Reforms to the energy market must be properly considered, the energy industry said today.
The Australian Energy Council Chief Executive, Sarah McNamara, said that calls for substantial changes to energy market arrangements risked poor outcomes for consumers.
“The industry stands ready to engage with the Government in good faith on the extensive range of recommendations made by the ACCC to improve customer outcomes.
“The devil is in the detail and there are no quick fixes. Major reform proposals should not be supported by Government without consultation.
“There is price relief in sight for Australian households and businesses. Price changes on 1 July reflected improvements in the wholesale market price.
“There is more work to do to help customers, and much of it is underway. But the industry badly needs a national climate and energy policy to guide its investment into the future and continue to bring down prices. The National Energy Guarantee must remain the focus.”
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 welcomes the release of the Energy Security Board's advice to Energy Ministers, and in particular its call for coordination and a common approach by jurisdictions but notes there is still much work to be done on the detail.
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