Guaranteeing the essentials
Protecting and boosting the essential services Australians rely on
Reliable and affordable energy for Australians
The first step of our energy security plan provides an immediate response to Australia’s energy crisis
The Government is taking action to ensure reliable and affordable energy for businesses and households.
Australia’s energy system is facing unprecedented change, driven by changes in technology, consumer behaviour and our emission reduction targets.
This transition is presenting significant challenges for consumers, businesses and the energy market. Electricity prices for families and small businesses have doubled over the past decade and we have seen the damaging effects of blackouts.
The Government’s energy security plan supports the infrastructure needed to deliver reliable base load power, while supporting the innovation and development of new and more affordable energy into the future. The Government is also working with the industry, States and Territories to deliver a comprehensive reform package to secure Australia’s energy needs.
The Snowy Mountains Scheme 2.0
The game changing Snowy Mountains Scheme 2.0 will increase its generation capacity by 50 per cent and deliver 2000 megawatts of additional reliable renewable energy to power five hundred thousand homes. The Government has commenced discussions with NSW and Victoria to acquire a larger share or outright ownership of Snowy Hydro to facilitate the effective and efficient expansion of Snowy Hydro 2.0.
Securing Australia’s Energy Needs
The Government’s energy security plan provides reliable and affordable energy for Australians coping with rising energy prices. It includes:
- Securing access to our gas resources for domestic use. The Government will provide around $90 million to promote gas supply. The Government has also secured gas industry commitments to improve domestic supply.
- Ensuring consumers and industry get a fair deal. The Government has asked the ACCC to undertake inquiries into competition in retail electricity and gas markets.
- Working to improve energy regulation. Extra funding will improve gas market efficiency and transparency.
- Investing in new generation, transmission and storage capacity. Snowy 2.0 would provide a 2000 megawatt increase in capacity. Funding is also being provided to investigate new gas pipelines and for energy infrastructure in South Australia.
- Investing in new low emissions technology. The Clean Energy Finance Corporation has provided more than $3 billion of support to new technologies.
The Government’s long-term plan will be informed by independent, expert advice, with a review being conducted by Australia’s Chief Scientist, Dr Alan Finkel AO.
access
to gas
fair deal for
consumers
energy
regulation
generation,
transmission
and storage
in new
technology