The ability of the Federal Government’s proposed National Energy Guarantee to gain COAG and bipartisan support will be a key to ensuring investor certainty and encouraging necessary investment, the energy industry said today.
Australian Energy Council Chief Executive, Matthew Warren, said the plan was a considered attempt to address the issues of reliability, cost and emission reductions from energy.
“The key factor that will decide the success or otherwise of this proposal will be whether it can achieve the necessary bipartisanship and COAG endorsement.
“Without that we won’t achieve policy stability and we will continue to see the investment uncertainty that has occurred over the past decade in the energy sector.
“We will look closely at the proposal. The guarantee will impose additional requirements on electricity retailers and generators, which need careful consideration.
“We look forward to the opportunity to work with the independent market bodies on the National Energy Guarantee’s detailed design to ensure it can be effectively implemented.”
About the Australian Energy Council
The Council represents 21 major electricity and downstream natural gas businesses operating in competitive wholesale and retail energy markets. These businesses collectively generate the overwhelming majority of electricity in Australia and sell gas and electricity to over 10 million homes and businesses.
The Australian Energy Council has welcomed the release of the Energy Security Board's options paper,which is the result of a substantial consultation process.
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