• Hydro report warns energy assets won’t be maintained
• Liberals have consistently put dividends ahead of energy security
• Government must release report in full
• Were the Minister and Treasurer aware of the report when they demanded higher dividends?

The Liberal Government must immediately release an explosive Hydro Tasmania report in full so Tasmanians have a clear understanding of the risks to energy security.

Deputy Labor Leader Michelle O’Byrne said today’s special report by the Mercury newspaper is alarming.

“Why has this document been covered up until now?,” Ms O’Byrne said.

“The information coming out of Hydro Tasmania is extremely alarming.

“Via a leaked internal report we learn that energy generating infrastructure is under extreme pressure.

“30 per cent of Hydro’s generating assets will be virtually abandoned under the current scenario.

“While the Government is hell bent on pursuing massive dividends, Hydro’s internal advice is that it could only maintain 70 per cent of its generation assets.

“It took Minister Matthew Groom just two years to destroy Tasmania’s energy security reputation.

“Now he’s presiding over a potentially devastating long-term scenario.

“The path this government has forced Hydro to go down was reckless and driven by greed.

“By demanding a $75 million dividend, the Minister and Treasurer forced Hydro into decommissioning the Tamar Valley Power Station.

“Now appears that the situation is far worse, with the push for profits compromising the rest of our generation assets.
“This report raises serious questions that must be answered.

“Was the Minister and the Treasurer aware of this report when they set expectations for higher dividends?

“Why has Hydro not provided this report to the Public Accounts Committee as part of the energy crisis inquiry?

“Has Hydro deferred maintenance spending in order to deliver dividends?

“What level of investment is required to ensure we maintain 100 per cent of our generation assets?

“What is the point of having more water in storage, and even a second Bass Strait interconnector, if you can’t generate power from those assets?

“Has the capital works budget increased in response to the energy crisis and by how much?

“Will the Government now abandon its unsustainable 90 per cent dividend policy and prioritise maintenance?

“This is a huge issue in terms of Tasmania’s future and the government must provide answers.”
Michelle O’Byrne MP Deputy Labor Leader