| October 17, 2017
National Energy Guarantee to Deliver Affordable, Reliable Electricity
The Turnbull-Joyce Government will accept the recommendation of the Energy Security Board (ESB) for a new National Energy Guarantee to deliver more affordable and reliable electricity while meeting our international commitments.
Member for Murray, the Hon Damian Drum said the Government had commissioned the expert ESB through recommendations at COAG.
“Recommendations made by ESB focus on three main issues surrounding energy, affordability, reliability and emissions. The National Energy Guarantee will give consumers cheaper electricity without the fear of blackouts and the knowledge that their energy will be coming from a mix of sources to lower emissions,” Mr Drum said.
Mr Drum said it has been a focus of his to bring down the price of electricity and gas since his election in 2016.
“I have met with businesses and families throughout the electorate, particularly manufacturing businesses, and they are all concerned with rising energy costs. The National Energy Guarantee will help alleviate these concerns.
The National Energy Guarantee will require energy retailers across the National Electricity Market to deliver reliable and lower emissions generation each year.
“Unlike previous approaches, the Government is not picking winners; instead we are levelling the playing field. Coal, gas, hydro and biomass will be rewarded for their ready-to-use energy. While wind, solar and hydro will be recognised as lower emissions technologies but will no longer be subsidized,” Damian Drum said.
“The Guarantee builds on Coalition Government’s existing energy policy, which involves the retailers offering consumers a better deal, stopping the networks gaming the system, delivering more gas for Australians before it's shipped offshore and the commencement of Snowy Hydro 2.0 to stabilise the system,” Damian Drum said.