Labor to create ‘$20bn fund for energy transmission’

Treasurer Jim Chalmers says the government understands the “generational and economic imperative to act on climate change” and has a plan in place to ensure the “stability” of the power grid.

“Our plan encourages investment in renewable energy, which is cheaper energy, and creates thousands of new jobs in the coming years, many of them in our regions,” said Dr. Chalmers.

Dr. Chalmers said that to achieve this goal, the government will set up a $20 billion fund for energy transmission.