Bumper Hydro profit

October 29, 2022 1:31 am in by

Hydro Tasmania’s posted a $149 million profit for the 2020-21 financial year.

It has prompted the West Coast’s newly re-elected Mayor Shane Pitt to float a better rates deal than the less than $20,000 his council receives, despite a quarter of the state owned company being in the area.

He contrasts the $250,000 in rates paid to Hobart City Council for Hydro’s head office.

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Spirit of Tasmania government owned operator TT-Line has also released its latest financial result, a loss of $14 million, even though its revenue was up significantly.

The company partly blames rising fuel costs and Covid.