Funding agreement signals more jobs to come
A joint funding agreement between the Australian, Tasmanian and Victorian governments has answered the big question around who is paying for Marinus Link.
The agreement has formalised the joint ownership for the delivery of Marinus Link between the three governments, ensuring a fair deal for Tasmanian energy customers.
“With Marinus Link, the average Tasmanian household energy bill will be $60-70 lower per year,” Marinus Link CEO Bess Clark said.
The construction of Marinus Link will also create job opportunities for Tasmanian businesses, with some already realised through survey and investigation contracts.
“There are already 15 local contractors and subcontractors involved in geotechnical investigations in Heybridge, including local Tasmanian businesses such as CoreMarine, BridgePro and Sub41,” Ms Clark s aid.
North West Tasmania at the heart of future jobs
In early November, CEO Bess Clark visited the Cradle Coast Future Energy Hub in Burnie with Tasmania’s Minister for Energy and Renewables Guy Barnett, and Minister for Skills, Training and Workforce Growth, Felix Ellis.
At the centre of these discussions was the projected economic growth for North West Tasmania that will come as a result of Marinus Link. This includes an estimated 1400 Tasmanian direct and indirect jobs that will be created at peak construction.
“The jobs will span a wide range of skills and include technicians and trade workers, labourers, machinery operators and drivers, professional roles, managers and admin staff,” Ms Clark said.
“Marinus Link presents a huge opportunity to be part of a cleaner and more prosperous energy future right here in North West Tasmania.”
Out and about in the community
The Marinus Link engagement team has enjoyed getting out in the community to answer questions and share information about the project.
In September, we held a drop-in session and sausage sizzle at the Sulphur Creek Community Hall. A big thank you to Julie and the team at the Penguin Lions Club for keeping everyone’s bellies full while the team shared information about the proposed Heybridge Converter Station.
The following day we held a stall at the Burnie Farmers Market, and while our offerings were not as tasty as the fresh produce and handmade dumplings on offer, we had many great conversations with locals!
We were pleased to see the rain held out for the Burnie Show, encouraging a record crowd through the farm gates at Ridgley. Many conversations were had, and it was great to see families having a good time and enjoying the carnival offerings. We look forward to returning to the show in 2023!
To end our engagements for the year we were back at the Burnie Farmers Market on Saturday, 3 December. We always enjoy seeing the quality produce on offer at this market.
Answering your questions – Geotechnical investigations at Heybridge
Each community update, we will feature new frequently asked questions about our project. If you have a question you would like to see featured in this publication, email your question to team@marinuslink.com.au.
What was the platform near the shore at Heybridge?
Throughout 2022, we’ve done geotechnical investigations near the shore at Heybridge. The platform was known as a self-levelling platform (sometimes known as a jack-up barge) which has adjustable legs to keep the platform level on uneven ground. The platform is the worksite for our investigation team to store equipment and undertake investigations. The investigations are now completed.
What are geotechnical investigations?
Geotechnical investigations help us understand the conditions of the seafloor and involve taking core samples using a specialised drill. The physical properties of these samples are then studied to provide data for the project.
Why are geotechnical investigations happening at Heybridge?
The proposed Heybridge Converter Station site for Marinus Link is at the corner of the Bass Highway and Minna Road. The cables for Marinus Link will come into the site underground from the shore. Geotechnical investigations help us refine the cable route and construction methods.
Answering your questions
Who will pay for Marinus Link?
Under the funding agreement announced in October 2022, the Australian, Tasmanian and Victorian governments will contribute equally to a combined 20% equity share in Marinus Link. The remaining 80% of the project costs will be funded via an Australian Government Rewiring the Nation loan.
What does this mean for Tasmanians?
Tasmanian customers will pay no more than 15% of estimated total project costs for both Marinus Link and the North West Transmission Developments.
Will the benefits of Marinus Link outweigh the costs?
Marinus Link has been painstakingly scrutinised to understand the costs and benefits, including by the Australian Energy Market Operator (AEMO). In June 2022, through its Integrated System Plan, AEMO declared that Marinus Link must be delivered urgently for the benefit of Australia and estimated $4.5 billion in net benefits. The Australian Energy Regulator (AER) has also overseen a cost-benefit assessment that demonstrates Marinus Link and the supporting North West Transmission Developments will deliver benefits well above the costs to build and operate.