COAG meets on energy policy

THE COAG Energy Council met in Sydney on August 10, with a range of key national issues around energy policy and practice on the table.

At the meeting, commonwealth, state and territory energy ministers moved one step closer to implementing the National Energy Guarantee.

Ministers agreed to release the exposure draft of the National Electricity Law amendments that will implement the guarantee, to occur following a COAG Energy Council teleconference on August 14 and the passage of federal legislation through the Coalition party room.

Energy Security Board chairperson Dr Kerry Schott said the agreement was a “great step forward”.

According to a statement from Federal Minister for the Environment and Energy Josh Frydenberg, the guarantee is “designed by the experts, backed by industry, business and consumer groups and supported by independent modelling which shows the average household will be $550 a year better off under the National Energy Guarantee and existing policies under way.”

“The National Energy Guarantee is in the national interest because it will deliver the investment certainty the sector needs, while lowering power bills, enhancing Australia’s economic competitiveness and strengthening the reliability of our energy system,” the statement said.

Beyond discussion around the National Energy Guarantee, the COAG Energy Council meeting advanced issues around transmission and the integrated system plan, and cybersecurity for energy infrastructure.

New hydrogen opportunities were considered at the meeting, and the implementation of the Australian Competition and Consumer Commission’s (ACCC) report into retail electricity pricing.