Australia has seen its fair share of catastrophic disasters this year. In response, the Government has announced the creation of a $3.9bn Emergency Response Fund. The Fund will provide $150m per annum from 2019-20 to 202-24 following a significant and catastrophic natural disaster. This funding is applied where the disaster requires funding beyond relief measures already in place.
Climate solutions package
A previously announced $3.5bn package of measures will support Australia’s 2030 climate commitments. These include:
Creation of a climate solutions fund to fund low cost abatement measures
Increased funding for the Snowy 2.0 project and the Government departments that oversee it
Creation of an Energy Efficient Communities Program to provide grants to businesses and communities
Feasibility studies to accelerate the delivery of Marinus Link, a second interconnector between Tasmania and the mainland, to unlock pumped hydro storage potential in Tasmania
Funding to improve household energy consumption
Energy infrastructure
$75.5m over 7 years will be provided for investment in network infrastructure, dispatchable generation and reliable energy supplies in the National Electricity Market.
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