In tonight’s Federal budget announcement, Treasurer Scott Morrison announced $37 million would be allocated for “energy infrastructure” in South Australia.
Electricity prices were also a focus. This is what Morrison had to say.
“The Prime Minister’s energy security plan provides reliable and affordable energy for Australians, coping with rising electricity prices,” he said. “He is securing access to our gas resources for domestic use. We have set aside around $90 million for this task in this budget. He is ensuring energy consumers and businesses get a fairer deal, by funding the ACCC to investigate and police competition in retail electricity and gas markets.”
Morrison said Prime Minister Malcolm Turnbull is working to improve energy regulation “with additional funding tonight to improve gas market efficiency and transparency”.
Investment in “new generation, transmission and storage capacity” includes the Snowy Hydro Scheme 2.0, the $37 million to South Australia and funding “to prove up gas pipeline proposals to South Australia from Western Australia and the Northern Territory”.
More than $3 billion has already been provided to support new emissions technologies, Morrison said.
Read the full speech here.