​Minister of Energy Kerrie Symmonds has announced new steps to modernise the regulatory framework governing the Fair Trading Commission (FTC) in a bid to speed up decisions on hundreds of millions of dollars in renewable energy projects, while still protecting consumers.​

Speaking at the State of the Energy Sector national conversation, Symmonds said the government wants to reform the current regulatory system to make decisions faster, clearer and more predictable.​

The minister said that structural delays within the existing system have contributed to an estimated half a billion dollars in potential energy investments being tied up in local banks.