It comes as the Opposition continued its calls for the government to honour its scrapped promise to cap electricity prices at 5 per cent across the board.

Mr Bartlett said the government provided $320 million in concessions to low and fixed income earners in the state for products such as electricity.

"We recognise that, as prices rise inevitably across the globe and certainly across the nation and at a much faster rate than Tasmania's power prices, there may be need for an adjustment," Mr Bartlett said.

"That adjustment will be delivered in the context of good fiscal management."

The opposition continued to argue a $46 million improvement in the budget bottom line could fund a 5 per cent cap on electricity prices for a year.

The promise was costed by Treasury before the election at $23 million.

Mr Bartlett repeated that an expert panel which will review the state's energy industry and the government's cost of living strategy were the best ways for the government to determine how it could better help struggling Tasmanians.

"We are putting into place a whole range of actions that will be the best within the financial discipline and constraints of the state government's resources," he said.

"Ultimately we will put in place the very best regime to keep the cost of living low."