10 December 2024
A pre-tax profit of $193.7 million in the 2023-24 financial year will see Hydro Tasmania return a $122 million dividend, to be spent on vital infrastructure and services for Tasmanians.
“Our revenue is highly dependent on how much energy we can generate and that depends on how much it rains, so it was a tough year from that perspective,” said Hydro Tasmania CEO, Erin van Maanen. “But thanks to careful management and planning, we maintained reliable generation and healthy dam levels and ensured we delivered good returns for every drop of water.”
The National Electricity Market (NEM) is important for managing water storages and delivering the healthy dividend. “We took advantage of market conditions to import energy when prices were low or negative. We either used that energy here, to offset lower rainfall, or we sold it back for a profit when prices peaked.”
Our Education Officer, Gina Loewen, visiting students at Lansdowne Crescent Primary School.
“Over the 2023-24 financial year we also progressed proposals for major new developments at Tarraleah and Cethana, and we invested $241 million to maintain and modernise our existing fleet.”
Highlights from the 2023-24 Annual Report include:
You can find our 2024 Annual Report here!
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