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Business renews calls for bipartisan national solution to energy crisis
10 Oct 2018 | Archive
A holistic, bipartisan and national approach is essential to resolving Australia’s energy issues, Australia’s largest and most representative business network, the Australian Chamber of Commerce and Industry, said today.
“Business needs both major parties, and state and territory governments, to rise above short-term politics and ideology to resolve the increasing energy challenges faced by business and the communities we serve,” Australian Chamber CEO, James Pearson, said today in response to addresses from Minister Taylor and Shadow Minister Butler at the AFR National Energy Summit today.
“The Australian Chamber believes the way forward is an approach that welds short-term measures to cut power costs proposed by the ACCC, together with long-term measures under the National Energy Guarantee (NEG). In other words, a “NEG Plus” solution.
“NEG Plus would see prices down in the short term, plus longer-term measures to deliver greater reliability while staying on track to meet our national emissions reductions targets.
“We welcome Energy Minister Taylor’s clear-cut commitment to get energy prices down and address reliability.
“But more needs to be done to give business the certainty it needs to invest in new energy supply with confidence.
“Without that investment from business, the laws of supply and demand mean that in the medium to long-term, electricity costs will rise and reliability will be threatened. And the confusing market signals sent by states and territories each going their own way on energy policy will only make that worse.
“The issues of cost, reliability and emission reductions are closely linked and are best addressed in a national approach that brings energy policymakers, regulators and industry together to deliver a solution that long-suffering business and households desperately need.”