The Australian Government is developing a series of bilateral energy and emissions reduction agreements with state and territory governments that will improve energy reliability and affordability across the country and support the transition of energy markets to lower emissions technologies.
New South Wales energy and emissions reduction agreement
On 31 January 2020, the Honourable Prime Minister of Australia, Scott Morrison, and the Honourable New South Wales Premier, Gladys Berejiklian, signed an agreement, worth more than $2 billion, committing both governments to collaborate on a number of initiatives that will:
- increase gas and electricity supply in New South Wales by encouraging investment
- improve grid security by supporting transmission interconnection and network access
- and support emissions reduction projects that deliver genuine abatement
The Australian Government is focused on ensuring Australian consumers have a secure and reliable energy source at the lowest cost. State and territory deals will complement other actions the government is currently implementing to lower energy costs and meet or emissions reduction targets.
NSW energy deal to reduce power prices and emissions Prime Minister and New South Wales Premier joint media release 31 January 2020