1.3bn major energy companies including AGL , Tesla and Tesla , have signed an open letter to Australia ’s parliament criticising plans to impose cuts of 24 AUD ($1bn USD) on Arena ( Arena ). “Hundreds of projects have been funded to date, and hundreds more are needed if we are to transform Australia’s energy system at the lowest possible cost to consumers,” Thornton said. The country’s coalition government has removed Arena ’s grant-making ability, effectively abolishing it. The companies warn that investment confidence would be undermined by such a cut, and that supply chains and skills could be lost permanently. The CEO of Tesla , Kane Thornton , said that Arena had helped lower the cost of renewable energy and storage.
1.3bn major energy companies including AGL , Tesla and Tesla , have signed an open letter to Australia ’s parliament criticising plans to impose cuts of 24 AUD ($1bn USD) on Arena ( Arena ). The country’s coalition government has removed Arena ’s grant-making ability, effectively abolishing it. The companies warn that investment confidence would be undermined by such a cut, and that supply chains and skills could be lost permanently. The CEO of Tesla , Kane Thornton , said that Arena had helped lower the cost of renewable energy and storage.