The New South Wales opposition has promised to allocate $1 billion to a new state-run energy body if it is elected on March 25.
Labor made the announcement on Sunday, saying the new Energy Security Corporation (ESC) would drive investment into renewables to ensure services "when the sun doesn't shine or the wind doesn't blow".
The ESC will partner with companies to develop renewable projects such as community batteries and energy storage through pumped hydro.
It will be made possible with money from the Restart NSW fund, which was established in 2011 and uses money from the privatisation of public assets to reinvest in state infrastructure.
Opposition Leader Chris Minns said the government had not "done enough" to help combat rising energy bills and the ESC would "help fill the gap" as the state transitioned to renewable energy.
"The state is facing big challenges as we manage our energy transition over the next decade," Mr Minns said.
"This is not a bandaid solution. Whilst it will take time for the benefits to be realised, this is a serious, long-term step towards fixing the mess left by the Liberal/National government."
NSW began selling off its majority stake in energy assets in the early 2000s.
That included the 100 per cent sale of electricity provider Transgrid in 2015, a move which earned the Coalition government at the time $10.27 billion.
Under the deal, Transgrid would be a private company for 99 years.
On Saturday during campaigning, Energy Minister Matt Kean announced a further $323 million towards developing more renewable energy projects such as grid batteries and pumped hydro.
Some of that money will go towards installing rooftop solar panels and small-scale batteries.
It is part of the Coalition's $1.5 billion Clean Energy Superpower Fund, which Mr Kean said could save households up to $600 a year on power bills.
"We need to get our hands on every single electron possible to put downward pressure on electricity prices, and that's exactly what this policy will do on that," he said.
Mr Minns said that announcement was not a new investment.
"It's not part of a comprehensive plan to fix and deal with the complicated issues with energy in the state's future," he said.
On Sunday, Mr Kean criticised Labor's announcement, saying it contradicted the opposition leader's previous remarks about bringing energy supply into public hands.
"Far from his promise to publicly own electricity assets, Chris Minns has now put $1 billion on the table to finance privately owned projects," he said.
Mr Kean said the $1 billion fund was a "drop in the ocean" of the $32 billion privately invested in NSW's energy network.
Private company EnergyAustralia said it welcomed both party's plans.
"We welcome initiatives … that support the private sector's role in the clean-energy transition, including policy initiatives that encourage collaboration and partnerships that help solve challenges with renewable and long-duration storage projects."
The Clean Energy Council said the market for renewables was intensifying and it would be up to whoever won the election to capitalise on it.
"If we don't act quickly, Australia risks missing out on the early-mover advantages," council chief executive Kane Thornton said.
"All investment, whether public or private, in Australia's renewable energy sector is a welcome contribution."
