Latest news with #MarinusLink
The Advertiser
12 hours ago
- Business
- The Advertiser
Urgent advice on eve of major energy project deadline
Tasmania's caretaker government is seeking urgent advice about whether it can green light one of the nation's biggest energy projects, which has been caught up in a political stoush. The proposed Marinus Link cable would increase power transmission between Victoria and Tasmania, with the aim of boosting renewable energy investment in the island state. Backed by the Victorian and federal governments, the $5 billion project is waiting for Tasmania, which holds the smallest share, to sign an investment deal by a Saturday deadline. The state's Liberal government is in caretaker mode after a July 19 election, which resulted in a hung parliament and hasn't yet delivered final results. Liberal Premier Jeremy Rockliff wants to sign the contract but claims he needs Labor leader Dean Winter's support to do so, because of caretaker provisions. Labor supports Marinus Link, but Mr Winter said he was unable to back the deal by Mr Rockliff's "bullying" 9am Thursday deadline. Mr Winter, as well as the Greens and independents both major parties are trying to woo to form government, have lashed the Liberals for last-minute briefings on the project. Mr Rockliff told reporters on Thursday he had sought formal advice on whether he could sign the final investment deal without Mr Winter's support. Constitutional experts, as well as Mr Winter, believe Mr Rockliff can sign the deal without Labor. "We are on the verge of an announcement for Marinus Link," Mr Rockliff said. "We are in a position to support Tasmania through Marinus Link and its enormous social and economic benefits." Energy Minister Nick Duigan said if the contract wasn't signed by Saturday, Marinus Link could lose its place in highly competitive production lines and be delayed by five years. Mr Rockliff has been criticised for not releasing the whole-of-state business case for the project after earlier promising to do so 30 days before the signing of the contract. He claims it will be public "as soon as possible" and hasn't yet been released because of confidential negotiations. The project will create 2000 jobs, keep power prices lower and increase dividends of government-owned energy provider Hydro Tasmania by $400 million per year, Mr Rockliff said. The state's equity contribution would be no more than $103.5 million, he added. Mr Winter, who was part of briefings provided to Labor, the Greens and independents on Tuesday, accused Mr Rockliff of playing political games and keeping the business case secret. He said there had been no real consultation and no chance to consider more than 1000 pages of documents. Mr Rockliff accepted there was a lot of information because "this has been over eight years in the making". The first stage of the project, one of two 750-megawatt transmission lines, is expected to be completed in 2030. Tasmania's caretaker government is seeking urgent advice about whether it can green light one of the nation's biggest energy projects, which has been caught up in a political stoush. The proposed Marinus Link cable would increase power transmission between Victoria and Tasmania, with the aim of boosting renewable energy investment in the island state. Backed by the Victorian and federal governments, the $5 billion project is waiting for Tasmania, which holds the smallest share, to sign an investment deal by a Saturday deadline. The state's Liberal government is in caretaker mode after a July 19 election, which resulted in a hung parliament and hasn't yet delivered final results. Liberal Premier Jeremy Rockliff wants to sign the contract but claims he needs Labor leader Dean Winter's support to do so, because of caretaker provisions. Labor supports Marinus Link, but Mr Winter said he was unable to back the deal by Mr Rockliff's "bullying" 9am Thursday deadline. Mr Winter, as well as the Greens and independents both major parties are trying to woo to form government, have lashed the Liberals for last-minute briefings on the project. Mr Rockliff told reporters on Thursday he had sought formal advice on whether he could sign the final investment deal without Mr Winter's support. Constitutional experts, as well as Mr Winter, believe Mr Rockliff can sign the deal without Labor. "We are on the verge of an announcement for Marinus Link," Mr Rockliff said. "We are in a position to support Tasmania through Marinus Link and its enormous social and economic benefits." Energy Minister Nick Duigan said if the contract wasn't signed by Saturday, Marinus Link could lose its place in highly competitive production lines and be delayed by five years. Mr Rockliff has been criticised for not releasing the whole-of-state business case for the project after earlier promising to do so 30 days before the signing of the contract. He claims it will be public "as soon as possible" and hasn't yet been released because of confidential negotiations. The project will create 2000 jobs, keep power prices lower and increase dividends of government-owned energy provider Hydro Tasmania by $400 million per year, Mr Rockliff said. The state's equity contribution would be no more than $103.5 million, he added. Mr Winter, who was part of briefings provided to Labor, the Greens and independents on Tuesday, accused Mr Rockliff of playing political games and keeping the business case secret. He said there had been no real consultation and no chance to consider more than 1000 pages of documents. Mr Rockliff accepted there was a lot of information because "this has been over eight years in the making". The first stage of the project, one of two 750-megawatt transmission lines, is expected to be completed in 2030. Tasmania's caretaker government is seeking urgent advice about whether it can green light one of the nation's biggest energy projects, which has been caught up in a political stoush. The proposed Marinus Link cable would increase power transmission between Victoria and Tasmania, with the aim of boosting renewable energy investment in the island state. Backed by the Victorian and federal governments, the $5 billion project is waiting for Tasmania, which holds the smallest share, to sign an investment deal by a Saturday deadline. The state's Liberal government is in caretaker mode after a July 19 election, which resulted in a hung parliament and hasn't yet delivered final results. Liberal Premier Jeremy Rockliff wants to sign the contract but claims he needs Labor leader Dean Winter's support to do so, because of caretaker provisions. Labor supports Marinus Link, but Mr Winter said he was unable to back the deal by Mr Rockliff's "bullying" 9am Thursday deadline. Mr Winter, as well as the Greens and independents both major parties are trying to woo to form government, have lashed the Liberals for last-minute briefings on the project. Mr Rockliff told reporters on Thursday he had sought formal advice on whether he could sign the final investment deal without Mr Winter's support. Constitutional experts, as well as Mr Winter, believe Mr Rockliff can sign the deal without Labor. "We are on the verge of an announcement for Marinus Link," Mr Rockliff said. "We are in a position to support Tasmania through Marinus Link and its enormous social and economic benefits." Energy Minister Nick Duigan said if the contract wasn't signed by Saturday, Marinus Link could lose its place in highly competitive production lines and be delayed by five years. Mr Rockliff has been criticised for not releasing the whole-of-state business case for the project after earlier promising to do so 30 days before the signing of the contract. He claims it will be public "as soon as possible" and hasn't yet been released because of confidential negotiations. The project will create 2000 jobs, keep power prices lower and increase dividends of government-owned energy provider Hydro Tasmania by $400 million per year, Mr Rockliff said. The state's equity contribution would be no more than $103.5 million, he added. Mr Winter, who was part of briefings provided to Labor, the Greens and independents on Tuesday, accused Mr Rockliff of playing political games and keeping the business case secret. He said there had been no real consultation and no chance to consider more than 1000 pages of documents. Mr Rockliff accepted there was a lot of information because "this has been over eight years in the making". The first stage of the project, one of two 750-megawatt transmission lines, is expected to be completed in 2030. Tasmania's caretaker government is seeking urgent advice about whether it can green light one of the nation's biggest energy projects, which has been caught up in a political stoush. The proposed Marinus Link cable would increase power transmission between Victoria and Tasmania, with the aim of boosting renewable energy investment in the island state. Backed by the Victorian and federal governments, the $5 billion project is waiting for Tasmania, which holds the smallest share, to sign an investment deal by a Saturday deadline. The state's Liberal government is in caretaker mode after a July 19 election, which resulted in a hung parliament and hasn't yet delivered final results. Liberal Premier Jeremy Rockliff wants to sign the contract but claims he needs Labor leader Dean Winter's support to do so, because of caretaker provisions. Labor supports Marinus Link, but Mr Winter said he was unable to back the deal by Mr Rockliff's "bullying" 9am Thursday deadline. Mr Winter, as well as the Greens and independents both major parties are trying to woo to form government, have lashed the Liberals for last-minute briefings on the project. Mr Rockliff told reporters on Thursday he had sought formal advice on whether he could sign the final investment deal without Mr Winter's support. Constitutional experts, as well as Mr Winter, believe Mr Rockliff can sign the deal without Labor. "We are on the verge of an announcement for Marinus Link," Mr Rockliff said. "We are in a position to support Tasmania through Marinus Link and its enormous social and economic benefits." Energy Minister Nick Duigan said if the contract wasn't signed by Saturday, Marinus Link could lose its place in highly competitive production lines and be delayed by five years. Mr Rockliff has been criticised for not releasing the whole-of-state business case for the project after earlier promising to do so 30 days before the signing of the contract. He claims it will be public "as soon as possible" and hasn't yet been released because of confidential negotiations. The project will create 2000 jobs, keep power prices lower and increase dividends of government-owned energy provider Hydro Tasmania by $400 million per year, Mr Rockliff said. The state's equity contribution would be no more than $103.5 million, he added. Mr Winter, who was part of briefings provided to Labor, the Greens and independents on Tuesday, accused Mr Rockliff of playing political games and keeping the business case secret. He said there had been no real consultation and no chance to consider more than 1000 pages of documents. Mr Rockliff accepted there was a lot of information because "this has been over eight years in the making". The first stage of the project, one of two 750-megawatt transmission lines, is expected to be completed in 2030.
Perth Now
12 hours ago
- Business
- Perth Now
Urgent advice on eve of major energy project deadline
Tasmania's caretaker government is seeking urgent advice about whether it can green light one of the nation's biggest energy projects, which has been caught up in a political stoush. The proposed Marinus Link cable would increase power transmission between Victoria and Tasmania, with the aim of boosting renewable energy investment in the island state. Backed by the Victorian and federal governments, the $5 billion project is waiting for Tasmania, which holds the smallest share, to sign an investment deal by a Saturday deadline. The state's Liberal government is in caretaker mode after a July 19 election, which resulted in a hung parliament and hasn't yet delivered final results. Liberal Premier Jeremy Rockliff wants to sign the contract but claims he needs Labor leader Dean Winter's support to do so, because of caretaker provisions. Labor supports Marinus Link, but Mr Winter said he was unable to back the deal by Mr Rockliff's "bullying" 9am Thursday deadline. Mr Winter, as well as the Greens and independents both major parties are trying to woo to form government, have lashed the Liberals for last-minute briefings on the project. Mr Rockliff told reporters on Thursday he had sought formal advice on whether he could sign the final investment deal without Mr Winter's support. Constitutional experts, as well as Mr Winter, believe Mr Rockliff can sign the deal without Labor. "We are on the verge of an announcement for Marinus Link," Mr Rockliff said. "We are in a position to support Tasmania through Marinus Link and its enormous social and economic benefits." Energy Minister Nick Duigan said if the contract wasn't signed by Saturday, Marinus Link could lose its place in highly competitive production lines and be delayed by five years. Mr Rockliff has been criticised for not releasing the whole-of-state business case for the project after earlier promising to do so 30 days before the signing of the contract. He claims it will be public "as soon as possible" and hasn't yet been released because of confidential negotiations. The project will create 2000 jobs, keep power prices lower and increase dividends of government-owned energy provider Hydro Tasmania by $400 million per year, Mr Rockliff said. The state's equity contribution would be no more than $103.5 million, he added. Mr Winter, who was part of briefings provided to Labor, the Greens and independents on Tuesday, accused Mr Rockliff of playing political games and keeping the business case secret. He said there had been no real consultation and no chance to consider more than 1000 pages of documents. Mr Rockliff accepted there was a lot of information because "this has been over eight years in the making". The first stage of the project, one of two 750-megawatt transmission lines, is expected to be completed in 2030.
ABC News
16 hours ago
- Business
- ABC News
Jeremy Rockliff's Marinus stand-off with Labor unresolved but approval looks certain
Premier Jeremy Rockliff's self-imposed 9am deadline on Tasmanian Labor to give its support to the final Marinus Link investment decision has passed, without Labor signing on. Mr Rockliff issued the ultimatum by way of a letter to Labor leader Dean Winter on Wednesday — giving him fewer than 24 hours to make a decision, arguing it was required under caretaker conventions. It followed confidential briefings on Tuesday when Labor and crossbenchers were first presented with thousands of pages of detailed documentation, including modelling and legal advice. Marinus Link is a second underwater electricity cable and transmission line proposal designed to give the mainland greater reciprocal access to Tasmania's renewable energy resources. They were told the government intended to proceed with a "positive" final investment decision, with the commonwealth setting a deadline of August 2. Crossbenchers described the process as a "sham", a "document dump" and lacking "respect". Labor energy spokesperson Janie Finlay told ABC Radio Hobart the party had "absolutely not" met the premier's deadline. "We're not required to, either," she said. "They will take a cabinet decision. They have decided that they are going to proceed with this. They've got until August 2. "The commonwealth and Victorian governments have been so patient, like so many people in Tasmania, always having to be so patient for this government. They will sign up to the deal, I'm sure." The government received a whole-of-state business case in May, and promised to release it 30 days before making a final investment decision, originally due on July 31. Former energy minister Guy Barnett made this promise in a ministerial statement in September 2023, it was reiterated by current Energy Minister Nick Duigan in April during a parliament committee hearing, and again in a May press release. The business case is yet to be publicly released. Speaking last week, Mr Rockliff said it was his "expectation" it would be released before the investment decision was made, but the election had changed his plans. "If we weren't forced to an election, there would be a greater public discussion about this," he said. A deadline of August 31 was set for ordering the undersea cable, due to global demand for this type of infrastructure. In setting the 9am Thursday deadline, Mr Rockliff's letter sought Mr Winter's agreement "to proceed to make a positive Tasmanian Marinus FID [final investment decision]". "Your support as Opposition Leader for a positive Marinus FID will demonstrate a bipartisan commitment, together with the Australian and Victorian Governments, for the benefit of Tasmania for generations to come," it reads. The Tasmanian government has been in negotiations with the commonwealth over the final details of Marinus. Mr Duigan said a section in the caretaker conventions "is clear" and Labor's support was needed for Marinus to proceed. The section states that the outcomes of negotiations "will need to be authorised by the incoming government", or it could seek the opposition's agreement on negotiating positions. Labor disagrees with the government's interpretation. Constitutional law expert Anne Twomey said the conventions only require that there is "consultation" with the opposition, rather than its approval. "As long as the executive government has the power to enter into the agreement, then legally it can do that. "If it breaches convention, there's no legal recourse." Professor Twomey questioned whether the commonwealth should show "a little more flexibility" given the political situation in Tasmania. Industry groups are also concerned about a lack of public detail regarding the final investment decision for Marinus. The project is estimated to cost $5 billion, including transmission line infrastructure in the state's north-west, which has attracted local community opposition due to land clearing. In 2023, the Tasmanian government negotiated its stake down from 20 per cent to 17.7 per cent, bringing it to an estimated $117 million, while the cables were reduced from two to one. Tasmania has the option of selling its stake to the commonwealth once the project is operational. Tasmanian Minerals, Manufacturing and Energy Council chief executive officer Ray Mostogl said there was broad "in principle" support for Marinus Link among industrial users, but more detail was needed. "I have received a verbal briefing about some of the elements of the business case, and it did outline there would be a cost increase for some consumer groups, and I fear that's likely to be the major industrials as a minimum," he said. "The government has responded prior to the election that they would consider using policy to address the inequities with the principle being no-one should be any worse off with Marinus in Tasmania. "This could have many millions of dollars' cost impost on some businesses, that might actually cause them to close if that happens. "I need more information to be able to understand what that actually looks like." Tasmanian Chamber of Commerce and Industry chief executive Michael Bailey told ABC Radio Hobart that "petty local politics" were getting in the way of the Marinus project. "We still don't have enough power for our industries. We need revenue in our budget," he said.
ABC News
2 days ago
- Business
- ABC News
Tasmania to proceed with Marinus Link decision, with Labor given a day to agree after 'sham' briefings
The Tasmanian Liberal government intends to approve a final investment decision on the Marinus Link interconnector project after months of negotiations with the Commonwealth. But with the government in caretaker mode, the decision requires consultation with the Labor opposition, with Premier Jeremy Rockliff giving Mr Winter until 9am tomorrow morning to give his support. The Commonwealth, however, has extended its deadline for a decision until August 2. Mr Winter and crossbenchers were given a briefing on Tuesday, where they were taken through a presentation on the project and were first able to see thousands of hard-copy pages of information. They were required to keep information confidential and were told the government intended to proceed with its final investment decision for Marinus Link. Greens leader Rosalie Woodruff described the process as "a sham", independent candidate Peter George said it did not show "respect" to crossbenchers, and independent Kristie Johnston called it a "document dump". Mr Winter said they had not been "properly consulted", and that the public should be able to see details in Treasury's whole-of-state business case, which the government received in May. That business case has not been publicly released. Mr Rockliff then sent Mr Winter a letter on Wednesday with an ultimatum for his support. "Pending your agreement, the Tasmanian government intends to make a positive Marinus FID [final investment decision] on the basis of the Australian government's new and current offer of amendments to the Shareholder Agreement," the letter reads. "As you are aware, not taking a positive FID at this stage will be equivalent to taking a negative FID. The final details of Tasmania's stake in the estimated $5 billion project — designed to give the mainland increased access to Tasmania's renewable energy resources — are still not publicly known. In 2023, the Tasmanian government negotiated its stake down from 20 per cent to 17.7 per cent, bringing it to an estimated $117 million. The project was also reduced from two cables to one, bringing its capacity down from 1.5 gigawatts to 750 megawatts. It also involved transmission line projects in Tasmania's north-west that have attracted community opposition due to significant clearing of native vegetation. Labor, the Greens and independents have also questioned whether the project would result in higher power prices for residential and industrial users in Tasmania. The government promised to release the whole-of-state business case by the end of June, for an investment decision by the end of July. Incoming Liberal MP Bridget Archer said it was not released due to the ongoing negotiations with the Commonwealth, that it contained third-party information, and that the government had secured "a better position" since the business case was completed. When asked if the business case should be released publicly before the investment decision was made, she said, "yes, hopefully". Last week, Mr Rockliff said that releasing the business case publicly before the decision "would be my expectation, absolutely". Energy Minister Nick Duigan said Labor, the Greens and independents now had access to all documentation. Mr Winter replied to Mr Rockliff by letter to say that he would be unable to meet the Wednesday morning deadline. Mr Winter said it was an unreasonable expectation. "This morning, I received a letter from Jeremy Rockliff demanding that I give full endorsement to more than 1,000 pages of material and years of work within 24 hours," he said. "Let me be clear: I won't be bullied into making a decision like that quickly. Mr Winter said Labor supported Marinus Link in principle, but needed more time to assess information that was first presented on Tuesday. Ms Archer said the consultation was in line with caretaker conventions, while Mr Duigan said the "new deal that has been struck with the Commonwealth" was beneficial for Tasmania. "Our commitment to Tasmanians is Marinus will protect power prices without any additional cost to our state, and that's what we are delivering," he said.
AU Financial Review
4 days ago
- Business
- AU Financial Review
CEFC investments hit record $4.7b as grid bill climbs
The head of the federal government's green bank expects investment commitments to scale a new peak this financial year, beating the $4.7 billion record achieved for last year, as long as a commitment is made to construct the Marinus Link power cable between Victoria and Tasmania. Ian Learmonth, chief executive of the Clean Energy Finance Corporation, said that in non-power grid areas, he was optimistic of a further increase in investments, but that the $3.9 billion Marinus Link project was 'the biggest swing factor' for the total for 2025-26.
