The new Government has poured cold water on the proposed Lake Onslow pumped hydro scheme.

The hydro-lake development was proposed by the previous Government, as a backup renewable energy reservoir.

Energy Minister Simeon Brown has announced they're pulling the plug on the project, because it was pouring money down the drain at a time when we need to be reining in spending.

"We actually think the market can deliver this, rather than the Government having to step in and do it themselves with taxpayers' money."

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