Funding boost for energy regulator - Breaking News - National - Breaking News

The Australian Energy Regulator will get a $75 million funding boost and an extra 52 staff.

Treasurer Peter Costello announced the regulator - which oversees the operation of Australia's energy pricing system - would get the extra funding to it continue its existing functions and additional roles.

The regulator was created last year, in an effort to replace the various state energy regulators and bring efficiency to the overall energy market.

Mr Costello said with the regulator to take responsibility for most jurisdictions for the regulation of gas and energy distribution from the start of 2007, and to take over energy retailing from 2008, the regulator needed the extra cash.

The $75 million will be spread over four years. It will help cover an additional 52 staff due to be employed next financial year.

© 2006 AAP