Australia’s largest and most representative business network, the Australian Chamber of Commerce and Industry, has welcomed the COAG Energy Council’s recognition today of the importance of bringing power prices and emissions down while planning for the security and reliability of the power grid.
“Business has been beating down the doors of federal, state and territory politicians, calling on them to work together in a consistent way to get the price of power down and get reliability up; and reduce emissions to meet our international commitments while ensuring that we do not threaten Australia’s international competitiveness.
“The agreement to adopt a reference bill as proposed by the ACCC to help consumers get a better deal from power companies is welcome.
“Progressing reliability through the proposed Retailer Reliability Obligation, which aims to incentivise investment in power generation to ensure power is available where and when it is needed, is a strong positive outcome.
“ACCC recommendations to get prices down, plus action on reliability and emissions, can provide short and long term mechanisms to address the energy crises that has put business and households under strain.
“The best way we can secure significant investment in cheaper and more reliable power is to provide the private sector with the policy certainty it requires to invest with confidence in the energy sector.
“The responsibility sits squarely on the shoulders of the federal, state and territory governments to work together on policies that will address the energy crises that is putting businesses and households under strain.
“We hope today’s meeting helps to turn the corner in energy policy. So we can give relief to Australian households and give Australian businesses a fighting chance.”