Media release – Hydro Tasmania, 4 February 2025
Hydro Tasmania locks in 10-year power deal with Liberty Bell Bay
Hydro Tasmania today (Tuesday) confirmed it had reached a commercial agreement with Liberty Bell Bay to continue to supply electricity for its ferroalloy smelter at George Town over the next decade.
While details of the agreement are commercial-in-confidence, Hydro Tasmania Acting CEO Erin van Maanen said the deal was a positive outcome for both Liberty Bell Bay and for Tasmanians.
“The ferroalloy smelter has been a significant employer in the state since it commenced operations in 1962 and we’re happy to power Liberty Bell Bay’s ongoing operations,” Ms van Maanen said.
“At the same time, as a government business, Hydro Tasmania’s profits are shared with Tasmanians via dividends, so it’s incumbent upon us to strike the best possible commercial deal on their behalf.
“We are very pleased to have reached a mutually beneficial outcome enabling us to continue our long-running relationship with the smelter.”
“As the only ferroalloy smelter in Australia, Liberty Bell Bay plays an important role in the nation’s steel industry,” Liberty Bell Bay Executive General Manager Paul Venter said.
“We are pleased to continue our long-standing relationship with Hydro Tasmania as part of our ongoing commitment to the Tasmanian community.”
Hydro Tasmania has historically negotiated direct contracts for wholesale energy hedges with Tasmania’s four major industrials, which account for 60 per cent of the state’s energy consumption.
All other commercial and residential-related energy contracting is managed directly with energy retailers in Tasmania.
Media release – Nick Duigan, Minister for Energy and Renewables, 4 February 2025
Decade deal for Hydro and Liberty welcomed
The Tasmanian Government welcomes Hydro and Liberty Bell Bay signing a long-term deal.
Minister for Energy and Renewables, Nick Duigan, said the new agreement secures the future of one the state’s major industrials for the next 10 years.
“It is pleasing to see the long-standing relationship with between Liberty and Hydro Tasmania continuing with this agreement providing energy security to Liberty for the next decade,” Minister Duigan said.
“Our major industrials, like Liberty Bell Bay, are significant employers and contributors to our state’s economy and this agreement ensures they have the confidence they need to continue to invest in Tasmania, benefiting our economy for years to come.
“Having reliable and renewable energy in Tasmania is critical to the success of our industrial base and positions our economy for further growth.”
Ben Marshall
February 5, 2025 at 12:18
So — 60% of Tasmanian electricity is sold off to four for-profit companies under deals favourable, to them, that we, the owners of that electricity, aren’t allowed to see.
In this case, neither TasHydro, nor their ‘shareholders’ the Minister and the Treasurer, nor other politicians or media, care that these deals aren’t ‘commercial in confidence’ to protect the two entities from some kind of ‘threat’, but rather to prevent us, the people, from being able to see what’s going on, and therefore question the deal and hold them to account.
It’s critical to realise that the actual resource we’re talking about isn’t energy stored in dams or travelling through high voltage transmission lines to the lucky Four. Politicians are using government owned businesses and State owned companies as ATMs.
Ultimately the real resource comes from we taxpayers as subsidies and deals that forgo our interests in favour of corporate shareholder value. As always in Tasmania, the Game of Mates is all about socialising costs and privatising profits.
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Oligarchy:
https://en.wikipedia.org/wiki/Oligarchy
Putative oligarchies:
Business groups may be considered oligarchies if they meet the following criteria:
* They are the largest private owners in the country.
* They possess sufficient political power to influence their own interests.
* The owners control multiple businesses, coordinating activities across sectors.
– www