Australia’s state, territory, and Federal energy ministers have agreed to a framework for the promised National Energy Transformation Partnership announced in June.
Under the framework, ministers agreed to:
- Add an emissions objective to the National Energy Objectives – a long overdue addition
- Identify transmission projects of national significance to ensure timely delivery of these projects and ensure better community consultation
- Develop a First Nations Clean Energy Strategy co-designed with First Nations people
The reforms will ensure a stable transition to renewable energy with ministers agreeing to take an active role in ensuring firming capacity.
Ministers agreed separately to extend the power of the Australian Energy Market Operator (AEMO), enabling the organisation to take further action in managing supply risks to the East Coast gas market come winter 2023.
Climate Change and Energy Minister, Chris Bowen, thanked state and territory ministers for their collaborative spirit and hard work.
“We have come together and mapped out a pathway through the current energy problems and ways to best avoid further crises down the track,” Mr Bowen said.
“There is no one silver bullet but by working together and empowering key market bodies we are plotting the way forward that will benefit all Australians and the broader economy.
“This Government came to office in May with a comprehensive climate and energy policy.
“The Commonwealth is now building on this reform program with all jurisdictions to deliver much needed long-term certainty to industry and investors.
“Decisions taken today will support reliable energy supply and put downward pressure on prices over the medium to long-term.”
