NEWS that the COAG Energy Council is supporting 49 of the Finkel Review’s 50 recommendations – including endorsement of a new “demand response” measure that will push down power prices – is a significant achievement that deserves recognition.
Australia’s energy ministers rebooted our energy market reform agenda.
Among a raft of other measures, they have asked the Australian Energy Market Commission (AEMC) to make a recommendation on how to bring demand response into the wholesale electricity market.
More importantly they have given them a deadline – the new rule needs to be in place for the summer of 2018-19.
That deadline is crucial, because last time the AEMC looked at this, it ping ponged back and forth between energy market institutions for four years.
Australia’s energy debate is pretty willing, and there are a huge diversity of perspectives.
But when the Australian Energy Council, the Clean Energy Council, the Business Council of Australia and the National Farmers Federation are all saying we need to back in a clean energy target as part of the full package of Dr Finkel’s reforms, it sends a strong signal to politicians in Canberra and around the country: lets get this done.
Energy Efficiency Council CEO