Tasmania's plan for power rebate released

Energy Minister Matthew Groom [centre] launched the Energy Rebate Scheme.

Energy Minister Matthew Groom [centre] launched the Energy Rebate Scheme.

Some relief will come to businesses after volatility in the national electricity market caused an increase in the national wholesale price of power.

Energy Minister Matthew Groom recently announced the state government had finalised the design of an energy rebate scheme.

Under the scheme, a rebate of up to $15 per megawatt hour will be made available to eligible business customers.

The rebate will apply retrospectively and to contracts entered into between January 1 this year and June 30, 2018.

“This means a further discount of up to 15 per cent against the wholesale contract price,” Mr Groom said. 

In a submission to an ACCC electrical pricing inquiry, the Tasmanian Small Business Council said the wholesale price of electricity had grown 37 per cent since March, 2015.

The submission said the increase would cost $3400 per annum for a customer consuming 200 megawatt hours each year.