Welcome to TasNetworks' 2024-2029 revenue reset
As a provider of electricity transmission and distribution network services in Tasmania, we are required to submit a regulatory proposal to the Australian Energy Regulator (AER) every five years, detailing our proposed plans for planning, building, operating and maintaining Tasmania's electricity network and customer network charges. At the end of this process the AER releases a final determination outlining how much revenue we can recover in the new regulatory period, which starts on 1 July 2024 and runs until to 30 June 2029.
This highly regulated process exists to protect electricity customers by placing performance standards on network service providers (NSPs) like TasNetworks, and capping revenue they can earn based on expected cost forecasts developed for each regulatory period.
The development of each regulatory proposal requires a huge amount of work from multiple teams within TasNetworks, usually spanning several years. This work includes financial forecasting, asset planning, price and tariff modelling, reviews of existing services and policies, all underpinned by a comprehensive customer and stakeholder engagement program.
Ways you can get involved
Whether you're a TasNetworks' customer, a member of one of our advisory groups, an interested member of the community, or a representative of an industry body, we're keen to understand your thoughts and perspectives, and where possible, use your insights to help shape our proposal.
We encourage you to bookmark this site, as we'll be regularly sharing information about our proposal and associated activities. Whether it be an online survey, discussion paper, FAQs, or event notices - all these items will be posted here. For those of you who are keen to get more involved, you can register here, which will allow you to receive updates, as well as submit questions and participate in any online forums or polls we host.
In the meantime, please feel free to contact us should you have any questions, and a member of our team will get back to you.
- TasNetworks R24 Engagement Team
As a provider of electricity transmission and distribution network services in Tasmania, we are required to submit a regulatory proposal to the Australian Energy Regulator (AER) every five years, detailing our proposed plans for planning, building, operating and maintaining Tasmania's electricity network and customer network charges. At the end of this process the AER releases a final determination outlining how much revenue we can recover in the new regulatory period, which starts on 1 July 2024 and runs until to 30 June 2029.
This highly regulated process exists to protect electricity customers by placing performance standards on network service providers (NSPs) like TasNetworks, and capping revenue they can earn based on expected cost forecasts developed for each regulatory period.
The development of each regulatory proposal requires a huge amount of work from multiple teams within TasNetworks, usually spanning several years. This work includes financial forecasting, asset planning, price and tariff modelling, reviews of existing services and policies, all underpinned by a comprehensive customer and stakeholder engagement program.
Ways you can get involved
Whether you're a TasNetworks' customer, a member of one of our advisory groups, an interested member of the community, or a representative of an industry body, we're keen to understand your thoughts and perspectives, and where possible, use your insights to help shape our proposal.
We encourage you to bookmark this site, as we'll be regularly sharing information about our proposal and associated activities. Whether it be an online survey, discussion paper, FAQs, or event notices - all these items will be posted here. For those of you who are keen to get more involved, you can register here, which will allow you to receive updates, as well as submit questions and participate in any online forums or polls we host.
In the meantime, please feel free to contact us should you have any questions, and a member of our team will get back to you.
- TasNetworks R24 Engagement Team
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Revised Proposal submitted and available
Share on Facebook Share on Twitter Share on Linkedin Email this linkWe are delighted to announce the submission of our Revised Proposal to the Australian Energy Regulator, detailing the funding we need to deliver safe, reliable and efficient electricity services to Tasmanians for the 2024-2029 regulatory control period for both transmission and distribution networks.
>> Download our Revised Proposal documents below <<
Supporting documents
The full submission, including models, will be available from the AER’s website in December. In the meantime the following key supporting documents are available for download:- Contingent Projects overview report
- Tariff Structure Statement
- Tariff Structure Explanatory Statement
- Transmission Pricing Methodology
- Distribution Connection Pricing Policy
The Revised Proposal has been shaped by feedback from our customers and stakeholders in the most diverse and comprehensive engagement program we've ever completed, including direct engagement with over 830 individuals on 60+ topics over a 2.5 year period.
Acknowledging that households and businesses are experiencing increasing cost of living pressures, the Revised Proposal reflects our commitment to provide Tasmanians with clean and reliable power as safely and affordably as possible. Customers also told us they want proactive investment in renewables, consistent reliability across the state, and a transparent commitment to sustainability.Balancing these preferences in a time of significant energy transition, economic uncertainty and rising cost of living pressures has been a complex yet crucial task. We've sought to achieve this by constraining our capital and operational expenditure to the lowest sustainable levels, despite increasing real costs and inflation, to offset higher costs associated with items such as cyber security and insurance.While forecast revenue and bill impacts have increased from our initial Combined Proposal of January 2023, the reasons for these increases (inflation, interest rates), are unfortunately outside our control. To reduce the effect of these bill increases on our customers, we've recommended a smoother price path in the Revised Proposal, based on direct feedback from our customer representatives and stakeholders.Distribution customer highlights
Transmission customer highlights
Next steps
The AER will now review our Revised Proposal. Their Final Determination in April 2024 will outline how much we can spend on our networks, as well as the network charges we can apply during the new regulatory control period (2024-2029). We welcome your feedback on our Revised Proposal, either directly to us or through the AER's official submission process, available on their website here.
MilestonesTiming Submissions due on Draft Decision and Revised Proposal 19 January 2024 AER issues Final Determination by 30 April 2024 New regulatory period starts 1 July 2024 To our customers and stakeholders...
We extend our sincere thanks to every customer and stakeholder who has invested their time, thoughts and expertise into the development of not only our Revised Proposal, but the preceding documents (Draft Plan and Combined Proposal). We have heard your voices and we are committed to ongoing genuine and transparent engagement with you.
How to get in touch with us
Email: revenue.reset@tasnetworks.com.au
Phone: 1300 555 727
Web: tasnetworks.com.au -
Annual Planning Report 2023 released
Share on Facebook Share on Twitter Share on Linkedin Email this linkTasNetworks formally launched the Annual Planning Report 2023 (APR) to interested stakeholders on Friday 3 November 2023.
The APR is available for download now, in both full and summary versions:
Updated annually, the APR is a living blueprint - outlining how much electricity we expect our customers to use and where, current and emerging challenges for the network for the next ten years, along with any actions we need to take to ensure we continue to provide Tasmania with safe, reliable and affordable electricity.
Materials from the forum are available here, including the presentation and summary report.
Feedback welcome
Comments, questions and enquiries are welcome regarding this important document, particularly from those interested in discussing opportunities to participate in demand management or other innovative solutions to manage network limitations. Contact us by emailing planning.enquiries@tasnetworks.com.au -
AER releases draft decision on our Combined Proposal
Share on Facebook Share on Twitter Share on Linkedin Email this linkWe are pleased to announce that we have received our draft decision from the Australian Energy Regulator (AER), detailing the funding needed to deliver safe, reliable and affordable electricity to Tasmanians for the coming 2024-2029 regulatory control period.
We welcome the AER’s draft decision to accept the proposed operating and capital expenditure forecasts contained in our Combined Proposal. The full Draft Decision is available at the AER’s website.
The development of our Combined Proposal was the culmination of several years of work by over 100 people from across our business and involved many more who worked with us to shape its development.
We are thankful for the time, energy and expertise of everyone involved in helping us reach this important milestone and are pleased to see the AER commend us for our genuine engagement program.
Our key priority in the development of our Combined Proposal has been to provide Tasmanians with clean and reliable power, as affordably as possible. While these are tough times for that mission, we’re committed to affordability more than ever.
While our customers and stakeholders remain clearly focused on affordability, proactive investment in renewables, a desire for state-wide reliability, and a transparent approach to sustainability are also key priority areas.
Developing a Proposal that balances these preferences in the current economic environment is both more complex and important than ever before and we have made significant trade-offs in our Combined Proposal to do so, while keeping costs as low as possible above all else.
Forecast revenue and price impacts have increased from the Combined Proposal due to corrections in depreciation tracking and movements in market variables such interest rates, bond rates and expected inflation. Updates for these movements are a standard part of the AER’s process.Breakdown of AER’s draft decision
Next steps
The AER did not accept the proposed contingent project triggers and have identified this as an area for TasNetworks to further engage on. TasNetworks will continue to work with the AER to refine the triggers associated with each contingent project and engage with stakeholders on the associated price impacts.
Milestone
Timing
AER hosts public forum for stakeholders
10 October 2023
Phase 6 engagement program
January – December 2023
TasNetworks submits revised Combined Proposal
30 November 2023
Submissions on draft decision and revised proposal close
19 January 2024
AER issues final determination
30 April 2024
New regulatory period starts
1 July 2024
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AER Issues Paper submissions now available
Share on Facebook Share on Twitter Share on Linkedin Email this linkStakeholder submissions on the Australian Energy Regulator's (AER) Issues Paper are now available from the AER's website.
The Issues Paper was released in late March 2023 and outlined areas of interest and concern in our Combined Proposal for the 2024-29 regulatory control period. The AER's consultation also included an online stakeholder forum in early April, and written submissions (which closed 12 May 2023).
A total of eight submissions were received from seven stakeholders, covering 15 topics:
- Aurora Energy (AE)
- AER Consumer Challenge Panel (CCP)
- ENTATAS (two submissions) (ET)
- Tasmanian Minerals, Manufacturing and Energy Council (TMEC)
- Tasmanian Renewable Energy Alliance (TREA)
- Tasmanian Small Business Council (TSBC)
- TasNetworks' Reset Advisory Commitee (RAC).
The next step in the AER's determination process will be the publication of their Draft Decision in September 2023. Follow the AER's process on their website.
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Phase 5 engagement wrap-up!
Share on Facebook Share on Twitter Share on Linkedin Email this linkPhase 5 of our engagement program ran between July and October 2022 and focused on engaging with our customers and stakeholders on our Draft Plan (the precursor to our Combined Proposal). During this phase we conducted deeper dives into the topics and issues that customers and stakeholders had highlighted in previous phases, gathering detailed feedback to help shape our Draft Plan and Combined Proposal.
- Download the full R24 Phase 5 Engagement Report here
- Download the summary R24 Phase 5 Engagement Report here
The Phase 5 report provides comprehensive detail from the ten engagement activities completed during this period, including the feedback we received. The report covers:
- Engagement methodologies
- Outcomes
- Evaluation
- Conclusions
- Activity and process summaries for individual engagement activities
- Consolidated results from evaluation surveys, completed by engagement participants.
To view the associated materials for Phase 4 engagement activities like agendas, presentations, notes and summaries, be sure to visit our Engagement Summaries page.
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AER publishes Issues Paper + public forum
Share on Facebook Share on Twitter Share on Linkedin Email this linkOn 28 March 2023, the Australian Energy Regulator (AER) published an Issues Paper on TasNetworks' Combined Proposal for the 2024-29 regulatory control period, highlighting key elements of the proposal.
The Issues Paper is available for download here on the AER's website. Key aspects include:
- The AER's initial observations about the Combined Proposal
- Consumer engagement
- Network pricing
- Key elements of the revenue proposal
- Incentive schemes and allowances.
Public consultation
As part of its consultation process on our Combined Proposal, the AER is also hosting a 1-hour joint online public forum on Tuesday, 4 April 2023 (10-11am AEST). Those interested in attending can register for the forum here.
The AER is also inviting written submissions from interested parties on any part of our 2024-29 Combined Proposal (and the AER's proposed Negotiated distribution service criteria) by 12 May 2023. More details on how to make a submission are available here on the AER's website.
Key dates
Milestone* Timing TasNetworks submits Combined Proposal 31 January 2023 AER publishes Issues Paper 28 March 2023 AER holds public forum 4 April 2023 Submissions due on Combined Proposal and Issues Paper 12 May 2023 AER issues draft decision September 2023 AER holds public forum on draft decision (predetermination conference) October 2023 TasNetworks submits revised proposal December 2023 AER publishes final determination April 2024 Submissions due on draft decision and TasNetworks' revised proposal January 2024 New regulatory period starts 1 July 2024 *Milestones are indicative only and subject to change.
How to get in touch with us
Email: revenue.reset@tasnetworks.com.au
Phone: 1300 555 727
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Phase 4 engagement wrap-up!
Share on Facebook Share on Twitter Share on Linkedin Email this linkPhase 4 of our engagement program ran between July and October 2022 and focused on engaging with our customers and stakeholders on our Draft Plan (the precursor to our Combined Proposal). During this phase we conducted deeper dives into the topics and issues that customers and stakeholders had highlighted in previous phases, gathering detailed feedback to help shape our Draft Plan and Combined Proposal.
- Download the full R24 Phase 4 Engagement Report here
- Download the summary R24 Phase 4 Engagement Report here.
The Phase 4 report provides comprehensive detail from the ten engagement activities completed during this period, including the feedback we received. The report covers:
- Engagement methodologies
- Outcomes
- Evaluation
- Conclusions
- Activity and process summaries for individual engagement activities
- Consolidated results from evaluation surveys, completed by engagement participants.
To view the associated materials for Phase 4 engagement activities like agendas, presentations, notes and summaries, be sure to visit our Engagement Summaries page.
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RAC releases independent engagement report
Share on Facebook Share on Twitter Share on Linkedin Email this linkMembers of the Reset Advisory Committee (RAC) have independently authored a report critiquing TasNetworks' engagement approach for the 2024-2029 revenue reset.
The report is available for download here, and was provided to the Australian Energy Regulator (AER) as part of TasNetworks' Combined Proposal submission on the 31 January 2023.
The report covers the following key areas:
- Education
- Affordability
- Cost versus benefits
- Culture
- Contingent projects
- The impact of the RAC.
Part of a broader suite of supporting materials accompanying TasNetworks' Combined Proposal, available here, the report was produced with assistance from the Energy Consumers Australia Consumer Empowerment Funding Program.(External link)
More details about TasNetworks' Combined Proposal and the AER's determination process can be found here, on Talk with TasNetworks.
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2024-2029 Combined Proposal submitted
Share on Facebook Share on Twitter Share on Linkedin Email this linkWe are pleased to announce the submission of our Combined Proposal and supporting documentation to the Australian Energy Regulator (AER), detailing the funding we need to deliver safe, reliable and affordable electricity to Tasmanians for the coming 2024-2029 regulatory control period.
>> Download our key Combined Proposal documents below <<
Overview
In addition to the above, the full suite of supporting documents for the Combined Proposal are available from the AER's website here.
Shaped by customer and stakeholder insights gathered during our most comprehensive and diverse engagement program to date, our Combined Proposal seeks to deliver the outcomes our customers value while also enabling Tasmania’s transition to a clean energy future.
We know that households and businesses are under increasing pressure, so we’ve focused on keeping our prices as low as possible by reducing our costs where we can. This has resulted in total forecast expenditure that's lower than our total current period allowance from the AER.
We also acknowledge that while investment needed to connect new, low-cost renewable generation and support customer-driven solar and storage will mean price increases in the short to medium-term, we know it will ultimately help deliver more reliable services and lower prices in the future.
Completed over 18 months, we spoke directly with over 570 customers and stakeholders across the state in a series of workshops, focus groups, collaborative panels, online forums, webinars and surveys, as well conducting individual discussions with major industrial customers, who use over 50% of the state’s electricity supply each year. The engagement consistently revealed the number one priority for our customers and stakeholders is affordability, followed by:
- Reliable electricity supply
- Transparent and socially responsible approaches that result in sustainable solutions
- Proactive, long-term investment in renewable energy that increases Tasmania’s capabilities and unlocks associated community benefits.
Developing a Combined Proposal that balances these preferences in the current economic environment is both more complex and important than ever before, so we’ve also included trade-offs that put downward pressure on costs without sacrificing reliability and safety or undermining the delivery of other priorities.
Proposal highlights
- Total expenditure for transmission and distribution networks lower than the allowance for the 2019-2024 period
- Targeted improvements in the reliability of parts of our distribution network
- A suite of measures to improve the resilience of our networks to the effects of climate change, including improved bushfire resilience
- A new customer service incentive scheme, including a more meaningful measure of customer service.
Next steps
We would like to thank the many customers and stakeholders who have given their time to help shape our Combined Proposal so far. The AER is now reviewing the Combined Proposal and supporting documentation, and their final decision will influence how much we spend on our networks over the next five years.
We welcome feedback on the Combined Proposal, either directly to us or through the AER's consultation process. The expected timelines for the determination process are outlined below:
Milestone* Timing TasNetworks submits Combined Proposal 31 January 2023 AER publishes Issues Paper 28 March 2023 AER holds public forum 4 April 2023 Submissions due on Combined Proposal and Issues Paper 12 May 2023 AER issues draft decision September 2023 AER holds public forum on draft decision (predetermination conference) October 2023 TasNetworks submits revised proposal December 2023 AER publishes final determination April 2024 Submissions due on draft decision and TasNetworks' revised proposal January 2024 New regulatory period starts 1 July 2024 *Milestones are indicative only and subject to change.
How to get in touch with us
Email: revenue.reset@tasnetworks.com.au
Phone: 1300 555 727
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2022 Annual Planning Report now available
Share on Facebook Share on Twitter Share on Linkedin Email this linkWe are pleased to announce the launch of our 2022 Annual Planning Report (APR), detailing our plans for Tasmania's transmission and distribution electricity networks for the coming decade.
The document is now available for download in both full and summary versions:
Updated annually, the APR is our living blueprint - outlining how much electricity we expect our customers to use and where, current and emerging challenges for the network for the next ten years, along with any actions we need to take to ensure we continue to provide Tasmania with safe, reliable and affordable electricity.
The Report was formally launched on Friday 4 November to interested stakeholders in a 90-minute session that covered:
- Tasmania’s network developments
- Demand, supply and forecast scenarios
- Marinus Link and North West Developments
- TRET and renewable energy zones
- Network security performance
- System strength
- Network asset retirement and replacement
- Network service performance
- TasNetworks' Future Distribution System (FDS).
Materials from the forum are available here, including a recording of the full 90-minute session.
Feedback welcomed
Comments, questions and enquiries are welcome regarding this important document, particularly from those interested in discussing opportunities to participate in demand management or other innovative solutions to manage network limitations. Contact us by emailing planning.enquiries@tasnetworks.com.au
Follow Project
Engagements + materials
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28 November 2023
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22 November 2023
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03 November 2023
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10 October 2023
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23 August 2023
Important reading
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2024-2029 Combined Proposal
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2024-2029 Draft Plan
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Engagement Reports
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TasNetworks | R24 Engagement Report | Phase 1 (27 May 2022)
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TasNetworks | R24 Engagement Report | Phase 2 (27 May 2022)
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TasNetworks | R24 Engagement report | Phase 3 (17 Jan 2023) (7.96 MB) (pdf)
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TasNetworks | R24 engagement report | Phase 3 summary (30 Aug 2022) (83.2 KB) (pdf)
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TasNetworks | R24 Engagement Report Phase 4 (March 2023) (5.19 MB) (pdf)
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TasNetworks | R24 Engagement Report Phase 4 summary (March 2023).pdf (82.2 KB) (pdf)
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TasNetworks | R24 Engagement Report phase 5 (28 March 2023)
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TasNetworks | R24 Engagement Report phase 5 summary (28March 2023)
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Engagement Strategy
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Annual Planning Reports
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TasNetworks | Annual Planning Report 2023_Full (Nov '23)
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TasNetworks | Annual Planning Report 2023_Summary (Nov '23)
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TasNetworks | Annual Planning Report 2022_Full (Nov 2022) (6.08 MB) (pdf)
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TasNetworks | Annual Planning Report 2022_Summary (Nov2022) (1.26 MB) (pdf)
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TasNetworks | Annual Planning Report 2021_Full (Nov 2021)
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Annual Reports
R24 project timeline
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Engagement Phase 1 (Nov '20 - Sep '22)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageFocus: Research and planning
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Engagement Phase 2 (Oct - Dec '21)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageFocus: Capability building
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Public consultation (Nov '21)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageTasNetworks' Draft Customer and Stakeholder Engagement Strategy
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Strategy published (Jan '22)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageTasNetworks' Customer and Stakeholder Engagement Strategy
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Engagement Phase 3 (Jan - Jul '22)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageFocus: Deep dives into key topics
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AER publishes draft Framework (Mar '22)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageTasNetworks' preliminary Framework and Approach
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AER publishes final Framework (Jul '22)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageTasNetworks' final Framework and Approach
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Public consultation (Jul '22)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageTasNetworks' 2024-29 Draft Plan
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Engagement Phase 4 (Jul-Oct '22)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageFocus: Reporting back
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Engagement Phase 5 (Nov '22 - Jan '23)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageFocus: Closing the loop
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TasNetworks regulatory submission (Jan '23)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stageCombined Proposal to the AER
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AER Issues paper published (April 2023)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stage -
AER Draft Decision published (Sept '23)
Welcome to TasNetworks' 2024-2029 revenue reset has finished this stage -
Engagement Phase 6 (Jan-Nov '23)
Welcome to TasNetworks' 2024-2029 revenue reset is currently at this stage -
TasNetworks regulatory submission (Nov '23)
this is an upcoming stage for Welcome to TasNetworks' 2024-2029 revenue resetRevised Combined Proposal to the AER
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AER public consultation (Dec '23 - Jan '24)
this is an upcoming stage for Welcome to TasNetworks' 2024-2029 revenue reset -
AER publishes Final Decision (Apr '24)
this is an upcoming stage for Welcome to TasNetworks' 2024-2029 revenue resetTasNetworks' 2024-29 Revised Proposal
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New regulatory period starts (01 July 2024)
this is an upcoming stage for Welcome to TasNetworks' 2024-2029 revenue reset