Energy Security Board
Overview of the Energy Security Board
In August 2017 a new Energy Security Board (ESB), chaired by Dr Kerry Schott AO, was established by the COAG Energy Council. The Board’s role is to coordinate the implementation of the reform blueprint produced by Australia's Chief Scientist, Dr Alan Finkel AO.
The ESB will also provide whole of system oversight for energy security and reliability to drive better outcomes for consumers. The ESB comprises an Independent Chair, Independent Deputy Chair and the heads of the Australian Energy Market Commission, Australian Energy Regulator and Australian Energy Market Operator.
The ESB reports to the COAG Energy Council. Each year the ESB will deliver a Health of the National Electricity Market report to COAG Energy Council that will track the performance of the system, the risks it faces, and the opportunities for improvement. The first report is due to be published by the end of 2017.
The Terms of Reference for the ESB can be found here.
National Energy Guarantee
In October 2017 the ESB provided the COAG Energy Council with advice on changes to the National Electricity Market (NEM) and legislative framework. The proposed National Energy Guarantee (the Guarantee) aims to support the provision of reliable, secure and affordable electricity with a focus on ensuring:
the reliability of the system is maintained
electricity sector emissions reductions needed to meet Australia’s international commitments are achieved
the above objectives are met at the lowest overall costs.
Detailed Design Process
The ESB’s high level design proposal for the Guarantee was presented to a meeting of the COAG Energy Council on 20 April 2018. It was agreed for the ESB to progress development of the detailed design of the Guarantee, for determination at the COAG Energy Council’s August 2018 meeting.
Week of 21–25 May
COAG Energy Council meeting and Final Detailed Design of the National Energy Guarantee
|September||Consultation on National Energy Guarantee Legislative Amendments|
|November||Consultation on Retailer Reliability Obligation Legislative Amendments|
Consultation paper for draft design of the Guarantee
On 24 November 2017, the COAG Energy Council agreed that the ESB should provide further advice on the Guarantee. This was provided in April 2018, after broad consultation. On 15 February 2018 the ESB published a consultation paper for the draft design of the Guarantee. This consultation paper was prepared by the ESB to facilitate public consultation on the high-level design of the proposed Guarantee and to seek stakeholder submissions.
Recent Energy Security Board announcements