Public Accounts Committee hearing

4 August 2016

Hydro Tasmania has a responsibility to protect Tasmanian taxpayers in its commercial negotiations.

That responsibility includes ensuring the State is not locked into long-term commercial arrangements, including gas contracts, which may disadvantage Tasmania.

Hydro Tasmania’s Chief Executive Officer, Steve Davy, said certain comments made at yesterday’s Public Accounts Committee (PAC) hearing were designed to serve the commercial interests of private companies.

“Hydro Tasmania’s priority in commercial negotiations is getting the best deal for Tasmanians as the owners of our business,” Mr Davy said.

“That means ensuring the state is not locked into long-term commercial arrangements, including gas contracts, which may disadvantage Tasmania.

“We’d be failing in our responsibility to Tasmanians if we simply caved in and accepted any terms offered by private businesses pursuing their own financial interests.

“There were comments made at yesterday’s PAC hearing that were simply designed to disparage Hydro Tasmania and strengthen the bargaining position of private companies. Our focus is on strengthening the interests of the Tasmanian community.

“There were also contradictory statements. It was simultaneously argued that Tasmania should have lower energy prices while at the same time increasing its reliance on gas generation. Gas fired generation is actually more expensive than Tasmania’s other energy sources,” Mr Davy said.

Ends.

Released for Hydro Tasmania by Rowan Dix, (03) 62305330 / 0409 722359 / media@hydro.com.au.

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