Aurora Energy has recorded a strong financial result while also better supporting vulnerable power users according to its Annual Report.
The state owned energy finished the year $31.5 million in the black and delivered $34 million in returns to Tasmanian taxpayers.
In fact, Aurora achieved a profit before tax that was four times better than their budget. This was achieved by operating more efficiently including substantially reducing operating costs by more than $9m above budget.
Aurora’s dividend means we are better able to invest in essential services, so Tasmanians can have the services they need and deserve.
Aurora worked hard to deliver this result and should be commended for its commitment to a low cost operating model that strengthened its financial performance and return to Tasmanians.
Importantly, Aurora also ensured that Tasmania’s most vulnerable power users were a priority.
Aurora, in partnership with the State Government, implemented the energy affordability program Your Energy Support (YES) program to assist vulnerable households.
The Annual Report shows that through this program Aurora was able to assist more than 1,600 Tasmanians experiencing financial difficulties to better make ends meet.
Together we are reinvesting $2 million over the next two years to extend the reach of the program and help ever more Tasmanians.
As a Government we are committed to delivering lower power prices for Tasmanians. Since being elected, we have seen significant downward pressure on power bills and ended spiralling electricity prices which were the hallmark of Labor and the Greens. Power prices are more than five per cent lower today than when the Hodgman Liberal Government first came into office.
Over the next year, we will continue to ensure that Aurora maintains its focus on prudent cost management as well as its’ commitment to supporting vulnerable Tasmanians.
Matthew Groom, Minister for Energy
