Is it the battle of the gigawatts? Both Labor and the Greens have promised a state-owned power company to supply massive amounts of renewable energy.
Labor is proposing to add 7 gigawatts of renewable energy by 2030 to the NSW power grid. The Greens are proposing a plan that would make NSW 100 per cent renewable energy reliant by 2030.
The Greens plan four large renewable energy hubs in regional NSW are part of the NSW Greens election plan to make NSW 100 per cent renewable energy reliant by 2030.
The party wants to set up a public-owned new energy company, PowerNSW, to supply and retail electricity.
“PowerNSW will fundamentally change the NSW electricity market by building, distributing and retailing affordable and publicly owned renewable energy across NSW,” Greens MP David Shoebridge said.
“PowerNSW will build a 100% renewable energy supply for NSW by 2030 by commissioning one gigawatt of low cost, public renewable energy every year.
“The renewable energy hubs are based on the state’s extraordinary renewable energy assets, in the Murray-Riverina region, Northern NSW Tablelands, Central West NSW and Broken Hill. We welcome that NSW Labor today have finally come some of the way on supporting a publicly owned energy company in line with our long standing Greens policy.
“Under the plan, PowerNSW will construct four regional renewable hubs as part of a $5 billion Regional Clean Infrastructure investment to deliver jobs and tackle climate change.”
The Greens say it could save $220 a year on householders’ power bills.
Meantime, NSW labor Leader Michael Daley says he will also set up a public power company in NSW.
Labor would also establish a new state-owned power company to deliver a further one gigawatt of renewable energy and storage.
“NSW cannot be a supplicant state for energy,” Mr Daley said. “We have to produce our own energy, create our own jobs and give energy security to our own people. If we don’t move now, we will completely fall behind and lose our advantage.”
He said NSW Labor would raise $9.5bn through a series of competitive tenders and long-term contracts – known as reverse auctions – in which governments invite bids for projects from developers at the lowest price they would accept. The timing, size and content of each auction round would be determined in conjunction with the Australian Energy Market Operator.
Don Harwin, NSW Energy Minister said the "nonsensical and absurd Greens target of 100 per cent renewable energy by 2030 is unachievable - it is dangerous - and it would undoubtedly lead to grid instability and higher electricity prices".
"The NSW Liberals & Nationals Government is getting on with the job of delivering more affordable, reliable and clean energy while supporting private sector investment and advocating for sensible national reform," he said.