Deal to connect Snowy 2.0 and renewable zones was struck in return for support for coal price cap
– will also see the federal government fund the connection of several of the state’s renewable energy zones to the electricity grid.
Asked on Wednesday whether the cap – which will allow the government to set the wholesale coal and gas price for the next 12 months – went against the Coalition leader’s “free market” ideals, Perrottet said he was “practical” about finding a short-term solution to soaring energy costs. The NSW government expects to lose about $150m in royalties as a result of the caps, but Perrottet has insisted his support for the package – which has been opposed by resource companies – was not contingent on compensation.
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