Independent Australian Energy Market Operator confirms need for Marinus

The Tasmanian Liberal Government strongly supports Battery of the Nation and the Marinus Link projects as vital elements of the renewable solution to Australia’s transitional future energy requirements.

The Australian Energy Market Operator today confirmed with the release of its

Draft 2022 Integrated System Plan that the pace of change in the National Electricity Market is accelerating and Marinus Link is a key part of ensuring the lowest cost national transition to renewable energy.

The Marinus Link interconnector is a proposed 1500 megawatt capacity undersea and underground electricity connection between Tasmania and Victoria, identified as a critical part of Australia’s future electricity grid.

AEMO forecasts that the NEM will operate without coal generation by 2043 and without brown coal generation by 2032. Marinus Link and Hydro Tasmania’s Battery of the Nation are ideally placed to support this transformation, providing access to the firming capacity of Tasmania’s hydro system, new pumped-hydro storage, and facilitating the further growth of Tasmania’s excellent onshore and offshore wind resources.

Being an actionable project means that AEMO considers Marinus Link to be part of the lowest cost, highest benefit solution for the future development of the NEM.

Marinus Link will cut at least 140 million tonnes of CO2 by 2050, the equivalent of taking approximately one million cars off the road.

According to AEMO, Marinus Link contributes roughly $4.6 billion in net market benefits to energy consumers by keeping downward pressure on energy prices through improved access to Tasmania’s deep storage dispatchable capacity and high quality wind resources.

This confirms that with Tasmania’s clean, reliable and low cost energy we can keep downward pressure on power bills and contribute to a cleaner Australia and a cleaner planet.

The Tasmanian Government continues to work with the Australian Government to ensure timely resolution of cost allocation and regulatory arrangements so that Tasmanians only pay their fair share for this national infrastructure as we progress Marinus Link and Battery of the Nation, and our complementary vision for renewable hydrogen.

Tasmania is perfectly placed to deliver what the country needs – low cost, reliable and clean energy that delivers energy security, downward pressure on prices, as well as much needed economic stimulus and jobs for Tasmanians.