Guarantee to deliver affordable, reliable electricity for Groom
Tuesday, 17 October 2017
The Turnbull 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 Groom Dr John McVeigh said under The Guarantee households and businesses across the Darling Downs would have access to affordable and reliable power.
“The National Energy Guarantee will give certainty to investors and encourage investment in all forms of power,” Dr McVeigh said.
“This means electricity bills will be lower than currently forecast and lower than they would have been under a Clean Energy Target,” he said. “We understand that families and businesses are doing it tough and this Guarantee will provide cost-of-living relief.”
“The National Energy Guarantee will lower electricity prices, make the system more reliable, encourage the right investment and reduce emissions without subsidies, taxes or trading schemes.”
The Guarantee is made up of two parts that will require energy retailers across the National Electricity Market to deliver reliable and lower emissions generation each year.
Dr McVeigh said all segments of electricity generation will be used.
“Coal, gas, hydro and biomass will be rewarded for their dispatchability while wind, solar and hydro will be recognised as lower emissions technologies, but will no longer be subsidized,” he said.
“I spoke in Parliament in February on how the Darling Downs would be a key player in the future of energy generation going forward and I stand by that.
“Within a few short kilometres we have Acland Coal Mine, the 80 megawatt Oakey Solar Farm is being built and the 332MW dual liquid/gas-fired open-cycle Oakey power station is providing another energy source.
“Slightly further afield we have a range of other power projects including AGL Energy’s proposed $500 million Coopers Gap wind farm which has a proposed capacity of 350 megawatts.
“In February I said that if all these projects work in tandem it is a perfect example of the Federal Government’s approach to energy going forward … renewables, fossil fuels, old technology, new technology all working together to ensure a stable, secure and affordable energy supply.
“Today the National Energy Guarantee takes that another step forward. Unlike previous approaches, we are not picking winners we are levelling the playing field.
“This Government is building on our recent energy policy gains which involves 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 stabilize the system,” Dr McVeigh said.