The Prime Minister, Julia Gillard, today announced the signing of the Smart Grid, Smart City project funding agreement.
This agreement delivers on the Australian Government's commitment of up to $100 million in funding to develop, in partnership with the energy sector, Australia's first commercial scale-smart grid.
The Smart Grid, Smart City demonstration project is an important step toward improving our energy efficiency and revolutionising Australia's energy network for the 21st century.
It is an integral part of the Government's plan to address the challenges of climate change. It is also an important part of the Government's record $10 billion commitment to support energy efficiency, renewables and other low pollution energy technologies.
Smart grids use advanced information and communications technology that allow energy providers to better manage and maintain our electricity network and provide Australian householders with information to more effectively use energy at home.
This will mean improved energy efficiency and improvements in the way households use electricity to help to reduce cost of living pressures for Australian families.
The Smart Grid, Smart City project will help industry address the challenges of growth in peak electricity demand placing a strain on ageing assets.
Lead partner EnergyAustralia will work with industry and community consortium partners including AGL Energy, IBM Australia, GE Energy Australia, Sydney Water, Hunter Water Australia and the Newcastle City Council to deliver the project.
The focal point of the demonstration will be in Newcastle though smaller trial elements will be undertaken in Newington, the Sydney CBD, Ku-ring-gai and the rural township of Scone.
Importantly the Smart Grid, Smart City project will keep Australia at the forefront of energy technology.