Energy regulators will be forced to focus on reducing emissions alongside their existing goals of keeping power affordable and reliable after a rewriting of the rules governing the electricity market agreed to by state and federal energy minsters.
Following the announcement, electricity generators signalled support for the energy ministers’ “overall intent” but said they opposed the new environmental clause. Renewables developers have insisted the lack of an environmental objective has delayed Australia’s clean energy transition and blocked the market settings needed to reward investment in green power projects.
The ministers also signed an agreement to co-operate on the building program for huge new power line links that are needed to connect new renewable energy projects across state borders, and to develop new rules to empower the market operator to access private company information and better forecast potential energy supply shortfalls.
A coalition of major renewable energy investors agreed, saying the inclusion of the emissions objective was long-overdue. Victorian Energy Minister Lily D’Ambrosio said the Andrews government had pushed for climate change to be included in the market’s objectives since 2016, “but were blocked by federal Liberal National governments”.Queensland’s Energy Minister Mick de Brenni said Friday’s agreement was a “step change” after years of inaction.
Source: News Formal (newsformal.com)
Easy turn off the power. The Greens think we do not need it.
Electricity is now a luxury good
With costs obviously borne by us, the users.
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