Prime Minister Anthony Albanese says his plan to upgrade the power transmission system and invest in battery storage is the certainty companies need to invest in clean energy.
Albanian customs Sunrise Almost a decade of “backlog and denial” under the previous government had recently thwarted investment in the renewable energy sector.
Prime Minister Anthony Albanese. Credit: Rhett Wyman
He acknowledged that there was a supply problem with energy in Australia, and “it was not good to gild the lily and pretend that this has not happened”.
“People want to put an end to the nonsense that has happened over the last decade,” he said.
“You can’t fix 10 years of inaction in just 10 days, but we’re taking immediate action through AEMO [the Australian Energy Market Operator] to make sure the lights stay on. At the same time, we make sure that we create the investment environment to make sure we do it right. “
As previously reported, the Albanian government plans to upgrade Australia’s power transmission network and invest in community batteries as a means of encouraging private investment. It is estimated that the plan will provide $ 52 million in private sector investment in cleaner energy in the coming years, creating more business certainty.
Albanese said the plan was no different than people putting solar panels on their roofs.
“Once you make that expenditure, the energy will become cheaper in the future and then you become so competitive,” he said. “So if we do it right, this can be an opportunity to drive new jobs, new industries.”
He said about 25 per cent of the East Coast energy market was out of service due to facilities reaching the end of their useful life.
“We need new investments in the system, and the cheapest form of new investment is clean energy,” he said.