A national and bi-partisan Clean Energy Target (CET) remains the key reform to drive new investment and bring down electricity prices, the energy industry said today.
The Australian Energy Council (AEC) today welcomed the Council of Australian Government’s (COAG) Energy Council’s adoption of 49 of the 50 recommendations from the Finkel Review and direction by some states of more detailed work on the design of a CET.
Australian Energy Council Chief Executive, Matthew Warren, said that “While that more detailed work on a CET is valuable, the essential element to overcoming our current energy crisis remains brokering a national, bipartisan agreement on the full package of reforms.
“Energy prices are unsustainable and the reliability of the electricity system is deteriorating. The Finkel Review has provided a workable blueprint to address those issues whilst meeting our international emissions reductions commitments.
“We acknowledge that the Federal Government is still considering the CET. Successful reform and lower energy bills will only come from bipartisan support and national implementation. Investment behind this reform will run for decades, so we need to find broad and enduring agreement to give it the confidence to proceed.
“After more than a decade of policy frustration, Australia has arrived at a tipping point on energy policy. Commitment to a national CET is critical if we are to bring down energy costs, increase reliability and build a lower emissions grid.
“The time for playing politics with energy policy is over. The future of the Australian economy is at stake.”
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.
Media contact Carl Kitchen 0401 691 342
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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