Energy Security Board National Energy Guarantee - Consultation Paper
Publication date: Thursday, 15th February 2018.
The first public consultation paper for the National Energy Guarantee (Guarantee) has today been released by the independent Energy Security Board (ESB). The guarantee’s intention is to deliver more reliable, affordable and cleaner energy to Australian consumers.
The ESB is chaired by Dr Kerry Schott AO, and includes Deputy Chair Clare Savage, Australian Energy Market Commission Chair John Pierce AO, Australian Energy Market Operator Chief Executive Officer Audrey Zibelman, and Australian Energy Regulator Chair Paula Conboy.
ESB is implementing the COAG Energy Council’s mandate to deliver a lower emissions, reliable power system with enough electricity available when needed, at the lowest possible price.
The Guarantee was considered by the COAG Energy Council at its last meeting in November 2017 which agreed that further development work and public consultation should be conducted.
“We are seeking feedback from stakeholders on the high level design of the mechanism’s reliability and emissions component,” Dr Schott said.
“While the Federal Government will set the emission target itself we need stakeholder inputs on how contracting and compliance associated with meeting annual electricity emissions targets will work in practice.
“Reliability requirements will be set for each region across the whole power system, and we welcome contributions exploring the effectiveness of proposed incentives for investment in dispatchable energy and compliance arrangements.”
The release of this paper is the first step in a consultation process that will occur over coming months. The ESB will provide a draft high-level design to the COAG Energy Council in early April, ahead of the COAG meeting later that month where ministers will consider the report.
Following the release of ESB's first public consultation paper for the Guarantee on Thursday 15th February, the ESB has since held a public stakeholder forum in Sydney on 26 February 2018, and received more than 100 submissions to the consultation paper. The consultation process has now closed and the ESB thanks the organisations who have participated in this process.
The feedback received in response to the consultation paper will help inform the ESB’s advice to the COAG Energy Council ahead of its April meeting.
A stakeholder forum was held in Sydney on 26 February 2018.