TasNetworks has confirmed Project Marinus’ economic viability, with the project set to place downward pressure on wholesale electricity prices.
TasNetworks’ Project Assessment Conclusions Report and Wholesale Pricing Report (PACR) includes detailed independent analysis that demonstrates the national benefit of this $3.5 billion project would provide through access to Tasmania’s clean, low cost and reliable renewable energy.
These reports provide further confirmation of the nation-wide benefits delivered by Project Marinus, further highlighting the need for change to the current interconnector pricing rules.
Project Marinus and the clean energy it unlocks will be a significant contributor to Australia’s emissions reduction ambitions, leading to savings of up to 70 million tonnes of CO2 equivalent. Project Marinus will deliver downward pressure on electricity prices in Tasmania and across the national electricity market.
In addition to supporting reliable and secure supply, and price savings right across the national electricity market, Project Marinus will deliver 2,800 direct and indirect jobs in both Tasmania and Victoria, attract billions of dollars in regional investment and unlocking a pipeline of future investment in renewable energy developments.
Due for earliest commissioning in 2027 for the first 750MW stage, and 2029 for the second 750MW stage, Project Marinus will also help cut emissions, directly supporting the Tasmanian Government’s commitment to achieve 200 per cent renewable generation by 2040.
The Tasmanian Government has welcomed the reports, which show the positive impacts that Project Marinus will have for both Tasmanians and all those connected to the National Electricity Market.
