October 17, 2017

EnergyAustralia, one of the country’s largest energy retailers, notes the announcement today of the federal government’s National Energy Guarantee plan.

The following comments are for attribution to EnergyAustralia Chairman Graham Bradley:

"Attracting investment in new generation is critical to restoring the vitality of the National Electricity Market and, if we’re to achieve that, there is no substitute for stable, bipartisan energy policy.

"The Energy Security Board, which includes all industry market bodies, has put to the government a serious proposal to address reliability and emissions reductions. The approach appears consistent with the path outlined by the Finkel review and we will examine it closely.

"We have seen energy-buying standards for retailers used elsewhere in the world to good effect to manage system availability and reliability. For example, Hong Kong operates under a variant of the model and it has delivered some of the most reliable electricity in the world, while reducing emissions and maintaining affordability.

"Of course, no two markets are the same but the ESB’s proposal is worth further consideration to see if it would work here.

"We hope, too, this plan can lead to agreement between state and federal governments on a national approach that reduces duplication and unnecessary cost for customers.

"Families and small businesses across the country are looking to government and industry to get this right. It’s our collective responsibility to find a way to make energy policy work again."