Overview

• On August 1, Energy Minister Nick Duigan used caretaker powers to execute the final investment decision for the $5 billion Marinus Link to avoid up to five-year project delays.
• The deal allocates 49 percent equity to the Commonwealth and 17.7 percent each to Victoria and Tasmania and is expected to create over 2,000 jobs, deliver $400 million in annual returns and unlock $4.4 billion in renewable energy investment.
• Treasury released only a 25-page executive summary of the 400-page business case before signing, prompting criticism over the secrecy of key financial and regulatory details.
• The summary forecasts a roughly 45 percent rise—about $20 million more—in industrial electricity costs and warns of potentially significant additional equity contributions if approvals stall.
• Independent MPs including Craig Garland and Kristie Johnston have ruled out supporting the Liberals over the hurried process, casting doubt on their ability to form a stable government.