Tuesday, 24 December 2019 15:31

Govt moves on projects to lower energy prices in Vic, NSW and Qld

Angus Taylor: "  “We are taking action to bring power prices down and keep the lights on." Angus Taylor: " “We are taking action to bring power prices down and keep the lights on." Courtesy YouTube

The Federal Government has agreed to the initial key support terms for two projects that, it is claimed, will help to bring down power prices.

A statement from Energy and Emissions Reduction Minister Angus Taylor said one of these was APA Group's proposed 220MW gas generator in Dandenong, Victoria, which would help balance the big increase in renewables in the state.

The second project is Quinbrook's proposed 132MW gas generator in Gatton, Queensland. The statement said this would provide new capacity during peak periods in Queensland and NSW, and also complement the Federal and NSW Governments' QNI interconnector upgrade.

Taylor claimed both projects had demonstrated they were financially viable, would secure the grid and help bring down electricity prices.

“We are taking action to bring power prices down and keep the lights on,” he said. “We’re delivering immediate relief through our new price safety net and banning sneaky late payment fees, but we’ve also got our eye to the future with projects like these.

“We are working to deliver an energy system that isn’t a roadblock to businesses growing and employing more people and that isn’t stinging family hip-pockets.”

Taylor said the government would now enter detailed underwriting and contractual negotiations with the two firms before deciding on the financial investment.

Final agreement is expected next year, with construction to commence soon after private sector finance is secured.


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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.



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