Media release – TasNetworks welcomes Hydro Tasmania’s Victorian Benefits White Paper

October 30th, 2019

Category: Media releases, News

From Lance Balcombe – TasNetworks CEO

Today Hydro Tasmania released new analysis showing how the Battery of the Nation project can help Victoria as it transitions away from fossils fuels, by providing ‘dispatchable’ Tasmanian hydro generation and deep storage to support an affordable, reliable and clean electricity supply for Victorian customers.

The Hydro Tasmania white paper: How Battery of the Nation can contribute to Victoria’s energy needs and objectives, highlights the risks of earlier than expected closure of coal powered generation as a potential catalyst for wholesale power price increases and unreliable supply of electricity to customers throughout the National Electricity Market.

The paper released by Hydro Tasmania today outlines how the Battery of the Nation initiative can also support the renewable energy ambitions of Victoria, by providing essential ‘firming capacity’ for low-cost variable wind and solar generators when the sun isn’t shining and the wind isn’t blowing.

“TasNetworks is finalising the Business Case Assessment into a second Bass Strait interconnector, Marinus Link, which is due in December. Hydro’s findings will be considered as part of TasNetworks’ assessment,” said Mr Balcombe.

“TasNetworks welcomes the latest Hydro Tasmania analysis because it further demonstrates the need for Marinus Link and its supporting transmission as the enabling infrastructure to unlock Tasmania’s dispatchable hydro generation and deep storage potential,” said Mr Balcombe.

“Hydro Tasmania’s white paper highlights the challenges and opportunities we face as Australia transitions to low-cost renewable electricity. The white paper shows that Tasmania can play a significant role in helping our neighbours in Victoria and the NEM more broadly to ensure a secure and reliable supply of electricity,” Mr Balcombe said.

“It’s encouraging to note Hydro’s call for proactive support for interconnection. Without investment in Marinus Link, the contributions that the Battery of the Nation initiative can make to Victoria’s objectives and the broader NEM cannot be realised,” Mr Balcombe said.

“TasNetworks also welcomes the recent Commonwealth Government announcement of a one billion dollar grid reliability fund, which recognizes the critical role of electricity networks in a transforming energy sector,” Mr Balcombe said.

Media contact Dan Sinkovits 0417 767 124

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