21st Energy Council Ministerial Meeting
Energy Ministers met today in Adelaide for the 21st COAG Energy Council Meeting.
Ministers welcomed the new Tasmanian Minister for Resources, Building and Construction, The Hon Sarah Courtney MP and thanked the Hon Ben Wyatt MLA for his contribution to the Council.
Ministers discussed the importance of bringing power prices down, while planning for the future security and reliability of the grid.
More outcomes can be found in the Communique below.
Consultation on Retailer Reliability Obligation Detailed Design Issues
Following the COAG Energy Council meeting on 26 October 2018, Ministers agreed that the Energy Security Board (ESB) would progress development of draft National Electricity Law amendments to give effect to a Retailer Reliability Obligation (the Obligation).
The ESB consulted on detailed policy issues relating to the Obligation. These included the framework for determining the firmness of contracts used by liable entities to meet their contracting requirements under the Obligation, the materiality of the reliability gap, and the compliance and cost-recovery regime.
Retailer Reliability Obligation
The Energy Security Board (ESB) invites stakeholders interested in the Retailer Reliability Obligation (RRO) to the following:
Consultation on Proposed Metrics for Strategic Energy Plan
The Independent Review into the Future Security of the National Electricity Market (the Finkel Review) recommended that, by mid-2018, the COAG Energy Council (Energy Council) develop and maintain a Strategic Energy Plan for the National Electricity Market. The purpose of the Strategic Energy Plan is to ensure a clear strategic focus for the Energy Council’s work and to provide clarity of direction to market bodies and market participants.
Consultation on Retailer Reliability Obligation Legislative Amendments
Following the COAG Energy Council meeting on 26 October 2018, Ministers agreed that the Energy Security Board (ESB) would progress development of draft National Electricity Law amendments to give effect to a Retailer Reliability Obligation. The ESB will provide the COAG Energy Council with a final draft Bill for decision in December 2018.
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.