Support the supply of cheap, clean and reliable energy across Australia.
The Government will provide $80.0 million over 4 years from 2023-24 (and $11.1 million per year ongoing) to support the supply of cheap, clean and reliable energy across Australia. Funding includes: * $35.6 million over 4 years from 2023-24 (and $8.8 million per year ongoing) to the Australian Energy Regulator (AER) to continue compliance and enforcement activities to regulate and monitor energy markets * $28.4 million over 4 years from 2023-24 to support the delivery of new cross-government energy market reforms and national energy projects as directed by Energy Ministers through the Energy Special Account * $10.9 million over 4 years from 2023-24 (and $2.4 million per year ongoing) to the AER for new legislated functions that will support Australia's energy transformation and reduce emissions. The Government will also increase resilience in the retail electricity sector by progressing work with Snowy Hydro Limited to register in the Retailer of Last Resort scheme. Climate Change, Energy, the Environment and Water | The cost of this measure will be partially met from savings identified in the 2023-24 Budget measure titled Climate Change, Energy, the Environment and Water - reprioritisation. This measure builds on the 2022-23 October Budget measure titled Support for the Australian Energy Regulator to Implement Regulatory Changes.