More Jobs, Lower Power Prices

The Albanese Labor Government will rewire the nation to drive down power prices, give our economy a boost of up to $40 billion and create thousands of new jobs – particularly in regional areas.

Australia should be a renewable energy superpower, but our electricity transmission system is desperately outdated.

It doesn’t properly integrate the full capacity of the growing renewables sector, let alone unlock its potential.

Labor’s Rewiring the Nation will invest $20 billion to rebuild and modernise the grid, in line with a blueprint already completed by the Australian Energy Market Operator and signed off by all governments.

Modernising the grid will provide thousands of new construction jobs for Australians, many of those in our regions.

It will revitalise traditional industries like steel and aluminium and allow growth in new sectors like hydrogen and battery production.

Fixing transmission is technology neutral and will allow the market to drive least cost, reliable new energy production.

By working with the Clean Energy Finance Corporation (CEFC) and keeping it in public hands as a government-owned entity, Labor will ensure the grid is rebuilt at the best price possible.

The CEFC will partner with industry and provide low cost finance to build the Integrated System Plan. The end result will be cheaper electricity prices for homes and businesses.

The Labor Government will ensure Australia’s modern energy grid will be built by Australian workers using Australian suppliers by mandating local supply and local labour.

The 2023-24 budget shows that more than half of funding under the Rewiring the Nation program has been allocated to projects. These include the KerangLink between NSW and Victoria, and the Marinus Link between Victoria and Tasmania. 

Only Labor will build an electricity network designed for this century – one which accounts for the rise of renewables as the cheapest new energy source, and links them up to the grid.