Australia's power network needs $72 billion boost

Australia's energy supply industry needs A$100 billion (US$72 billion) in funding over the next five years to help tackle the challenge of reducing greenhouse gas emissions in the midst of the global economic downturn, according to an industry survey.

The Energy Supply Association of Australia (ESAA) survey showed that A$50 billion would be required to refinance existing energy assets. ESAA chief executive Clare Savage said in a statement that the government's proposed Carbon Pollution Reduction