Australia will need $240 billion of investment in its gas and electricity industries over the next two decades to ensure a reliable supply, a draft federal government white paper says.
The paper, which flags further privatisation of energy assets and the removal of retail price regulation, sets out a plan for the government to follow in maintaining energy security and economic growth.
Releasing the draft in Melbourne on Tuesday, Energy Minister Martin Ferguson said it highlighted the need for sound regulation and investor confidence in Australia's energy industries.
Central among these were the generation, transmission and distribution of gas and electricity.
The draft paper also says the government should include the acceleration of clean energy measures among its four priorities for the energy industry.
The others are the strengthening of a policy framework, reinvigorating market reform and developing critical resources, especially gas.
The Sydney Morning Herald
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