- Cook Labor Government to put downward pressure on electricity prices with Plan for Affordable Energy
- Plan backed by modelling showing if government does not take action, industrial electricity costs could rise by 89 per cent
- Initiatives include Renewable Energy Target of 75 per cent by 2030-31 and recently launched $150 million Made in WA Energy Affordability Investment Program
The Cook Labor Government has released its Plan for Affordable Energy, outlining how it will deliver affordable, reliable, and lower-carbon energy for business while supporting jobs, investment, and economic growth.
Developed in response to industry feedback from the government’s Productivity Roundtable, the plan tackles the growing cost pressures facing Western Australia from ageing coal-fired power stations and changing energy markets.
It also responds to calls from an alliance of industry, investors, unions, and advocacy bodies for a strong Renewable Energy Target as a signal of the State’s intent. Investor groups have indicated a target will help mobilise private sector investment in the projects needed to unlock new sources of affordable energy.
The plan is centred on delivering more renewable energy, backed by battery storage and flexible WA gas, to lower energy costs, strengthen the State’s competitiveness, and support the industries and jobs of the future.
A key initiative is the $150 million Made in WA Energy Affordability Investment Program, which is open for applications from today and will provide low-interest loans of up to $15 million to help manufacturers install solar and battery systems and upgrade equipment to take advantage of cheaper energy.
The plan also includes:
- a target of 75 per cent renewable energy generation on the South West Interconnected System by the 2030-31 financial year;
- ongoing support for household solar, batteries, and electric vehicles;
- continued support for WA’s domestic gas reservation policy and a future gas security strategy; and
- transitional measures to ensure consumers do not overpay for reserve capacity.
Modelling undertaken by the Department of Energy and Economic Diversification and assured by Boston Consulting Group demonstrates that without the initiatives outlined, energy prices paid by industry could increase by 89 per cent by 2032.
The Cook Labor Government is already delivering WA’s energy transition, having increased renewables from 14 per cent of the State’s energy mix in 2017 to 40 per cent in 2025, invested $2.5 billion in Clean Energy Link transmission infrastructure, and delivered more than 1,400 megawatts of grid-scale battery storage.
As WA progresses the retirement of State-owned coal-fired power generation by 2030, the plan will help avoid the increasing costs associated with operating ageing coal assets while ensuring households and businesses continue to have access to affordable and reliable power.
As stated by Premier Roger Cook:
“Every Western Australian with rooftop solar knows that renewable energy is the cheapest form of energy.
“Our Plan for Affordable Energy is about getting more renewables onto the grid, so that all Western Australians can benefit from secure, more affordable energy.
“Our plan is about delivering affordable, reliable, Made in WA energy that will power the next generation of economic growth and job creation.
“By delivering more renewable energy backed by battery storage and flexible WA gas, we’re building a State of Energy and putting downward pressure on power prices.
“In addition to getting more renewables into the system for the long-term, my government is building on our Residential Battery Scheme by providing low-interest loans to WA manufacturing businesses, so they can access solar, batteries, and energy-efficient equipment to keep their energy costs down in the meantime.
“Keeping energy affordable for WA manufacturers is about creating WA manufacturing jobs, but it is also about making WA-made goods including food more affordable and helping WA families with the cost of living.”
As stated by Energy and Decarbonisation Minister Amber-Jade Sanderson:
“Our Plan for Affordable Energy is about backing WA jobs and WA businesses.
“We know that renewables, backed by storage and gas, is the cheapest and most reliable energy mix for Western Australia.
“That’s why we’re powering ahead with our support for the energy opportunities of the future and encouraging businesses to invest in WA.”
