Government energised by ‘battery of the nation’ bid

Tassie is edging closer to becoming the ‘battery of the nation’ with federal Energy Minister Angus Taylor to unveil the next step.

Lake Repulse in the Central Highlands spilling after heavy rain. Picture: HYDRO TASMANIA

TASMANIA is getting closer to becoming the “battery of the nation” with the foundational stage of the Government’s affordable energy plan to be launched in the state.

Registrations of Interest under the Government’s Underwriting New Generation Investments program is being unveiled at Hydro Tasmania Poatina Power Station on Thursday by federal Energy Minister Angus Taylor.

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The program follows the Australian Competition and Consumer Commission’s retail electricity pricing inquiry earlier this year, which found competition in the wholesale market is not operating as well as it could.

Under the program, the Government will develop a pipeline of projects to engage with potential proponents, with the state’s pumped Hydro considered a sufficient answer to the Federal Government’s call for reliable 24/7 power.

Minister for Energy Angus Taylor will unveil the Government’s Underwriting New Generation Investments program at Hydro Tasmania Poatina Power Station on Thursday. Picture: AAP Image/MICK TSIKAS

“Tasmania is well placed to participate in this program with its considerable pumped hydro potential,” Mr Taylor said. “This program will drive down electricity prices for householders by increasing competition and increasing supply in the market. I encourage Hydro Tasmania and other Tasmanian proponents to engage in the ROI process.”

Hydro Tasmania has identified 14 high potential pumped hydro opportunities in the state.

A system plan for development and connection of renewable energy zones by the Australian Energy Market Operator found that a second interconnector cable to the mainland would be needed to support a national energy project out of Tasmania.

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A $20 million TasNetworks feasibility study into a second interconnector found it would likely cost $1 billion.

Opposition Leader Bill Shorten has announced if Labor wins the next election, it will use the Australian Energy Market Operator as the basis for transforming the system, which could include a second Bass Strait cable.