Energy governance review delivers the right blueprint at the right time

A review of Energy Market Governance final report provides a clear blueprint to reinvigorate energy reform in Australia for better outcomes for consumers, according to Energy Networks Association (ENA).

ENA CEO John Bradley welcomed the report, the Review of Governance Arrangements for Australian Energy Markets, by an independent expert panel chaired by Dr Michael Vertigan AC, saying the expert panel delivered Australia’s energy ministers the right blueprint for energy reform in Australia.

“We urge the COAG Energy Council to take up the key recommendations which will produce more agile and streamlined energy policy making, regulation and market operation at a time of significant transformational change in the energy system,” he said.

Mr Bradley said the panel had correctly identified the risks and costs to consumers of fragmented or poorly considered energy policies loom even larger in a period of profound change.

“We would welcome a strengthened role for the Australian Energy Market Commission to support Ministers with regular, robust, evidence-based advice on strategic policy priorities,” he said.

“The review has recognised well-performing energy market institutions are a key ingredient for energy markets to deliver for consumers.”

ENA also supported the final report’s recognition that credible, certain regulation was important for consumers because it lowers costs of long-lived network infrastructure.