Optimising Network Incentives Report
In September 2017, KPMG were engaged by the Energy Market Transformation Project Team (EMTPT) to review existing and alternative regulatory frameworks that may improve flexibility and encourage innovation and efficiency in electricity network investment and operation.
Please see below Optimising Network Incentives, prepared by KPMG, and the Senior Committee of Officials Bulletin for more information.
Energy Security Board Terms of Reference
On 24 November 2017 Energy Council Ministers formerly amended and endorsed the Terms of Reference for the Energy Security Board (ESB) including that it only undertake work as directed by the COAG Energy Council.
The Terms of Reference for the ESB can be found below.
COAG Energy Council Review of Petroleum Licensing Regulations
Australia’s ability to continue to attract the large-scale investment required to support petroleum projects has been underpinned by sound petroleum development and production regimes both onshore and offshore.
Review of Energy Consumers Australia
The COAG Energy Council agreed to establish a national energy consumer advocacy body on 13 December 2013 based on the Proposal for a National Energy Consumer Advocacy Body. This report was developed by independent advisors in consultation with consumer groups and other stakeholders as part of the energy market reform package agreed by Energy Ministers in 2012.
Energy Consumers Australia (ECA) was established as a company limited by guarantee on 30 January 2015, and assumed the responsibilities of the former Consumer Advocacy Panel, which was closed on ECA’s establishment.
Capacity Trading Reform Package Legal and Regulatory Framework – Consultation
The Gas Market Reform Group (GMRG) has undertaken a public consultation on the legal and regulatory framework required to implement the capacity trading reform package. Before the reforms can be implemented, a number of amendments will need to be made to the National Gas Law, the Regulations made under the National Gas Law and the National Gas Rules. Further, a new instrument, the Operational Transportation Service Code, will need to be developed.
Energy Security Board National Electricity Market Data Strategy - Consultation Paper
The independent Energy Security Board (ESB) has today released a public consultation paper on the development of a data strategy for the National Electricity Market (NEM). The ESB is developing the data strategy, in collaboration with the Australian Energy Regulator (AER), as recommended in the reform blueprint produced by Australia's Chief Scientist, Dr Alan Finkel AO.
Report to COAG Leaders on Finkel Review Implementation
On 31 August 2017 COAG Energy Council provided advice to COAG Leaders on the implementation plan for the Finkel Review and this advice has now been agreed by COAG Leaders. This report also constituted the first annual public report to COAG Leaders on COAG Energy Council's priorities and progress, as recommended in the Finekl Review. Further information on the Report can be found here.
National Electricity Law And National Gas Law Amendment Package – Creating a binding rate of return instrument.
The COAG Energy Council has agreed to make a number of changes to the National Electricity Law (NEL) and the National Gas Law (NGL) relating to the calculation of the rate of return on capital and the value of imputation credits used in economic regulatory decisions.
The Senior Committee of Officials is seeking feedback on the draft legislation, particularly regarding implementation issues.
Facilitating Access to Consumer Energy Data - Consultation Paper
In 2016, electricity consumers, or their authorised representative, were given a right to access metering data from distributors or retailers. This was intended to empower consumers to make decisions about electricity use, investments in solar PV and other energy savings technologies, and choices of competitive retailer with a clear understanding of historic consumption patterns.
Media Release: Call for public submissions on the National Energy Guarantee
The first public consultation paper for the National Energy Guarantee has today been released by the independent Energy Security Board.
The Media Release can be found below.