Revenue Reset 2029-2034
How are we preparing for Tasmania’s energy future?
By investing where it delivers the greatest value, balancing affordability with customer expectations and ensuring the network is prepared for future needs.
Tasmania’s electricity needs are changing. TasNetworks is working to balance three priorities, maintaining a network that is safe, reliable, and sustainable. Delivering energy services is becoming more complex as Tasmania’s energy landscape evolves. Climate change, ageing assets, and the integration of new technologies are transforming how and when electricity is used.
Increasingly frequent extreme weather events, evolving community expectations, workforce and supply chain pressures, and the need to connect more renewable generation are all adding complexity. This is at a time when many Tasmanians are experiencing cost of-living pressures, and our major industrial customers across the transmission network are also facing economic challenges.
TasNetworks must find the right pace of change to invest in the network where it matters most to customers to build a stronger, smarter, and more flexible network for the future.
What is a Revenue Reset?
Every five years, TasNetworks goes through a process called a Revenue Reset. It’s an important part of planning for Tasmania’s electricity future and making sure the network can continue to deliver safe, reliable and affordable electricity to Tasmanians.
The Revenue Reset is overseen by the Australian Energy Regulator (AER). As part of the process, TasNetworks develops a detailed plan for what the electricity network will need over the next five years, including the cost of operating and maintaining the network, as well as the investment needed to keep it safe, reliable and ready for the future.
The AER carefully assesses TasNetworks’ plans and proposed costs to make sure they are efficient and in the long-term interests of customers. The AER then determines how much revenue TasNetworks can recover to provide these essential network services.
The approved revenue is recovered through network charges, which are one part of the electricity bill.
2029-2034 Revenue Reset
The Revenue Reset helps make sure customers only pay for efficient and necessary investment in the electricity network. Network costs make up around 45% of a typical Tasmanian electricity bill in 2025–26, making the Revenue Reset an important process for customers and the future of Tasmania’s energy system.
TasNetworks is currently operating within the 2024–29 regulatory period and is already planning for the next five-year period, from 2029–34. This long-term planning considers what the network will need to remain safe, reliable and fit for the future, while keeping costs as efficient as possible for customers.
Developing the Revenue Reset proposal is a significant whole-of-business effort, involving more than 100 TasNetworks staff over four years. It brings together expertise from across the organisation to understand what investment is needed and why.
Importantly, customers and stakeholders have a voice in this process. Engagement with groups including the Customer Advisory Group (CAG) and Stakeholder Advisory Group (SAG) helps TasNetworks understand different perspectives and ensure the proposal considers the long-term interests of customers and the broader Tasmanian community.
What does it mean for your electricity bill?
The Revenue Reset determines the network component of your electricity bill – not the total amount you pay.
The Australian Energy Regulator (AER) assesses TasNetworks' proposal and determines the maximum amount of revenue TasNetworks can recover from customers. Network charges are then set within that approved limit.
This revenue helps fund the day-to-day operation and maintenance of the network, as well as the investment needed to keep it safe, reliable and ready for the future. Your total electricity bill also includes other costs that are outside the scope of the Revenue Reset, including:
- electricity generation
- retailer costs
- metering
- renewable energy certificates
Customer and stakeholder engagement
How customer voices are shaping the 2029 - 2034 Revenue Reset.
