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.
13th Energy Council Ministerial Meeting (via TelePresence)
Energy Ministers today agreed their advice to the Council of Australian Governments on the implementation for the 49 of 50 recommendations agreed by the Energy Council at its meeting of 14 July 2017. The report forms the first annual report to COAG Leaders, due by the end of August, on the Energy Council's priorities.
For more information on the meeting, please click on the Media Release below.
Establishment of the Energy Security Board Media Release
Energy Market Transformation Bulletin No 05 – Work Program Update
The energy sector is undergoing a major transition, driven by changing technologies, increasing consumer engagement, new energy products and services. A key challenge of the transition is that existing regulatory frameworks were designed around a centralized system of electricity generation and distribution, and we are seeing a shift to a more decentralized one.
12th Energy Council Meeting Communique (includes 11th Meeting Communique)
The 12th COAG Energy Council meeting was held on 14 July 2017 in Brisbane.