New energy policy right to prioritise power prices; more to be done on reliability and emissions

30 Aug 2018 |

Australia’s largest and most representative business lobby group, the Australian Chamber of Commerce and Industry, welcomes Energy Minister Taylor’s clear commitment to cut power costs and make sure the lights stay on; and calls for policies that will encourage investment in the energy sector to address reliability issues and meet Australia’s emissions reduction commitments.

“We welcome the new Energy Minister’s commitment and sense of urgency to cut energy costs by implementing some recommendations of the Australian Competition and Consumer Commission, and his expressed need for care when advocating government intervention. But the need for long-term and consistent policy to encourage investment and deliver increased reliability, while meeting our emissions reduction commitments, is as pressing today as it was before the leadership of the government changed last week,” Australian Chamber CEO, James Pearson, said today.

“We urge the government to match its refreshing vigour to drive prices down with a thoughtful adoption of the key elements of the National Energy Guarantee. Putting these pieces of the puzzle together offers a more complete solution to the energy crisis, that matches the need for short-term cost reduction, with the need for increased reliability and a medium-term strategy on emissions reduction to provide investment certainty.

“Energy is a complex and contentious policy area. The NEG has broad business and community support. Add it to the ACCC recommendations, including those announced by Minister Taylor today, and the government will have an energy plan that deserves bipartisan support.

“For energy policy to deliver lower prices and investment certainty, it must attract bipartisan support at the national, state and territory level. That is the way to end the energy wars in a way that supports industry, in every state and territory, to succeed.

“The NEG offers a flexible framework that provides states and territories with the capacity for compromise. It embraces the goals of lower energy costs and lower emissions, as well as increased reliability of our power supply. It aims for sustainable outcomes and is technology neutral. And the ACCC recommendations provide sharp teeth.

“We encourage Minister Taylor and Environment Minister Price to work with business, the states and territories, and the Opposition to deliver practical short and long-term solutions to Australia’s energy crisis.”

Duncan Bremner

Director - Public Affairs and Advocacy

P  |  0448 822 666

E  |  [email protected]

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