In 2019 the former COAG Energy Council approved a Strategic Energy Plan for the National Electricity Market (NEM). This Plan built on the recommendations in the 2017 Finkel Review covering the transition in the NEM from large scale thermal generation (mainly coal fired) towards a mix of large and small scale renewable generation, (mainly wind and solar) supported by storage and existing generation. The Strategic Energy Plan has six objectives to be met as the market transforms:

1. Affordable energy and satisfied consumers;
2. a secure electricity and gas system;
3. reliable and low emissions electricity and gas supply;
4. effective development of open and competitive markets;
5. efficient and timely investment in networks; and finally
6. strong but agile governance.

In this report, the Energy Security Board assesses progress against these objectives and considers the future outlook.