Energy ministers axe Energy Security Board

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Federal, state and territory energy ministers have killed off the Energy Security Board—which includes the Australian Energy Market Operator (AEMO), the Australian Energy Regulator (AER) and the Australian Energy Market Commission (AEMC)—to be replaced by an advisory panel.

This move will allow governments rather than regulators to steer changes to allow for an influx of wind and solar into the grid.

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In a statement following Friday’s meeting of energy ministers in Alice Springs, they said the “time was right” to transition to the Energy Advisory Panel (EAP), which will coordinate market body advice to governments on security, reliability and affordability of the National Electricity Market (NEM).

The Australian Competition and Consumer Commission (ACCC)’s energy commissioner Peter Crone will also join the EAP to advise on issues relating to gas supply, retail markets and consumer protections. The new arrangements will take place from July 1.

Current chair the Energy Security Board, AEMC chairperson Anna Collyer, said she supported the transition to an advisory panel.

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“The priority is and remains supporting ministers to develop the suite of rules, reforms and regulations we need to ensure we can deliver affordable, reliable electricity for all consumers,” Collyer told the Australian Financial Review.

“I look forward to continuing to work with stakeholders via the new Energy Advisory Panel to support an orderly transition to net zero.”

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