2024-2029 Combined Proposal submitted

We 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

Snapshot

Attachments

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:

1. Reliable electricity supply
2. Transparent and socially responsible approaches that result in sustainable solutions
3. 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:

*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

Web: tasnetworks.com.au