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Support for reducing electricity costs for business

The Tasmanian Minerals, Manufacturing and Energy Council (TMEC) welcome today’s fifty-million-dollar loan scheme announcement by the State Government to increase the range of businesses eligible for financial support with a headwind of increasing electricity prices forecast across the National Energy Market (NEM).

The proposal to extend the opportunities for interest-free and low-interest loans towards energy efficiency improvements to unregulated customers who use more than 150 Megawatt hours per annum should incentivise businesses to take up this offer. The CEO of TMEC, Ray Mostogl said, “Any viable attempt to improve efficiency and therefore reduce the amount of electricity needed in a business is one of the most pragmatic and enduring ways to reduce electricity expenditure each quarter and each year onwards”.

TMEC remains optimistic the programs which require further detail before being implementable will be fast tracked and be available to offset predicted price rises in 2023 and 2024.