Blueprint for Energy Security in the National Electricity Market
The Australian electricity market is undergoing a significant transition, including due to rapid technological change, the increasing penetration of renewable energy, a more decentralised generation system, withdrawal of traditional baseload generation and changing consumer demand.
Examination of the current test for the regulation of gas pipelines
On 19 August 2016, the Energy Council (the Council) released a comprehensive Gas Market Reform Package responding to the findings and recommendations of the Australian Energy Market Commission’s (AEMC) Eastern Australian Wholesale Gas Market and Pipelines Framework Review: Stage 2 Final Report and the Australian Competition and Consumer Commission’s (ACCC) Inquiry into the East Coast Gas Market.
Report on the National Energy Guarantee
Ministers met in Hobart on 24 November 2017 to discuss the National Energy Guarantee.
The covering letter from the Energy Security Board to the Hon Josh Frydenberg can be found below, as well as the Report on the National Energy Guarantee.
15th Energy Council Ministerial Meeting
Ministers met in Hobart on 24 November 2017 to discuss their top priority - ensuring reliable and affordable supply of electricity whilst working towards a lower emissions future.
Further outcomes of the meeting can be found in the Communique below.
Energy Market Transformation work program
The Energy Market Transformation work program, which commenced in early 2016, aims to ensure regulatory frameworks are fit for purpose to cope with the effects of emerging technologies and to enable consumers to benefit from innovative services while mitigating any risks. It aims to ensure regulatory frameworks are flexible enough to support a successful transition of the electricity market to a future characterized by more and increasingly decentralized supply options.
Further information on the key work streams identified in the work program is outlined below.
National Energy Guarantee Modelling
The Hon Josh Frydenberg has written to the Energy Security Board regarding the additional modelling for the National Energy Guarantee.
National Energy Guarantee
In October 2017 the Energy Security Board provided the COAG Energy Council with advice on changes to the National Electricity Market and legislative framework.
Binding Rate of Return Guideline
On 14 July 2017, the COAG Energy Council agreed to implement a binding guideline for the rate of return components of the Australian Energy Regulator’s regulatory determinations for electricity and gas and the Western Australian Economic Regulation Authority’s regulatory determinations for gas network businesses
Consumer participation in revenue determinations and associated regulatory processes – Consultation Paper on Consumer Resourcing
In July 2017, the COAG Energy Council agreed to consult on options to improve resourcing available to consumer groups to support more effective engagement in the Australian Energy Regulator’s revenue determinations and access arrangement decisions under the national electricity and gas laws and rules.
Energy Security Board - Ministerial Power to make Rules
Introducing a Ministerial Power to make rules recommended by the Energy Security Board and approved by the COAG Energy Council.