The peak body for energy retailers and generators, the Australian Energy Council, congratulated the Federal Government on the passage of the Climate Bill through the Senate and welcomed the foundation it will provide for economy-wide emissions reduction policies.
The AEC's Chief Executive, Sarah McNamara, said the AEC wholeheartedly supports the Government's commitment to net zero emissions by 2050 and the need for well-considered interim targets to assist its achievement.
"Enshrining a policy in legislation gives businesses and industry greater clarity. For sectors like electricity, which are already deeply invested in Australia's decarbonisation journey, policy confidence is critical to the sector's orderly transition. We look forward to the amended Bill being passed by the House of Representatives in due course.
"Achieving 43 per cent emission reductions by 2030 requires sectors other than electricity to begin their decarbonisation journey this decade. Promisingly, there are immediate and affordable ways to start decarbonising sectors such as Australia's transport and stationary energy sectors through the uptake of electrification technology.
The AEC has proposed an interim economy-wide emissions reduction target of 55 per cent on 2005 levels by 2035.
"Our members have long accepted the science of climate change and the need to decarbonise the economy.
"The electricity sector leads Australia's decarbonisation efforts and has already decreased its emissions by 24.6 per cent since 2009. We'll continue to work constructively on our energy market transition because it is the right thing to do for business, the economy and the environment," said Ms McNamara.
About the Australian Energy Council
The Australian Energy Council is the peak industry body for electricity and downstream natural gas businesses operating in the competitive wholesale and retail energy markets. AEC members generate and sell energy to 10 million homes and businesses and are major investors in renewable energy generation. The AEC supports reaching net-zero by 2050 as well as a 55 per cent emissions reduction target by 2035 and is committed to delivering the energy transition for the benefit of consumers.
