Tuesday, 22 September 2026

 Bev McARTHUR (Western Victoria) (14:29): (1487) My question is to the Minister for Energy and Resources. AusNet is controlled by Brookfield Asset Management. On 6 March 2026 a Brookfield fund filed its annual report with the US Securities and Exchange Commission. It described the Western Renewables Link as a A$4 billion project and stated:

AusNet finalized the commercial framework with the Victorian Government and executed a binding construction contract for WRL …

Minister, does the government accept Brookfield’s description of the Western Renewables Link as an approximately $4 billion project – yes or no?

 Jaclyn SYMES (Northern Victoria – Minister for Energy and Resources, Minister for Environment, Minister for Climate Action, Minister for the State Electricity Commission) (14:29): I thank Mrs McArthur for her question. Mrs McArthur, as per my answer to Mr Davis’s question, in relation to the government’s position we are undertaking a cost assessment to provide transparency to Victorians. We want to ensure that we have up-to-date independent information about the cost of this project. At this point in time, procurement has commenced, and as I have indicated in my answer, this is a cost assessment that will demonstrate the true cost of this project. But what we already know is that we cannot afford not to build transmission.

 Bev McARTHUR (Western Victoria) (14:30): Well, Minister, you failed to answer the question. On 18 May, more than two months after the $4 billion Securities and Exchange Commission disclosure, PAEC asked your predecessor to provide updated advice on total estimated investment costs for WRL. She replied, ‘Absolutely,’ acknowledging those costs end up on bills. Yet on 27 May your government responded in writing with only a $1.53 billion construction estimate and a $1.6 billion construction contract. If Brookfield’s $4 billion figure is wrong, will you unequivocally state today that the government’s total investment cost for WRL remains at $1.53 billion?

 Jaclyn SYMES (Northern Victoria – Minister for Energy and Resources, Minister for Environment, Minister for Climate Action, Minister for the State Electricity Commission) (14:31): I thank Mrs McArthur for her question, and what I take from your question is a full endorsement of an independent cost review, which we have commenced.