The National Energy Guarantee will lower power prices and secure a more reliable energy system for families and businesses across NSW, Premier Gladys Berejiklian has said.
This morning the NSW Cabinet endorsed the implementation of the National Energy Guarantee (NEG) without delay and has urged other states to put the public interest first and sign up to the agreement.
“I support lower power prices and a more reliable electricity system and that’s what the NEG is going to deliver,” Ms Berejiklian said.
“It is disappointing that Labor states are standing between the community and lower power prices. I urge all States to put the national interest ahead of their local political interests.
“As a nation we need investment certainty to make sure that businesses can invest in the next wave of electricity generation to keep our lights on, and I encourage all parties to act towards this goal.”
Minister for Energy and Utilities Don Harwin added: “NSW has always argued for reliability and affordability to be front and centre of any national energy reforms.
“That is why we support the National Energy Guarantee. A national approach to the energy market would increase certainty for investors and lower prices for customers.”
Independent, expert analysis forecasts that the NEG would reduce power prices by $550 a year over the 2020s for a typical household.
The NSW Liberals & Nationals Government is committed to lowering energy prices and has taken significant action to do so. A national approach is crucial to ensure long-term downward pressure on prices and long-term reliability of the grid.
The NSW Government’s Energy Affordability package has boosted rebates for 900,000 households and is saving families and small businesses hundreds of dollars on their energy bills.
The NSW Government is making it easier for customers to switch between energy providers, which could help households save more than $1000 a year on their bills.