The Australian Energy Council is the peak industry body for electricity and downstream natural gas businesses operating in the competitive wholesale and retail energy markets. AEC members generate and sell energy to 10 million homes and businesses and are major investors in renewable energy generation. The AEC supports reaching net-zero by 2050 as well as a 55 per cent emissions reduction target by 2035 and is committed to delivering the energy transition for the benefit of consumers.
“ To represent our industry to deliver the energy transition for the long-term benefit of consumers and the community.”
Australia's energy system is undergoing a rapid transformation to a lower emissions future. This is a positive journey, but our electricity system is complex and fragile, which presents challenges.
The AEC has developed the interactive Dashboard below to illustrate the elements of the energy market's ecosystem that are at play in the transition. The Dashboard also illustrates the interconnectedness of the energy market.
While no aspect is more important than another, it shows that massive and rapid changes to generation sources have implications – a change will impact other parts of the energy system.
The Dashboard has security, affordability and sustainability as the core pillars of the industry that require support. This reflects the fact that these are the critical focal points of the industry and its stakeholders as we seek to deliver an energy market that results in the best outcomes for consumers.
These three pillars on the Dashboard are surrounded by identified policy areas and challenges that are evolving and in play, which also require consideration and policy focus during the transition.
The retirement of baseload generation plant to be proactively managed through the lenses of reliability, sustainability and affordability.
Educating the community that all generation sources come with costs, benefits and system implications.
The expansion of networks, where required, to deliver the transition.
Investor confidence to be maintained for those exiting and proposing to enter Australia’s energy industry.
A technology neutral approach to energy market solutions to be adopted along with ongoing investment in the technologies which will assist Australia in achieving its emissions reduction goals into the future.
Where possible, a national and consistent approach to these policy challenges to enable efficient, least cost solutions to be implemented.
Reliability, sustainability and affordability to be maintained in balance for the benefit of Australian consumers.
The AEC is committed to action which enables Australia’s achievement of Net Zero emissions by 2050, and supports the adoption of an interim emissions reduction target of 55 per cent on 2005 levels by 2035.
Electricity will play a major role in assisting sectors outside energy to reduce their emissions. The AEC will collaborate with other sector representatives to further the electrification of more sectors of the economy.
The energy sector recognises the central role it plays in supporting the jobs and livelihoods of Australians. It is critical to the health of Australia’s economy that it can draw on reliable, sustainable and affordable energy to operate for the benefit of the nation and its homes and businesses.
The AEC supports sensible, staged policy frameworks which enable all sectors of the economy to contribute to a lower emissions future.
The AEC will support and advocate for policy frameworks that enable Australia to move towards its emissions reduction goals while preserving low-cost & reliability benefits for consumers & the community.
Between now and 2050 the energy sector, represented by the AEC, will support the development of policy frameworks at all levels of government which enable:
The AEC will use its expertise to:
• Anticipate the challenges ahead.
• Educate stakeholders and the public about the implications of different decisions
regarding Australia’s energy future.
• Collaborate with stakeholders across energy and the economy to support broader
contributions to emissions reduction and promote the role electricity can play in
achieving these goals.
• Clearly communicate the work AEC members are doing to reach Australia’s low
emissions future and boost Australia’s economic resilience.
The AEC and its members are aware of the challenges ahead and are committed to advocating for policies and decisions that support progress towards Net Zero by 2050, without compromising on reliability, sustainability and affordability.
The download the full Statement of Strategic Intent here.
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