A Shorten Labor Government will fast-track the development of a business case for a second Bass Strait interconnector, delivering greater energy security and more job opportunities for Tasmanians.
Tasmania has some of the best renewable resources in the world, and already produces 17 per cent of Australia’s renewable energy output.
However, Tasmania’s own energy supply is not as secure as it should be, and there are limited opportunities to grow the sector.
The energy crisis that Tasmanians experienced this year – with the shutdown of the single interconnector – should not be allowed to happen again.
A second cable will protect the energy security of Tasmanian businesses and households, as well as opening up new economic opportunities.
A second link across the Bass Strait will expand Tasmania’s access to the National Electricity Market. This will boost the capacity of Tasmania’s renewable energy generators to boost supply and local jobs.
If elected, Labor will work with the Tasmanian Government to develop a business case for the second interconnector for urgent consideration by Infrastructure Australia.
Labor will provide $5 million for the development of the business case, which will build on the existing feasibility study.
Subject to a positive business case and an assessment by Infrastructure Australia, up to $500 million will be made available through our Infrastructure Financing Facility for the construction of the second cable. The project will be funded and delivered in partnership with the Tasmanian Government and the private sector.
Exporting Tasmania’s renewable energy to the rest of Australia is the key to new investment in Tasmania and new jobs for Tasmanians.
Labor believes Tasmania can become the renewable energy powerhouse of Australia – and we have a plan to make it happen.
A second Bass Strait interconnector is one part of Labor’s energy plan for Tasmania.
Labor has a comprehensive plan to boost investment and jobs in renewable energy, including:
- Ensuring that at least 50 per cent of the nation’s electricity is sourced from renewable energy by 2030.
- Expanding the investment mandate of the Clean Energy Finance Corporation.
- Ensuring the Commonwealth Government leads by example as a direct purchaser of renewable energy.
Labor’s energy plan is good for Tasmania’s energy security, good for Tasmanian businesses and good for Tasmanian jobs.