National Energy Guarantee agreement starts to return energy to bipartisan policy

Today’s significant bipartisan agreement on progressing the National Energy Guarantee is an important step towards a return to bipartisan energy policy in Australia, the energy industry said.

The Australian Energy Council’s Chief Executive Matthew Warren said “today’s agreement by the Council of Australian Government (COAG) Energy Council is a critical step towards ending more than a decade of destructive political point scoring on energy policy.

“The hard work now is to complete the detailed design and implementation of the NEG so it is ready for final sign off in August.  

“Importantly, energy ministers today demonstrated they were willing to work together to deliver this important national reform - to finally unite climate and energy policy.

“It is crucial to complete this reform to deliver the reliable, affordable and sustainable energy system that will underpin the Australian economy in the 21st century.”

Mr Warren said today’s decision would instil greater confidence in investors and businesses looking to build new energy assets in Australia.

“Political agreement drives investor confidence, more capacity, more reliability and lower prices.  Today’s agreement is an important injection of confidence that we can solve future challenges.”

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