Reform to the National Energy Objectives (NEO) will be a key driver to accelerating decarbonisation in Australia, according to the Clean Energy Council.
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In a submission in response to the consultation on incorporating an emissions reduction objective into the National Energy Objectives, the Clean Energy Council said proper consideration of carbon emissions in energy objectives would make it easier for investors to make fully informed choices, helping keep costs down for consumers.
“This is a really positive development. This long overdue change will make it easier for policymakers to consider the realities of climate change in their decision making,” Clean Energy Council director of energy transformation Christiaan Zuur said.
“Despite what the naysayers would have you believe, this will only make it easier and cheaper to decarbonise the grid.
“This is not the time for grandstanding, or crying doom because governments are finally addressing the realities of the climate crisis. It’s about getting on with the job and finding ways to help the Australian Energy Market Commission, Australian Energy Regulator and Australian Energy Market Operator find sensible ways to adapt our creaking market regulatory frameworks.”
Within the National Electricity Law, the NEO sets out some guiding principles for the National Electricity Market (NEM) rules. The NEO promotes “efficient investment in, and efficient operation and use of, electricity services for the long-term interests of consumers of electricity with respect to: 1. price, quality, safety, reliability, and security of supply of electricity; and 2. the reliability, safety and security of the national electricity system”.
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The Clean Energy Council said it was focused on turning these high-level objectives into practical outcomes and would work with industry and regulators to implement this long-overdue reform.
