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NSW Energy Deal to Reduce Power Prices and Emissions

Published: (Updated: ) in Australian News by .

The Morrison and Berejiklian governments have reached a landmark agreement to lower power prices for consumers, reduce emissions and strengthen grid reliability. Through this partnership, both governments have committed to deliver a number of initiatives that will: increase gas and electricity supply in NSW by encouraging investment; improve grid security by supporting transmission interconnection and … Continue reading “NSW Energy Deal to Reduce Power Prices and Emissions”

The Morrison and Berejiklian governments have reached a landmark agreement to lower power prices for consumers, reduce emissions and strengthen grid reliability.

Through this partnership, both governments have committed to deliver a number of initiatives that will:

The more than $2 billion deal includes:

Prime Minister Scott Morrison said the NSW energy deal was the first of many he hoped to sign with state and territory governments across Australia.

“I want households and businesses paying less for their electricity and I want to continue to get emissions down – this deal does both,” the Prime Minister said.

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“There is no credible plan to lower emissions and keep electricity price down that does not involve the greater use of gas as an important transition fuel.

“This plan is about getting greater access to that gas, as a vital accompaniment to our record investment in renewables.

“Our agreement also outlines a responsible transition of the NSW electricity sector to lower emissions technologies, while recognising the critical contribution that energy dependent manufacturing jobs make to the economy.

“Energy security is an important issue for all states and territories and we are committed to continuing our investment in supporting the security of the National Electricity Market so all Australians have access to reliable power,” the Prime Minister said.

“NSW already has a pipeline of around $26 billion of large scale renewable and non-renewable energy projects and the NSW Government has introduced a range of rebates to help keep prices down as well as a five-year $1.4 billion Climate Change Fund,” Premier Gladys Berejiklian said.

“Our agreement with the Commonwealth today will ensure we continue to strengthen and diversify our energy sector here in New South Wales – securing traditional energy sources whilst growing renewable energy investment across the state.

This is the first of a series of state bilateral energy agreements between the Federal Government and state and territory governments.

Source: 16 News http://www.16news.com.au/index.php/2020/01/31/nsw-energy-deal-to-reduce-power-prices-and-emissions/

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