*Pic: Hydro’s Gordon dam
Hydro Tasmania has announced it is to cut about 100 jobs, citing the repeal of the carbon tax as a factor.
The state-owned power company attributed the cuts to the scrapping of the carbon tax, doubt over the future of the Renewable Energy Target, and a downturn in the consulting market.
In a statement, Hydro CEO Steve Davy said it would first look to reduce its workforce by natural attrition and a round of voluntary redundancies.
Hydro Tasmania has forecasted a profit of less than $20 million in the coming financial year.
This continues the trend of healthy profits in recent years, including a record pre-tax profit of $238 million for the last financial year.
But last year’s windfall became a loss of almost $250 million when massive asset writedowns and the forced acquisition of the Tamar Valley Power Station was taken into account.
And today’s statement declared that the outlook for the year ahead was challenging.
• Christine Milne: Price on pollution good for Tasmanian jobs and services
• Bryan Green: Hydro job cuts an indictment on Liberals
• Matthew Groom: Hydro Tasmania Job losses at any time are regrettable
• Earlier today on Tasmanian Times: A phyrric victory for Abbott. The good news for Tasmania
