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Watershed reform to align energy market and climate goals

Australia's energy market, its institutions and governance are now aligned to deliver Australia's climate change targets.

"The clean energy industry applauds today's decision by energy ministers to reform the National Electricity Objective and to commence work on a National Energy Transformation Partnership," said Clean Energy Council Chief Executive, Kane Thornton.

This decision is a critical step forward and will ensure the future priorities and reform of the Australian energy market recognise the need to reduce emissions and more actively manage the transition to clean energy.

"Today, we're seeing a clean, green light for low-cost renewable energy from hydro, solar, wind and storage to become the dominant source of Australia's energy needs through an orderly transition away from costly, dirty and failing fossil fuel sources," said Thornton. "These decisions provide clean energy investors further confidence and certainty missing through years of inaction and neglect.

"The message could not be more explicit – Australia's governments are united in accelerating reform to deliver a clean energy future.

"The clean energy industry has been calling for this reform for more than 15 years. This decision, combined with the clear unity and collaboration of energy ministers across the country, heralds a new and exciting chapter of leadership for Australia."

Ministers have also recognised the concerns raised by the clean energy industry that the proposed capacity mechanism presents some material risks to the business case and market confidence for new investment.

The Clean Energy Council welcomes the ministers' direction to officials to propose options for a framework that delivers adequate capacity, ensures orderly transition, and incentivises new investment in firm renewable energy.

"The clean energy industry looks forward to working closely with officials to ensure these options ultimately deliver the price signals necessary for new investment and to manage the phase-out of fossil fuel generation," said Thornton.

"We also welcome and look forward to working on the First Nations Clean Energy Strategy, the integrated energy infrastructure and regional planning scenarios and important consideration of the workforce, supply chain and community needs associated with the accelerated transition of the energy system."

ENDS

For more information or to arrange an interview, contact:

Jane Aubrey
Clean Energy Council Media Manager
[email protected]u
+61 409 470 683