Industry calls for urgent energy reform to avert ‘systematic crises’

Representatives of Australia’s communities, households, business energy users and energy suppliers have released a joint statement calling on the government and stakeholders to support reform of Australia’s energy systems and markets.

“The status quo of policy uncertainty, lack of co-ordination and unreformed markets is increasing costs, undermining investment and worsening reliability risks,” the joint statement released today by the 18 groups, including Australian Energy Council, Clean Energy Council,  Energy Networks Australia, and WWF Australia, said.

“This impacts all Australians, including vulnerable low-income households, workers, regional communities and trade-exposed industries.

“Energy has been a source of advantage for our industries and prosperity for our households.

“It should become so again even as Australian governments, businesses and communities deliver our national contribution to the global net zero emissions goal of the Paris Climate Agreement.

“Much depends on the success of two closely connected policy processes.”

The statement said the 2017 climate change review should assess all policy options and provide advice to Government.

“Taking policy options off the table at this point risks a less efficient transformation, continued investment uncertainty, higher electricity prices and lower international competitiveness,” it said.

“If the 2017 review fails to deliver a clear path forward for stable climate policy, Australian consumers face reliability risks and failing to meet the Government’s international emissions commitments.

“As the Preliminary Report of the Finkel Review correctly notes, many of the technological, economic and consumer trends transforming our energy systems are irreversible. Policy and market designs need to evolve if investors are to deliver the energy services Australians require at a price they can afford.”

 

The statement was released by: 

Australian Aluminium Council; Australian Conservation Foundation; Australian Council of Social Services; Australian Council of Trade Unions; Australian Energy Council; The Australian Industry Group; Australian Steel Institute; Business Council of Australia; Cement Industry Federation; Clean Energy Council; Energy Consumers Australia; Energy Efficiency Council; Energy Networks Australia; Energy Users Association of Australia; Investor Group on Climate Change; St Vincent de Paul Society National Council; The Climate Institute; and WWF Australia.