Legislative Council GBE A
UNCORRECTED PROOF ISSUE Thursday 7 December 2017 - Legislative Council - Government Businesses Scrutiny Committee A - Tasmanian Networks Pty Ltd LEGISLATIVE COUNCIL GOVERNMENT BUSINESSES SCRUTINY COMMITTEE A Thursday 7 December 2017 MEMBERS Mr Armstrong Mr Farrell Ms Forrest Mr Gaffney Mr Hall (Chair) Ms Lovell IN ATTENDANCE Hon. Guy Barnett, Minister for Energy Ministerial Office Mr Michael Connarty, Senior Adviser Tasmanian Networks Pty Ltd Dr Dan Norton, Chairman Mr Lance Balcombe, Chief Executive Officer Ms Bess Clark, General Manager Strategy and Stakeholder Relations Mr Ross Burridge, General Manager Finance & Business Services Mr Wayne Tucker, General Manager Strategic Asset Management The committee resumed at 11.43 a.m. CHAIR - Thank you, minister, in your other Energy portfolio hat. Mr BARNETT - Thank you very much, Chair, and thanks members of the committee for this opportunity. CHAIR - I invite you to make a short opening statement in regard to TasNetworks. Thursday 7 December 2017 1 Tasmanian Networks Pty Ltd UNCORRECTED PROOF ISSUE Mr BARNETT - Thank you, Chair. A very brief opening statement from me. TasNetworks reported a profit of $93.9 million, marginally above budget by $1.2 million. It has meant total returns to Government of $176.2 million. The main point to note is the work of TasNetworks, consistent with our Tasmania First energy policy, to provide the lowest possible power prices with the target to have the lowest power prices in Australia by 2022. I will also note TasNetworks' work to achieve security of supply, consistent with our Tasmania First energy policy. I note their strong engagement with ARENA and the announcement a couple of weeks ago between ARENA and TasNetworks of $10 million from federal and state governments to support the further business work and business plan with respect to the second interconnector.
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