Malcolm Turnbull has nothing do with the next phase of the Snowy Hydro – but he keeps turning up in Eden-Monaro for photo opportunities and helicopter joy rides nonetheless.
Today, the Prime Minister was in Cooma to pretend he was throwing more money at the Snowy Hydro feasibility study – this isn’t news. In Senate Estimates in May this year, Snowy Hydro already confirmed they were expecting the feasibility study to cost $29 million and ARENA to put in $8 million of this cost.
I support Snowy Hydro as they commence a feasibility study into several sites across the Scheme which could support new large-scale, pumped hydro-electric energy storage and the thousands of jobs it will bring to Eden-Monaro.
However, Malcolm Turnbull is not providing the leadership that is required to establish policy certainty or to encourage private investment back into renewables and this is having a direct impact on Eden-Monaro.
Southern New South Wales has enormous potential for economic growth based on the renewable energy industry. Over $1 billion dollars of investment came in to this region for renewable energy projects under the previous Labor Government’s policy settings.
Under the Coalition Government renewable energy investment has fallen off a cliff, an 88% decline.
All Australians are paying more than they would if our national Government implemented a national energy policy like a Clean Energy Target. This is the clear advice of industry, states and all the experts, including the Government’s own Finkel Report.
Despite commissioning the Finkel Report the Turnbull Government has failed yet again to act on expert advice, paralysed by their deep internal divisions.
Business and the broader community need the certainty and clarity that comes from a sound approach to managing the energy market, which will have the effect of driving job growth in an area we desperately need, the energy sector.
The only thing standing in the way is the Turnbull Government. Media Release