Energy Security Board
Overview of the Energy Security Board
In August 2017 a new Energy Security Board (ESB), chaired by Dr Kerry Schott AO, was established by the COAG Energy Council. The Board’s role is to coordinate the implementation of the reform blueprint produced by Australia's Chief Scientist, Dr Alan Finkel AO.
The ESB will also provide whole of system oversight for energy security and reliability to drive better outcomes for consumers. The ESB comprises an Independent Chair, Independent Deputy Chair and the heads of the Australian Energy Market Commission, Australian Energy Regulator and Australian Energy Market Operator.
The ESB reports to the COAG Energy Council. Each year the ESB will deliver a Health of the National Electricity Market report to COAG Energy Council that will track the performance of the system, the risks it faces, and the opportunities for improvement.
On 20 December 2017, the ESB delivered the inaugural Health of the National Electricity Market Report. The Report assesses the present health and outlook for the NEM.
The Report and the ESB Media Release: Health of the NEM Report can be found here.
National Energy Guarantee
In October 2017 the ESB provided the COAG Energy Council with advice on changes to the changes to the National Electricity Market (NEM) and legislative framework. The proposed National Energy Guarantee (NEG) aims to support the provision of reliable, secure and affordable electricity with a focus on ensuring:
the reliability of the system is maintained
electricity sector emissions reductions needed to meet Australia’s international commitments are achieved
the above objectives are met at the lowest overall costs.
Consultation paper for draft design of the Guarantee