***Submissions have now closed***
The Federal Government want to use Australia's clean energy bank, the Clean Energy Finance Corporation (CEFC), to prop up their gas-led recovery agenda.
There's a Bill before Parliament for a $1 billion Grid Reliability Fund, which would provide welcome funding for clean energy investment and grid modernisation, but also includes several backwards amendments that would allow the Government to use the CEFC to make risky investments in polluting gas.
The legislation has been referred to a Senate Committee for scrutiny and they are now accepting submission from the public. Make sure you have your say below and tell them to keep dirty fossil fuels out of the CEFC.
Here are some points to consider in your submission:
- The $1 billion Grid Reliability Fund is a positive move to increase investment in additional energy storage and grid modernisation, but there is no justification for expanding the CEFC's mandate to allow risky and polluting gas investments.
- The CEFC is already highly successful in driving investment in the most cost-effective low emissions technologies. Gas is not a low emissions technology and Australia can transition to clean energy without it.
- Gas is in decline globally and further investment will lock in more unnecessary years of high emissions and will leave Australia with the economic burden of stranded gas assets.
- This Bill would appoint the Energy Minister with unnecessary extra power to direct the CEFC's investments of public clean energy funding with less accountability, and would put more risk on Australian taxpayers.