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State energy ministers meet this week to discuss the National Energy Guarantee. While the policy has been criticised as too modest, it would put us light years ahead of the previous climate policy paralysis.
The Energy Security Board (ESB) has provided advice to ministers on reliability, affordability and meeting Australia's international commitments. This comes in response to the Australian Energy Market Operator’s recent report on the risks to reliability in the electricity market.
This audit shows current policies will reduce National Electricity Market (NEM) emissions to 22% below 2005 levels in 2019-20, effectively meaning electricity sector has an emissions reduction target of only 4% to 2030.
Central to the public debate about the National Energy Guarantee (NEG) has been the numerical forecasts of its effects – in particular how much it will reduce power prices.
The final design of the National Energy Guarantee promises that the policy will drive down power prices. But there is precious little evidence for this assertion.
If the government offers Labor a deal it can accept, it will be rejected by the Coalition’s backbench. It’s hard to escape the obvious conclusion.
This audit shows that current NEG modelling will effectively create an investment cliff for the otherwise booming renewables sector, with no investment in further renewable energy generation after 2021.
The first public consultation paper for the National Energy Guarantee has been released by the independent Energy Security Board. The guarantee’s intention is to deliver more reliable, affordable and cleaner energy to Australian consumers.
The Australian Energy Market Commission (AEMC) is calling for submissions on how to change regulatory frameworks to help deliver long-term electricity reliability at least cost to consumers.
This briefing paper summarises key concerns from the Climate Council, and raised by other stakeholders, about the federal government’s proposed National Energy Guarantee (NEG).