As Australia’s largest generator of renewable energy, we are one of the lowest emitters in the energy sector in Australia.
Launched in July 2023 and updated in September 2024, our Toward Net Zero Action Plan 2024 Update is an evolving voluntary initiative that involves a raft of activities to measure, reduce and offset emissions across Hydro Tasmania, Momentum Energy (our Victorian-based energy retailer) and Entura (our consulting business).
We’ve made some important strides, including for example electrifying more of our vehicle fleet and adding solar to the hybrid energy system on King Island. We're now matching our electricity consumption (scope 2 emissions) with International Renewable Energy Certificates produced from Tasmanian hydropower generation. We are also in the process of quantifying our scope 3 emissions, which will be independently audited ahead of publication. Our Victorian-based energy retailer, Momentum Energy, is partnering with ‘Goodbye Gas’ to support customers to electrify their homes and reduce their carbon footprint.
Our Toward Net Zero Action Plan 2024 Update recognises some key challenges we face including, for example, emissions from the Tamar Valley Power Station and the lack of agreed quantification methodology for scope 1 lake emissions. We will continue to review our approach to managing our climate impact based on emerging global research, evolving perspectives, and shareholder expectations. You can read more about some of our actions and progress below.
β First electric vehicles purchased β King Island solar farm commissioned β Begin process to quantify scope 3 emissions β Ongoing research program to measure emissions from specific lakes β Offset strategy developed β Momentum Energy customer insights and tools
β Energy efficiency initiatives in buildings and facilities β Offset tender finalised β New energy efficiency products and services for Momentum Energy customers β Field work conducted as part of reservoir emissions research and participation in global research on methane emissions with ‘Bluemethane’ β Commenced King Island infrastructure refresh including refurbishing wind turbines and upgrading battery
β More electric vehicles and charging stations β ‘Goodbye Gas’ electrification and gas transition plan developed for Momentum Energy customers β Implemented a program to purchase Australian Carbon Credit Units as a means of offsetting our reportable scope 1 emissions on a monthly basis from 1 June 2025. This program doesn't cover emissions from the lakes and reservoirs we manage (which we are working to quantify and which may become reportable in future) or future emissions from the combined-cycle gas turbine at the Tamar Valley Power Station (which would be operated, for example, if hydro resources are limited or the Basslink interconnector is offline) β Matching from 1 June 2025 our electricity consumption (scope 2 emissions) with International Renewable Energy Certificates produced from Tasmanian hydropower generation β Joined the International Hydropower Association Reservoir Emissions Working Group β Submitted for publication a scientific research paper on bubbling releases of methane from Australian reservoirs
From 2016 to 2019, Tasmania experienced unusually low rainfall and a prolonged outage of the Basslink interconnector, which normally facilitates electricity exchange between Tasmania and mainland Australia. These conditions led to increased reliance on the Tamar Valley Power Station, resulting in higher emissions during that period. By 2020, hydro storages had recovered and new wind farms were commissioned, enabling Tasmania to achieve 100% net self-sufficiency in renewable electricity. A modest rise in emissions occurred in 2023 following a comprehensive audit that identified an additional emissions source. Emissions rose again in 2024 due to the increased use of Tamar Valley Power Station during another dry year.
Tamar Valley Power Station comprises both a combined-cycle gas turbine (CCGT) and open-cycle gas turbines (OCGTs). The CCGT is inflexible, operating less efficiently relative to the OGCTs and is switched on only when absolutely necessary to support storages or manage energy supply, for example, if hydroelectric resources are significantly constrained or Basslink is offline. Our program to purchase Australian Carbon Credit Units offsetting reportable scope 1 emissions from 1 June 2025 is intended to cover normal operational emissions including from operation of the OCGTs and so would not cover emissions arising from the possible operation of CCGT in those circumstances.
A lot has changed since we started on this journey, particularly in understanding how the energy transition in Australia is unfolding. We don’t yet have all the answers and we recognise that a lot may change on the way, not just within our businesses but within the broader energy market.
We aim to accelerate the renewable energy transition and create renewable energy for future generations.
Hydro Tasmania has quantified its FY24 scope 3 emissions for its most material scope 3 sources. There is more work to do to complete Entura’s scope 3 inventory measurements and reporting.
Our Action Plan 2024 Update contains further details about our journey. We will keep an eye on the changing market conditions and adjust our Action Plan 2024 Update as needed along the way.
We commit to:
tracking and reporting our greenhouse emissions and disclosing offsets used; and
communicating on our progress, challenges and solutions.
Read our Action Plan 2024 Update here