Energy Ministers met today as part of the Energy National Cabinet Reform Committee (the Committee).
Ministers noted the Energy Security Board’s (ESB) ongoing work to deliver the Post-2025 Market Design project, including the possible direction of the reforms.
The ESB’s final recommendations will be delivered to Energy Ministers in the coming months.
Ministers also considered the ESB’s final recommendations on the interim renewable energy zones framework, and noted agreement to these will be sought at a later date.
Ministers agreed to a package of priority reforms to boost the gas market to improve outcomes for both gas customers and suppliers. These include:
- expediting amendments to the National Gas Law to incorporate hydrogen and renewable gas blends, such as biogas;
- accelerating development of the Wallumbilla Gas Supply Hub;
- reviewing the pipeline capacity trading framework; and
- implementing previously agreed pipeline regulation reforms.
This package will be considered by National Cabinet.
Energy Ministers’ Meeting:
As part of the Energy Ministers’ Meeting, Ministers agreed on the key priorities for this forum. This includes cyber security preparedness in the energy sector, the implementation of Australia’s National Hydrogen Strategy, governance of Australian energy market bodies, and establishing an energy technology work plan.
The Energy Ministers’ Meeting has replaced the former COAG Energy Council and will focus on priorities that are not covered by the Committee.
Energy Ministers will next meet in August.