SUBSCRIBE
PROFILE

Australia: $3.5 billion for climate and energy in the 2024-25 budget

The Minns Government is allocating $3.5 billion in the 2024-25 budget to strengthen NSW's energy system and support households in their energy transition.

Share:

Transition énergétique NSW

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25£/month*

*billed annually at 99£/year for the first year then 149,00£/year ​

Unlimited access • Archives included • Professional invoice

SUBSCRIBE - 99£/year

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2£/month*
then 14.90£ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The Minns Labor government is allocating a total of $3.5 billion in the 2024-25 budget for the climate and energy sectors. This decision is designed to ensure a reliable and secure energy system for New South Wales (NSW).

Key budget allocations

The 2024-25 budget includes $238.9 million for the Consumer Energy Strategy. This initiative aims to help households modernize their homes, making them more energy-efficient. To improve infrastructure, $128.5 million will be invested over two years to upgrade roads and infrastructure linking the Port of Newcastle to regional renewable energy zones. This will make it easier to transport the components needed to build energy infrastructures.

Financial support and energy security

In 2024-25, $435.4 million will be allocated to increase the value of energy bill reductions, helping households cope with the cost of living. A $10 million pilot program will provide assistance for people in critical need. In addition, $15.8 million will be invested to increase electrical safety inspections of domestic installations. In addition, $87.5 million over four years will be devoted to energy upgrades for social housing.

Investment in renewable energies

The budget includes $3.1 billion for the implementation of NSW’s renewable energy zones. The aim is to integrate more clean energy into the grid, while creating stable jobs in local communities. 87.5 million will be invested in energy upgrades to social housing properties, to reduce energy costs for residents.

Legislative reforms and regulations

The NSW Government will introduce new legislation to strengthen environmental protection and reform biodiversity offsetting schemes. This includes reforms to the Biodiversity Conservation Act 2016 and the Protection of the Environment Operations Act 1997.

Workforce development

The NSW 2030 Renewable Workforce roundtable brought together stakeholders to discuss the strategies required for the energy transition. This event aims to support local job creation in the renewable energy sector. The recommendations from this roundtable will contribute to the NSW 2030 Renewable Workforce Plan, aimed at providing the skills and training needed to support the energy transition. Current initiatives include $275 million in grants for the Net Zero Manufacturing Initiative and new microskills courses at TAFE NSW.
These investments and initiatives represent a significant step towards a sustainable energy future for NSW, promoting job creation, environmental protection and supporting households in their energy transition.

  • Popular on energynews.pro
Jameson Land in Greenland identified with 13 billion barrels of potential oil
Elogen to deliver electrolyser to RoyalStav and Veolia for project in Slovakia
Norwegian fund generates €88 billion in gains through financial markets
Cypress Creek secures $190mn financing for hybrid solar project in Colorado
Washington temporarily authorises operations linked to Rosneft’s German assets
Bill Gates calls for climate priorities to refocus on human welfare
Bill Gates urges governments and investors to prioritise adaptation to warming effects, advocating for increased funding in health and development across vulnerable countries.
Malaysia strengthens public investment in gas and solar energy
The Malaysian government plans to increase public investment in natural gas and solar energy to reduce coal dependency while ensuring energy cost stability for households and businesses.
Structural imbalances hinder the efficiency of public climate finance
The study by Özlem Onaran and Cem Oyvat highlights structural limits in public climate finance, underscoring the need for closer alignment with social and economic goals to strengthen the efficiency and resilience of public spending.
ExxonMobil sues California to block climate disclosure laws
Oil major ExxonMobil is challenging two California laws requiring disclosure of greenhouse gas emissions and climate risks, arguing that the mandates violate freedom of speech.
Norway prevails at ECHR over offshore oil licensing dispute
The European Court of Human Rights ruled that Norway’s deferral of a climate impact assessment did not breach procedural safeguards under the Convention, upholding the country’s 2016 oil licensing decisions.
Singapore invests heavily in civil nuclear power and regional energy networks
Singapore strengthens its energy strategy through public investments in nuclear, regional electricity interconnections and gas infrastructure to secure its long-term supply.
Gabon invests FCFA560bn to regulate its gradual exit from oil
As oil production declines, Gabon is relying on regulatory reforms and large-scale investments to build a new growth framework focused on local transformation and industrialisation.
Cameroon to exempt biofuel equipment from customs duties starting 2026 to boost the sector
Cameroon will adopt a customs exemption on industrial equipment related to biofuels starting in 2026, as part of its new energy strategy aimed at regulating a still underdeveloped sector.
Bolivia allows private fuel imports to address supply crisis
Facing a persistent fuel shortage and depleted foreign reserves, the Bolivian parliament has passed an exceptional law allowing private actors to import gasoline, diesel and LPG tax-free for three months.
Ghana targets $16 billion in oil revenues despite declining production
Ghana aims to secure $16 billion in oil revenues over ten years, but the continued drop in production raises doubts about the sector’s long-term stability.
Kinshasa and Vingroup sign agreement for major urban and energy project
The government of Kinshasa has signed a memorandum of understanding with Vietnam's Vingroup to develop a 6,300-hectare urban project and modernise mobility through an electric transport network.
Rising electricity demand in Texas reshapes ERCOT’s energy mix
ERCOT’s grid adapts to record electricity consumption by relying on the growth of solar, wind and battery storage to maintain system stability.
France increases CEE funding to over €8bn for 2026
The French government will raise the energy savings certificate budget by 27% in 2026, leveraging more private funds to support thermal renovation and electric mobility.
France: Minister Barbut defends an energy mix combining nuclear and renewables
Facing opposition criticism, Monique Barbut asserts that France’s energy sovereignty relies on a strategy combining civil nuclear power and renewable energy.
Brussels renews push to end daylight saving time over energy inefficiency
The European Commission is reviving efforts to abolish daylight saving time, supported by several member states, as the energy savings from the practice are now considered negligible.
UNEP, EU and Japan frame methane: 12% responses, LNG under pressure
Rising responses to UNEP’s satellite alerts trigger measurement, reporting and verification clauses; the European Union sets import milestones, Japan strengthens liquefied natural gas traceability; operators and steelmakers adjust budgets and contracts.
France: MPs approve stricter electricity price controls in budget committee
The Finance Committee has adopted an amendment to overhaul electricity pricing by removing the planned redistribution mechanism and capping producers' profit margins.
Brussels launches seven measures to reduce energy prices in Europe
The European Commission unveils a seven-point action plan aimed at lowering energy costs, targeting energy-intensive industries and households facing persistently high utility bills.
Energy remains a political priority for the European Union in 2026
The European Commission plans to keep energy at the heart of its 2026 agenda, with several structural reforms targeting market security, governance and simplification.
Takaichi secures the LDP–Ishin axis, pro-nuclear, and eases fuel taxation
The new Liberal Democratic Party (LDP)–Japan Innovation Party (Nippon Ishin no Kai) axis combines a nuclear restart, targeted fuel tax cuts and energy subsidies, with immediate effects on prices and risk reallocations for operators. —

All the latest energy news, all the time

Annual subscription

8.25£/month*

*billed annually at 99£/year for the first year then 149,00£/year ​

Unlimited access - Archives included - Pro invoice

START - 99£/year

Monthly subscription

Unlimited access • Archives included

5.2£/month*
then 14.90£ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.