The Federal Government has committed $1 billion to help improve the reliability of the electricity grid, in a move it says will help households get "a fair deal on energy".
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| Investment in wind farms and battery projects have been suggested by experts. |
In what energy experts described as good signal but a drop in the ocean compared to requirements over the coming decades, the $1 billion will be handed to the Clean Energy Finance Corporation (CEFC) for investment in technologies that help to maintain the reliability of Australia's electricity grid.
The CEFC, set up under the 2012 Labor government, is required to turn a profit for the taxpayer. In the last financial year it leveraged $3 worth of private investment for each taxpayer-dollar lent.
If that ratio continued, the new money could result in a total of about $4 billion being invested into grid-reliability projects.
Read the ABC News story by Michael Slezak - “Federal Government hands $1 billion to Clean Energy Finance Corporation to boost power grid reliability.”
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