Energy policy and new government-led investments in the state’s energy infrastructure could make-or-break it’s two AAA credit ratings, analysts say.
A stalling renewable energy transition could put NSW’s remaining two AAA credit ratings at risk, warn analysts who say costly interventions such as a plan to keep theAs NSW Treasurer Daniel Mookhey prepares to hand down his first budget on Tuesday, ratings analysts say the Minns government’s energy policy, investments in the renewables pipeline and theThe NSW government says it will talk to Origin about keeping the Eraring power station open longer.
The NSW government said last week it would begin talks with owner Origin Energy about keeping Eraring open longer, after a report found energy prices could spike and supply would be more unreliable if it is switched off before a lot more renewables come online.
“NSW already has a large capital works program and so if [new energy investment] is within that envelope it would be neutral to the credit rating,” Mr Walker said. Analysts are also grappling with the prospective impact of the NSW government’s decision to scrap a public sector wage cap in favour of individual agreements, with public sector wages making up just under 50 per cent of the government’s total operating expenses.
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