Simon Birmingham (SA, Liberal Party, Minister for Education and Training) Share this | Hansard source

I thank Senator Colbeck for his question. He is a fierce advocate for families and businesses across Tasmania, particularly in northern and north-western Tasmania. For nearly 90 years, as Senator Colbeck would well know, the Tasmanian hydro scheme has been providing reliable and affordable energy for the use of Tasmanians and, since the National Energy Market came along, for the benefit of all Australians in the NEM. Today it operates at around 30 different power stations in the hydro system, generating more than 2,200 megawatts of capacity. But the Turnbull government knows, thanks to the advocacy of strong Tasmanian Liberals, that we can get even more from the Tasmanian hydro scheme, particularly via support for pumped hydro. As Australia's Chief Scientist has acknowledged, pumped hydro is the most mature form of energy storage around the world, accounting for around 97 per cent of current energy storage.

This potential for more reliable, dispatchable and affordable energy is why we are investing further in pumped hydro. It's why we're pursuing the Snowy 2.0 scheme across New South Wales and Victoria. It is also why, through ARENA, we've identified sites around Australia, including 14 high-potential sites in Tasmania, for more pumped hydro. It is estimated that investment across those 14 sites could generate up to $5 billion worth of investment activity in Tasmania and sustain around 3,000 jobs in regional Tasmania. An outstanding example of this possibility is the Tarraleah Power Station, for which the Turnbull government is providing some $2½ million to ensure a full feasibility study into the potential for pumped hydro that would provide real economic benefits in north-western Tasmania in terms of the energy supply across Tasmania and right across Australia. Ultimately this is just another example of the Turnbull government delivering more investment in Tasmania, more jobs for Tasmania and more—and more affordable—energy for all Australians.