The federal budget has boosted billionaire Andrew “Twiggy” Forrest’s hopes of building a new power plant in NSW but has left the energy market in confusion over whether the government will follow through on a mooted taxpayer-funded gas generator.
Squadron Energy chief executive Stuart Johnston welcomed the Commonwealth’s commitment and said the “transformational” project could help the Morrison government deliver on its energy goals. Energy Minister Angus Taylor said Squadron Port Kembla plan is a “highly prospective project to secure affordable and reliable power”.they were seeking answers on whether support for Squadron’s project would offset the need for the Morrison government to build its own gas power plant in NSW through the publicly owned Snowy Hydro.
No funding for the project was included in the budget. Although the investment could be listed as a contingent liability, the corporation’s ledger was not updated.Just 316 megawatts of extra capacity had been committed by the government’s April 30 deadline through EnergyAustralia’s Tallawarra B gas plant in the Illawarra.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Where $15.2 billion of infrastructure spending will go – state-by-stateA new $15.2 billion infrastructure spend was added in this year&x27;s Federal Budget to the government&x27;s ongoing $110 billion, 10-year building program. What about the cuts to universities?
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Japan's two leading tennis players cast doubt over staging Tokyo Olympics amid pandemicJapanese tennis star Kei Nishikori joins Naomi Osaka in calling for greater discussion around whether the Olympic Games should kick off in Tokyo as planned on July 23. Good - at least there are some people saying what needs to be said. There is no way we should even be contemplating holding an Olympics in the middle of a pandemic. We really need to get our priorities straight. Olympics need to be cancelled. The world is still struggling with covid. It's just not safe enough yet. Athletics aren’t essential.
Source: abcnews - 🏆 5. / 83 Read more »
NSW watchdog casts doubt on Blackstone’s timeline for Crown bid clearanceThe head of NSW’s gambling regulator has thrown cold water on claims that US private equity giant Blackstone will have probity clearance to take over James Packer’s Crown Resorts by October, saying the process will be exhaustive and take as long as necessary.
Source: smh - 🏆 6. / 80 Read more »
Budget may be bleeding but at least it has a beating heartThe Herald's view: This is a political budget, but it’s not a big-spending vote-buying budget. The spending strategy is the right call - for now It's raining money, hallelujah, it's raining money, amen I'm gonna go out to run and let myself get Absolutely soaking wet It's raining money, hallelujah It's raining money, every specimen Notes, coins, green and yellow The LNP just lost the next election guaranteed by ignoring the massive voting groups, Unemployed, Pensions, All those living in poverty etc, all those thousands waiting on public housing. The LNP have failed to deliver.
Source: smh - 🏆 6. / 80 Read more »
'Not just more money': Budget promises aged care reform with $18 billion in spendingAged care staff will have to spend more than three hours a day with each resident by 2023 and 80,000 extra home care packages will be provided as part of reforms promised in the budget. More gratis political advertising for the LNP. No questions asked. No scrutiny. Just propaganda straight from the PMO. ThisIsNotJournalism What do we want? AUSTRALIA WIDE AIR GAPPED QUARANTINE FOR ALL ENTRANTS & PROPER PPE FOR ALL HEALTH CARE WORKERS!!! When do we want it? FEB 2020. But we didn't get it then, or since, so... WE WANT IT NOW!!! fixquarantine Almost all in the wrong places. Couldnt grab a unique thought if it bit them on the ****.
Source: abcnews - 🏆 5. / 83 Read more »
After the destruction of Juukan Gorge, Indigenous heritage protection gets $500k in budgetThe government's federal budget commitment of $500,000 towards improving cultural heritage protection is likely to raise questions over whether it is sufficient to address the concerns raised by Indigenous groups. Everyone is sooo concerned about this. Yes, for that kind of money feel free to mine wherever you like…..💥……except there, not there… Good.
Source: SBSNews - 🏆 3. / 89 Read more »