Further progress on the NEG welcomed

The Australian Energy Council (AEC) welcomed the further progress of the National Energy Guarantee (NEG) with the backing of the Coalition party room.

The Australian Energy Council Chief Executive, Sarah McNamara, said that it was encouraged by the strong support for the NEG in yesterday’s meeting. 

“Consultation on the proposed legislative changes can now begin. Whilst that is underway we urge energy ministers to end more than a decade of policy paralysis by considering the NEG in good faith. The sooner it can be put in place the sooner we can manage Australia’s energy challenges.

“The final design of the NEG addresses the ongoing need to provide a framework for investment certainty to resolve the trilemma of prices, reliability and emissions.

“Political debates about Australia’s emissions reduction targets must not derail the implementation of the NEG framework.  A national, bipartisan agreement on the guarantee is essential to its success.

“Australian households and businesses deserve an energy market that can bring down prices, keep the lights on and meet our climate change commitments. The NEG will enable us to address these challenges.  It deserves the ongoing support of all energy ministers and the Federal Parliament.”

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.