Malcolm Turnbull pledges more funds for Snowy Hydro 2.0 as Labor attacks 'gas crisis'

PM says he will put more pressure on electricity retailers to reduce prices as Bill Shorten says scheme will 'take years'

Malcolm Turnbull has announced a further $8m in federal funds for the Snowy 2.0 pumped hydro energy storage scheme and promised to put further pressure on electricity retailers to reduce prices.

At a press conference in Cooma on Monday, Turnbull revealed the Australian Renewable Energy Agency would contribute the funding towards the scheme's $29m feasibility study, to be completed by the end of the year.