Hydro Tasmania has denied it is in line to receive a carbon tax windfall amounting to hundreds of millions of dollars.
Tasmanian Independent MP Andrew Wilkie has said Australia’s largest renewable energy business could be $200 million a year better off once the carbon scheme begins next July.
The state-owned power generator says it will not be that much.
Hydro’s CEO Roy Adair says the company may only receive $50 million.
“We will have shall we say a far better picture in December when the legislation is enacted,” he said.
Chairman David Crean says there is too much uncertainty to be suggesting a figure.
But he has not blaming the Federal Government.
“It’s a minority parliament, it’s been the most contentious issue federally.”
Dr Crean says any tax windfall will depend how the price is passed through to Hydro.
It will also depend on what the market pays and what the regulator does.
“The regulator may not pass it through.”
“Certainly $200 million is not on; $100 million probably not; could be around $50 million or below.”
Dr Crean says whatever the profit result is for Hydro, the Government receives about 90 per cent and it can spend it how it sees fit.
Hydro Tasmania posted a record operating profit of $100 million, as trading booms on the mainland.
