An Albanese Labor Government will rewire the nation to drive down power prices, give our economy a boost of up to $40 billion and create thousands of new jobs – particularly in regional areas.
Australia should be a renewable energy superpower, but our electricity transmission system is desperately outdated.
It doesn’t properly integrate the full capacity of the growing renewables sector, let alone unlock its potential.
Labor’s Rewiring the Nation will invest $20 billion to rebuild and modernise the grid, in line with a blueprint already completed by the Australian Energy Market Operator and signed off by all governments.
Modernising the grid will provide thousands of new construction jobs for Australians, many of those in our regions.
It will revitalise traditional industries like steel and aluminium and allow growth in new sectors like hydrogen and battery production.
Fixing transmission is technology neutral and will allow the market to drive least cost, reliable new energy production.
By establishing the Rewiring the Nation Corporation (RNC) and keeping it in public hands as a government-owned entity, Labor will ensure the grid is rebuilt at the best price possible.
The RNC will partner with industry and provide low cost finance to build the Integrated System Plan. The end result will be cheaper electricity prices for homes and businesses.
And Labor will ensure Australia’s modern energy grid will be built by Australian workers using Australian suppliers by mandating local supply and local labour.
The Morrison Government refuses to deliver the modern energy network we need to unlock Australia’s renewable energy potential, cut electricity prices and grow jobs in energy and other sectors.
The Liberals have had 22 energy policies in the last eight years and all they have to show for it are higher electricity prices and higher emissions. Australia can do so much better.
Only Labor will build an electricity network designed for this century – one which accounts for the rise of renewables as the cheapest new energy source, and links them up to the grid.
Quotes attributable to Labor Leader Anthony Albanese:
“Australia’s electricity network was designed for a different century, and transmission systems themselves are operated by monopoly providers who keep taking households and businesses for a ride.”
“Australians don’t just pay for their power, but for the cost of building and operating the grid and then a hefty price on top.”
“Only Labor will tackle this head on with a modern grid, more jobs, cheaper power prices and the reliable energy our country needs to power industry into the future.”
Quotes attributable to Shadow Minister for Climate Change and Energy Chris Bowen:
“There is a race for renewable energy jobs and investment around the world and Australia should be leading that race.”
“As more renewable energy gets built, we need the transmission network to support it. That’s why Rewiring the Nation is a no brainer. It ensures Australia’s modern energy grid will be built by Australian workers using Australian steel at the lowest possible cost.”