The Greens have proposed a $40 billion renationalisation of Australia’s energy sector.

The current federal government is trying to clear the way for private sector investment in gas, pumped hydro and other power sources to stabilise Australia’s electricity grid as coal exits the system.

However, the Greens want to convert Snowy Hydro to a not-for-profit, renewables-only generator and retailer. It means Snowy Hydro would sell electricity at cost price to consumers.

Their proposal includes phasing out coal and gas-powered plants by 2030, while saving money by reversing a $600 million investment in the Kurri Kurri gas plant in the Hunter Valley.

The Greens' plan would wipe out some energy retailers and generators from the market.

The Labor Party has put forth a $20 billion “Rewiring the Nation” policy, which includes money to upgrade electricity infrastructure for new power and battery sources.

Labor says gas still has a role as the electricity system transitions from coal to renewable resources, but the Greens want to eliminate both coal and gas-fired power by the end of the decade.