00:01It's been a source of debate for almost a decade.
00:05What effect will the Marinus Link undersea cable have on Tasmanian power prices?
00:10A deal which is about getting electricity prices down.
00:13Downward pressure on electricity prices.
00:16What is in the best interest of Tasmania and Tasmanians in the way of power prices.
00:21Now there's a new report to add to the pile.
00:24The Australian energy regulator approving the $920 million first stage of the Northwest transmission line.
00:31But its decision raises more questions.
00:33It says the cost of building the transmission lines in the Northwest will increase residential power bills by $15 per year until 2029.
00:42After that, average bills could rise by $49 per year or 2.2%.
00:48The government will look to reduce this by using a low cost loan from the Clean Energy Finance Corporation
00:54and a $346 million grant from the Commonwealth.
00:58But the exact amount is still unknown.
01:01The $346 million grant will be applied against the Tas Network's regulated asset base.
01:06So that is a direct saving to consumers.
01:09And that's a $15 million saving year on year on year.
01:12It will go up. There's no choice about that.
01:14Once you spend millions and billions of dollars on energy infrastructure, it has to be recouped somewhere.
01:20And when it's a regulated asset, it's the consumers who pay.
01:24A report last year for Marinus Link estimated a $113 annual reduction in power bills,
01:30arguing more wind and hydro in the grid would push down prices.
01:34But a Deloitte report in 2024 said prices would go up.
01:39Under Marinus, power prices would be less and power would be cheaper.
01:45New approvals mean construction can begin in the coming months.
01:49So your customers go up.
01:50You click on this.
01:51But also it goes up to the market.
01:52Next time, you're going to see anatured process.
01:53The power is in the starting point now.
01:54You'll see anatured process.
01:55You'll see that's going to get down.
01:56In the coming months, your prices have been a great deal.
01:58You'll see the end up the market.
01:59You'll see that the market will be cheaper.
02:00So your customers will come up and do that.
02:01So with that's a lot of end up, a lot of these things under the market will be cheaper.
02:02So with the market, you're going up, I'll tell them whether you're going to get in the beginning of the market.
02:04The market will come up and down.
02:05This is where I'll hold that up and see the market and down.
02:06If you've got its potential, you'll see them in the market.
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