Security, Reliability, Affordability and Sustainability of the National Electricity Market
On 9 June 2017, Australia's Chief Scientist, Dr Finkel delivered his Final Report of the Review to the meeting of Council of Australian Governments (COAG) Leaders' meeting. Following the release of the Final Report, Dr Finkel addressed the National Press Club on 21 June with a speech titled 'National Electricity Market Reform - a blueprint for the future'.
The Media Release: Blueprint for a world-class Electricity System can be found here.
Dr Finkel's speech can be found here.
On 14 July 2017, Energy Council responded to the Review and agreed on a timeline to implement 49 of the 50 recommendations, while noting the significance of the Clean Energy Target recommendation. Actions taken by the Energy Council will deliver the key outcomes of increased security, future reliability, rewarding consumers and lower emissions through an orderly transition, system planning and stronger governance.
Ministers agreed to establish an Energy Security Board (ESB), a new body comprising an independent Chair, Deputy Chair and the heads of the Australian Energy Market Commission, Australian Energy Market Operator and the Australian Energy Regulator.
For more information on the establishment of the ESB, please click here.
For more information on the Independent Review, please click here.