On 6 October 2020, The Federal Minister for Energy and Emissions Reduction, The Hon. Angus Taylor MP, stated "Our 2020-21 Budget initiatives will help to lock in lower energy prices while simultaneously developing the backbone of a reliable, lower emissions National Electricity Market (NEM) for the next decade and beyond.
"As we rebuild from the COVID-19 pandemic, the Government will also accelerate the development of low emission technologies to help reduce emissions, strengthen energy security and support jobs."
The Energy Industry
Minister Taylor's announcement stated the following initiatives would be implemented in this financial years budget: