Anthony Albanese labels NSW energy deal ‘one of the biggest announcements’ he’ll make in office

Deal to connect Snowy 2.0 and renewable zones was struck in return for support for coal price cap

Anthony Albanese has labelled the federal government’s $5bn spend on the Snowy Hydro 2.0 project in New South Wales as one of the most significant announcements he will make as prime minister.

On Wednesday Albanese and Dominic Perrottet formally announced the almost $8bn joint-funding deal with the NSW government on poles and wires to connect the Snowy scheme to the electricity grid.

Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup