20th Energy Council Ministerial Meeting Communiqué
Energy Ministers met today in Sydney for the twentieth COAG Energy Council meeting.
Ministers discussed the importance of bringing power prices down and reducing emissions while ensuring the reliability of the grid. The new Commonwealth minister for Energy, and Chair of the COAG Energy Council, the Hon Angus Taylor MP, was welcomed by the Council. The Council also acknowledged the significant contribution of the previous Commonwealth Energy Minister the Hon Josh Frydenberg MP.
Energy Security Board consultation on ACCC Recommendations 6 and 7
The Energy Security Board (ESB) was tasked at the August 2018 Council of Australian Governments (COAG) Energy Council meeting with providing advice to the Council on Recommendations 6 and 7 of the Australian Competition and Consumer Commission (ACCC) Retail Electricity Pricing Inquiry – Final Report (June 2018). Two consultation papers have been prepared by the ESB to inform its advice to the COAG Energy Council.
National Electricity Rules (NER) and National Gas Rules (NGR) - Consultation
Stakeholder comment is sought on proposed rule changes to support the introduction of legislation to create a binding rate of return instrument. The proposed rules remove or amend the National Electricity Rules (NER) and National Gas Rules (NGR) that will be outdated after the passage of the legislation.
We are seeking feedback on the rule changes that:
Energy Security Board Converting the ISP into action
The Energy Security Board (ESB) has published a paper that sets out an overview of the processes and next steps until late 2018, when the ESB will report back to the COAG Energy Council on:
National Principles for Managing Rehabilitation Financial Risks
On 10 August 2018 , the COAG Energy Council, following consideration of financial obligations for mine site rehabilitation, endorsed a set of National Principles for Managing Rehabilitation Financial Risks, established by the COAG Energy Council’s Resource Policy Group.
The Principles provide guidance jurisdictions to ensure financial provisioning is robust and minimises a state/territory’s exposure to unmet rehabilitation obligations of a mine site.
ACCC Retail Electricity Pricing Inquiry report Bulletin
At its 18th meeting on 10 August 2018, the COAG Energy Council commenced consideration of the recommendations of the Australian Competition and Consumer Commission’s (ACCC) Retail Electricity Pricing Inquiry. An update on this work program may be found at the Bulletin below.
Hydrogen for Australia's Future
The Hydrogen Strategy Group has released its briefing paper to COAG Energy Council Ministers on Hydrogen for Australia's Future.
The briefing paper discusses the scope of Australia's hydrogen potential and frames the discussion for a national strategy.
Gas Market Reform Bulletin No.3
On 10 August 2018, the COAG Energy Council endorsed the Senior Committee of Officials recommendations regarding the Australian Energy Market Commission's review into the scope of economic regulation applied to covered pipelines.
Consultation on National Energy Guarantee Legislative Amendments
The COAG Energy Council consulted on an exposure draft of the proposed changes to the National Electricity Law that would implement the National Energy Guarantee (Guarantee).
The draft Bill, prepared by the Energy Security Board based on the Final Detailed Design of the National Energy Guarantee, was considered by the COAG Energy Council on 10 August 2018. The draft Bill sets out:
Energy Security Board - Media Release
The Energy Secuirty Board have issued a media release, on the National Energy Guarantee, following todays COAG Energy Council Meeting.
The ESB's media release can be found below.