NSW Election 2023: Comparison of energy policies

Energy policies of the State Liberal and Labor and Greens Parties, March 2023

Net zeroWill continue with the Net Zero Plan established for 2020-2030. The carbon emission reduction target of 50% by 2030 remains as an aspirational target. A new aspirational target of 70% emissions reduction by 2035 has been added.

Will legislate for a carbon emissions reduction target of 50% by 2030.
Labor will establish a Net Zero Commission which will develop a plan to achieve Net Zero by 2050. The Net Zero Commission will have responsibilities to monitor and review the implementation of the Plan. It would have powers to make recommendations to government on how more effectively to reach targets and consider targets for government’s own energy use. It would also support diversification of local economies and ensure mining communities receive a fair share from royalties.
Will seek 100% emission reduction target by 2030 and may legislate in the future.
The Greens will also establish a Climate Recovery and Transformation Authority to assist communities at risk of climate disasters.
Electricity Infrastructure RoadmapLiberals will continue with the NSW Electricity Infrastructure plan, managed by the statutory body, Energy Co. but expand it to include plans for increasing the contribution of solar electricity from households and batteries.
Labor’s Fresh Start Approach includes a new body to be known as the NSW Energy Security Corporation. This will be publicly owned. It will have a wider role than the existing Energy Co with the overarching focus on reliability of electricity supply from renewables and the inclusion of solar input from households and business, and expansion of community batteries.The Greens will establish an Energy Transition Authority to steer the transition to renewable energy.

Funding and focus changesLiberals will establish a $1.5 billion Energy Super Fund from the existing energy fund known as the Transmission Acceleration Fund which targets key infrastructure such as the Waratah Super Battery Project. The new fund will include $300 million earmarked for other large storage projects and $23 million for rooftop solar and community batteries.
Labor will redirect $1 billion from the Restart NSW Fund for the operations of the proposed Energy Security Corporation. The major priority of the Fund will be long-term storage solutions such as pumped hydro, and other technologies to stabilise the grid.
It will adopt an investment model rather than a grants process. This will enable public/ private projects where risk is jointly shared and will be modelled on the Commonwealth Clean Energy Finance Corporation.
The Greens will legislate for public ownership of energy assets – grid and coal and gas-fired electricity generators to be pulled back into public ownership.
The profits generated by these assets, will be used for investment in local communities transitioning away from local employment in fossil fuel companies. Funds will also be used to create flagship heavy industry and manufacturing projects that are also in public hands.
In order to fund the Climate Recovery and Transformation Authority the Greens will introduce a Climate Disaster Levy on coal exports to raise over $7 billion per year towards a Climate Recovery and Transformation Fund.
Will establish Citizens Climate Assemblies in communities to empower them to make plans in preparing for climate change and will ensure that funds drawn from levies paid by fossil fuel companies are available to assist these communities.
Other policies for renewable energyIn its Net Zero Plan, the Liberal Government Includes – Net Zero Industry and Innovation plan – Hydrogen Strategy – Waste and Sustainable Materials Strategy – Primary Industry Productivity and Abatement Program. It is not known whether these Plans will continue.
Not known.Funds for publicly owned manufacturing projects will boost government participation in the transition of manufacturing away from fossil fuels.
Phase out exploration and development of new coal and gas mines.Supports establishment of new gas and coal mines subject to environmental assessments.Supports establishment of new gas and coal mines subject to environmental assessments.Will disallow the approval of new gas and coal mines and will phase out coal and gas use for electricity generation and export by 2030.

Climate Action Burwood-Canada Bay does not endorse candidates for election, does not endorse political parties, and does not tell voters how to fill in their ballot papers. What we do is review the performance of the incumbent government and analyse the policies of parties seeking election. For information about making a formal vote, see the NSW Electoral Commission website elections.nsw.gov.au

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