00:00Predominantly, the continued investment in renewable energy and storage that have been
00:07coming onto the grid, a little bit to do with the life extension of a coal-fired power station
00:13in New South Wales, I guess the commitment of some more transmission that's become much
00:20more certain, and possibly a slightly lower demand outlook have all contributed to a stronger
00:28reliability outlook for the 10-year period. It is, though, a reminder that these coal-fired
00:36power stations, they're old, they are retiring. In fact, a third of today's coal-fired power
00:43stations have told us that they are retiring in the 10-year period. So it is absolutely
00:47critical that the investment in new generation and storage and transmission is delivered
00:52on time and in full. Well, what we know is that Australia's grid,
00:57which is around about 64 gigawatts of generation, has a very strong pipeline of future projects
01:03that are ready and able to be delivered. Now, what needs to happen for those projects to
01:09be delivered is that they have to take investment decisions, buy their kit and construct the
01:15projects and connect them into the grid. That pipeline of projects is around four times
01:20the current size of the grid. So the projects are there, they do just need to be delivered.
01:26Now, Australia is going through an energy transition because our coal-fired power stations
01:31are retiring, and energy demand is growing as we electrify parts of our economy. We're
01:36not the only country in the world who's going through this, so there are global challenges,
01:41but it's a real call to action for each of us and for investors and for governments to
01:46lean in and really get confidence in the delivery of the projects, which are critical.
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