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Aug 19 2020

Energy Security Board reappointments welcomed

The reappointment of the Energy Security Board’s Chair and Deputy Chair to oversee the conclusion of its work on the post-2025 electricity market re-design is very welcome, the Australian Energy Council said today.

The Australian Energy Council’s Chief Executive, Sarah McNamara, said the continuity created by the reappointment of Dr Kerry Schott and David Swift will be important to enable the ESB to continue its work effectively and efficiently.

“Our members acknowledge the professionalism and expertise that Dr Schott and her team bring to their important work on energy market redesign.

“The ESB was created as a recommendation of the Finkel Review in 2017. Its major focus has been to consider options for the design of the NEM post-2025.  It was always intended to have a finite timeframe.

“Over time the ESB has been given additional tasks, such as reviewing the Reliability Standard, at the request of State and Federal Ministers and often under extremely tight timeframes.

“With significant pressure for ongoing market changes and reforms it is important that reforms are carefully coordinated. Currently, the ESB, the Australian Energy Market Commission, the Australian Energy Market Operator and the Australian Energy Regulator are all playing active roles in reform.

“Whilst an increased level of regulatory change is inevitable at a time of major industry transition, it does create its own risks and costs. Costs are ultimately borne by consumers, so ensuring the ESB’s remit is tightly focused on its current projects is vital.

“The ongoing leadership of Dr Schott and David Swift will be key to achieving positive results for the market and consumers,” Ms McNamara said.

About the Australian Energy Council

The Council represents 22 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.

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