The Federal Government will today announce a $2 billion intervention in Australia’s electricity supply debate, by expanding the Snowy Mountains hydro scheme in a bid to power up to 500,000 homes.
Prime Minister Malcolm Turnbull will reveal the plan to increase the current 4,000 megawatt output of the scheme by 50 per cent, which the Government will claim is an “electricity game changer” and will help prevent power shortages in the eastern states.
“This will ultimately mean cheaper power prices and more money in the pockets of Australians,” he said.
Mr Turnbull has declared energy security will be the “defining debate” of the parliamentary year.
The unveiling of the “Snowy Mountains Scheme 2.0” will involve building new tunnels and power stations but no new dams will be built.
