The Prime Minister and NSW Premier have crossed ‘political lines’ to strike a deal that Anthony Albanese has described as one of the biggest announcements of their political careers.
The $7.8 billion joint venture will connect the NSW Renewable Energy Zones and Snowy Hydro 2.0 into the energy grid, in a bid to bring down household energy prices.
Stream more on politics with Flash. 25+ news channels in 1 place. New to Flash? Try 1 month free. Offer ends 31 October, 2023 “Today's announcement is about more secure, more reliable, more affordable energy for NSW and the entire east coast. Mr Albanese said his government was reconfiguring Australia’s energy market to meet the nation’s changing electricity demands, which have also been impacted by the war in Ukraine.
Last week the Albanese government passed emergency legislation to lower energy prices through a $125 per tonne cap on coal – to be imposed by Queensland and New South Wales – and a $12 a gigajoule limit on gas for 18 months.
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