Inquiry into Treasury Laws Amendment

We commend the government for Schedule 8 - to supply the CEFC with additional funding to implement the Rewiring the Nation plan, establish the Powering Australia Technology Fund and streamline provision of additional funds to the CEFC in future. This step is important to delivering funding efficiently, will enable growth of the Australian clean energy sector and drive a much needed and rapid transition of Australia’s energy system to ensure we reduce emissions.

CEFC is the ideal agency to oversee the broad scale investment priorities for a holistic upgrade of electricity generation, transmission, distribution, storage and system security. The National Supergrid report makes a recommendation for spending over the next five years to build the foundations of this grid, detailed in table 1 for your interest. This recommendation ensures that expenditure can deliver a suite of national benefits to all Australians and is designed to assist in prioritising competing investments to ensure an equitable energy transition.