Energy market Reforms Argued

The Clean Energy Council (CEC) has argued that energy market reform is crucial to keeping power prices down.

In its submission to the Senate Select Committee on Electricity Prices, the CEC has argued that rules that underpin how the electricity industry delivers power to consumers do not reflect the need of consumers or the changing needs of the energy system.

“Australia, along with many other developed countries, is experiencing significant electricity price increases, with very real consequences for vulnerable households and businesses,” said CEC Chief Executive David Green.

“It’s great news that the cost of moving to a more equitable and cleaner future for Australia is set to fall to less than 4 per cent of bills by 2020. Getting the framework right to ensure network costs do not reach the forecast 55 per cent of an Australian household energy bill is now essential,” said Mr Green.

The CEC has also argued that the National Electricity Objective does not adequately represent the needs of electricity bill-payers, long-economic factors of the need for environmentally sustainable development.

Reform of the National Electricity Objective will allow the long-term interests of consumers to have far greater weight with regulatory decision makers,” Mr Green said.

“Now we need to get on with the job of making real changes to Australia’s energy market that will deliver actual benefits to consumers in the form of more money in their pockets.”

The CEC’s submission to the Senate Select Committee on Electricity Prices is available online at cleanenergycouncil.org.au/policyadvocacy/Submissions/current

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