EUAA welcomes National Reconstruction Fund support

Australian Prime Minister Anthony Albanese at lectern (vietnam)
Australian Prime Minister Anthony Albanese

The Energy Users’ Association of Australia (EUAA) has welcomed news that the government, with support from the Greens, has ensured the National Reconstruction Fund (NRF) legislation will pass.

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The Albanese government yesterday agreed to the Greens’ provision to ban the National Reconstruction Fund from direct investment in coal, gas and native logging.

The deal secured the passage of the National Reconstruction Fund bill and gives Labor a likely pathway to pass it in the Senate with the support of the Greens and crossbenchers later this month.

“The National Reconstruction Fund is a great start to a long-term decarbonisation journey for our heavy industry,” EUAA CEO Andrew Richards said.

“It will also greatly assist in building sovereign supply chain capability and resilience to ensure that the transition to a renewable energy grid is as ‘home grown’ as possible.”

The National Reconstruction Fund is being lauded by the government as being one of the largest peacetime injections of funding into manufacturing that Australia has ever seen, and is part of the government’s suit of activities in the race to decarbonise the economy and support jobs growth.

“We agree with Minister Husic that our country should make things, and while there is still lots more to be done, this is a great start.”

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The EUAA is the peak body representing Australian industrial and commercial energy users.

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