Hydro Tasmania’s response to the 2015-16 energy supply challenge protected Tasmania’s energy security while avoiding higher costs for Tasmanians in the future.

The Chairman, Grant Every-Burns, said the energy supply challenge was caused by an unprecedented combination of events.

“The record dry spring was regarded as a 1/300 year event and the first undersea cable fault in 10 years. Prior to their occurrence, they would have been considered at least a 1/3000 year combined event,” Mr Every-Burns said.

“Before and during that extremely rare situation, Hydro Tasmania acted exactly as it should. We managed our water storages cautiously and prudently while running our business as efficiently as possible, to maximise returns to Tasmanians.

“Our people responded with outstanding skill to protect Tasmania’s energy security without locking in higher costs for the future.

“I caution against a costly over-reaction to the extremely rare events of 2015-16,” he said.

Pending advice to the Tasmanian Government from the Energy Security Taskforce, the company is building storages to about 40 per cent during spring, and will seek to maintain that level into January 2017.

Hydro Tasmania storages have recovered strongly since May. At the start of this week, total energy in storage was 38.1 per cent. If required, gas generation and Basslink imports will be used to help maintain storages.

Ends.

Released for Hydro Tasmania by Rowan Dix, (03) 62305330 / 0409 722359 / media@hydro.com.au