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| Electricity Plan Rejected By All Except Rees, Tripodi and Robertson |
| Sunday, 02 November 2008 | ||||||
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In moves showing the desperate state of the NSW Labor Government, Joe Tripodi has cobbled together an electricity sale plan that has been rejected by the Owen Report, NSW Treasury, Morris Iemma, Michael Costa and experts across the industry, Shadow Minister for Energy Mike Baird said today. "In his first test as Finance Minister, Joe Tripodi has failed to install any confidence following the release of his electricity plan which has been proudly endorsed by his new wingman John Robertson,” Mr Baird said. "In a sign of desperation, he has somehow secured the signature of the Premier on a transaction that has little external acclaim; will not guarantee the private sector building the future generation capacity that we need; will secure billions less in proceeds; and still leaves the State with significant ongoing budget risks for decades to come,” he said. "On any measure this plan was rightly rejected by everyone who considered it before Joe Tripodi and John Robertson agreed to it over lunch. "Nathan Rees is mistaking haste for action. He needs to explain how the risks will be removed from the State, why he has ignored the Owen report and how increased generation capacity will be built as a result of this plan? "The solution to our energy problems requires clear thinking and the best minds in the country to resolve, not a ‘back of the coaster’ dash for cash. “In addition, last week’s release of National Electricity Company’s (NEMMCO) electricity demand forecasts shows the date NSW could face power shortages has been pushed out to at least 2014-15. It also highlights the planned private sector investments in gas turbines suggest baseload generation investment may not be required until 2017-18. "This latest report shows that there remains some uncertainty in when exactly we need the investment in baseload generation to meet the growing demand. "The important point here is let’s not rush a plan that will hinder the State for years to come. “There is no doubt we will need increased baseload generation in the years ahead but, this current plan gives no guarantee it will be delivered and future forecasts suggest more time is on our side,” Mr Baird said.MEDIA: Lisa Harrington - 0406 726 880 Add to: Write Comment
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