 2022.
“It is extremely pleasing that Hydro has carefully managed our storages with levels well above the prudent storage levels at 40.4 per cent (June 30) with a dry year forecast – noting levels are currently at 46.6 per cent,” Minister Duigan said.
“The dividends generated by Hydro Tasmania benefit all Tasmanians by supporting essential services like health, education and housing, and it shows the wisdom of the government re-investing in Hydro infrastructure upgrades.
“Hydro Tasmania CEO Ian Brooksbank advises that Hydro is investing in its asset fleet of 30 power stations and 54 dams to maximise our hydropower capacity while supporting the growth and electrification of the Tasmanian economy.
“This investment includes $30 million to modernise the power stations at Rowallan, Poatina, Lemonthyme and Meadowbank.
“Another major investment is $123 million into the future of Tarraleah which is readying the scheme for future redevelopment with the potential to increase capacity from 90MW to 190MW and deliver 30 per cent more energy from the same amount of water.
“This means modernising and maintaining existing infrastructure and planning for future needs through the Battery of the Nation projects.
“It is also very pleasing that Hydro’s investment in its people and training has resulted in its lowest annual injury rate on record.”
Minister Duigan congratulated Hydro Tasmania on another strong year and said he looked forward to an even more exciting future as Tasmania looks to double our renewables electricity generation by 2040.
