November 13, 2012

EnergyAustralia said the Federal Government’s energy white paper sets out an important strategic agenda for Australia’s energy markets.

EnergyAustralia’s Managing Director, Richard McIndoe, said the paper was a platform from which to consider the future challenges facing Australia's energy markets.

“The white paper identifies a number of critical issues, including the need for Australian governments to deregulate retail energy markets and encourage competition, support for demand-side initiatives and boost investment,” Mr McIndoe said.

“The white paper acknowledges that there are only a small number of investors, such as EnergyAustralia, with deep experience in new energy developments.
“Importantly, it also recognises that Australia’s ability to continue to encourage the significant levels of investment necessary is dependent on energy markets that provide opportunities for fair commercial returns.
“At the same time, we recognise electricity prices are a major issue for customers and we support government initiatives to assist customers in overcoming this.
“Deregulating retail energy prices will enable customers to be rewarded when they shift their consumption away from peak demand periods. This will help us tackle rising peak demand which has been a key driver in rising energy costs.
“Deregulation has supported increased competition and better products for Victorian consumers and we believe it can deliver benefits to consumers in other states.
“Further privatisation will support a more efficient, competitive and productive energy sector, ensuring adequate investment for Australia’s future energy needs at lowest possible cost.
“We are pleased with the white paper’s focus on greater gas market transparency. If we are to ensure adequate gas supplies of competitively priced gas to Australians and Australian firms then efficient, forward-looking gas markets will be critical.
“EnergyAustralia is continuing to review the detail of the energy white paper and looks forward to working with all levels of government on energy market reforms,” Mr McIndoe said.
For further information please contact:
EnergyAustralia: Emma Tyner 0413 264 342