November 23, 2023

EnergyAustralia Managing Director Mark Collette today made the following comments on the expansion of the Capacity Investment Scheme (CIS) and the National Energy Transformation Partnership (NETP) announced yesterday evening by the Commonwealth Minister for Climate Change and Energy, the Hon. Chris Bown MP.

“We welcome the energy policy announcements by the Commonwealth. The policy broadly supports building the new net zero system before closing the existing system.  The details appear to provide broad policy support to accelerate the investments needed in dispatchable and renewable energy while ensuring reliability concerns are met with a strategic reserve.

“Energy customers are worried about future bill increases – getting the details right is important to get the best possible customer outcomes.

“The expansion of the Capacity Investment Scheme is a step forward. The mechanisms to formalise coordination and strategic reserves with state governments recognise the significance of their role in the transition and we look forward to the outcomes from this week’s Energy Ministers meeting.

“Other aspects of the Commonwealth announcement including changes to the enabling environment and establishing a strategic reserve policy are also essential and timely elements of a timely and well-managed transition.

“EnergyAustralia has $3 to 5 billion worth of potential investments in our pipeline including projects such as our Wooreen, Hallett and Mt Piper battery systems and our Lake Lyell Pumped Hydro project. We look forward to engaging with governments to progress these capacity projects – this is one way we enable more renewables to enter the system.”

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