Today in Question Time, Abigail asked the Minister for Energy about the delayed implementation of the NSW Labor Government's $1 billion Energy Security Corporation, pressing for updates on its establishment and board appointments.
Abigail said:
My question is directed to the Leader of the Government in her capacity as Minister for Climate Change, and Minister for Energy. It has been more than six months since this Parliament passed the New South Wales Labor Government's apparent flagship energy policy election commitment, which was the $1 billion Energy Security Corporation. Since then progress appears to have stalled, with no apparent progress towards establishing the corporation. What exactly is the status of the establishment of the corporation? How far progressed are interviews for board appointments, and why has it taken so long?
The Hon. Penny Sharpe (Minister for Climate Change, Minister for Energy, Minister for the Environment, and Minister for Heritage):
The question contained a bit of argument, but that is okay. I thank the member for her question and for her ongoing interest in the Energy Security Corporation. It is an important plank in this State's plans to decarbonise our electricity grid as we create new jobs in regional areas and work with communities as we take on the task of reimagining our grid for the future while dealing with increasingly unreliable coal-fired power stations. There has been a lot of progress. We are moving through the process of appointing the board members, and that is very close to being finalised. I am working with the Treasurer, among others, on the investment mandate, which is also very close to being finalised.
It takes a little while to do these things. Everyone wants things done yesterday. As the Minister, I probably say every single day, "Why is this taking so long?" My public servants are very well aware of that, as are my staff. But we are making good progress. An extra $1 billion will go towards investing in storage for things like community batteries, continuing to work on pumped hydro and finding gaps in the market that will accelerate the work of the road map and our plan for energy. That plan is about affordability and reliability, and not carbon pollution. I am glad that the member asked the question. Significant progress has been made, and I look forward to updating the House when I can make some more announcements about that.
Abigail then asked a supplementary question:
I thank the Minister for her answer. While I acknowledge that she may well have been asking the same question, I ask for some elucidation. It has been 237 days since the establishment of the corporation. Why has it taken so long to not even have board appointments by this time?
The Hon. Daniel Mookhey (NSW Treasurer): Isn't that my job?
The Hon. Penny Sharpe:
That is kind of the Treasurer's job, but I work closely with him. We are both working as quickly as we can. The Greens have not been in government. I appreciate the haste with which they want us to do things, but as I have indicated, these things take some time. It is about getting the right people in the right place at the right time so that we are ready to roll out a significant and important commitment. The elucidation is that we are doing it, and we are doing it as quickly as we can. We did the legislation last year. We are sorting out the board appointments. We are standing up a new organisation, so that is actually not too bad in the scheme of things. I share the member's desire for this to be happening as quickly as possible. I can assure her that the Treasurer and I, and our offices, continue to push these issues all the time. We will make some very good announcements very soon, and the member will be very pleased with the result.
Read the full transcript in Hansard here.
13 February 2025