The Finocchiaro CLP Government will scrap the former Labor government's unachievable target of 50% renewable energy generation by 2030.
Years of inaction, lack of coordinated infrastructure investment, rising power prices, and grid instability under the previous Labor government has made it clear that attempting to meet this target would put an unacceptable financial burden on Territorians and crippling pressure on our aging electricity network.
Minister for Mining and Energy and Minister for Renewables, Gerard Maley, said the CLP Government was taking a responsible and pragmatic long-term approach to energy reform, guided by three key strategic priorities: affordability, security and reliability.
"Today I will deliver a Ministerial Statement outlining our government's plan to secure the Northern Territory's energy future," said Mr Maley.
"Our government has promised 2025 will be a year of action, certainty and security, and that's what these changes will deliver."
After eight years of Labor and their 50% renewables target, renewables in 2024 accounted for less than 20% of the Territory's energy generation.
Achieving Labor's 50% renewable target by 2030 is now estimated to cost up to $5 billion, which equates to $56,000 per Jacana household.
"If we don't make these changes, Territorians would be paying the highest power prices in the country," said Mr Maley.
"We are taking decisive action to secure the Territory's energy future by developing vital reforms to improve grid reliability, lower costs, and ensure a stable and well-managed energy transition."
To protect households and businesses, the CLP Government has responsibly capped retail electricity prices to 3%, benefiting around 85,000 households and small-to-medium businesses.
Other measures include:
Strategic investment in energy infrastructure to address forecasted energy supply shortfalls;Expansion of large-scale solar and battery storage to reduce the cost of supply whilst maintaining grid stability; andDevelopment of the Beetaloo Sub-basin to provide an abundant and reliable source of gas to underpin our energy security and economic growth.
"Our focus is on delivering an affordable, reliable, and secure energy system that meets the needs of families, businesses, and industry - now and into the future," said Mr Maley.
"That means balancing renewables with gas to optimise grid stability, drive down costs, and ensure supply security.
"If we continue with Labor's reckless pursuit of a 50% renewable energy target by 2030 without the necessary investment and planning, it won't just be an ideological issue-it will require substantial infrastructure upgrades that will lead to higher electricity costs, an increased risk of blackouts, and greater instability across the electricity network.
"We are taking responsible action to stabilise the grid while ensuring renewables can expand in a way that benefits Territorians.
"Our approach ensures a stable, affordable, and prosperous energy future for Territorians - without sacrificing reliability or driving up costs."
