“The Prime Minister is right to highlight the critical importance of affordable, reliable, clean energy to Australia’s future,” Australian Industry Group Chief Executive, Innes Willox, said.
“Industry is deeply concerned about the steeply rising price of electricity and gas and the increasing challenges to reliable supply. The status quo is unsustainable. Only serious, rigorous and meaningful reform to our energy markets and energy and climate policy will keep the lights on, business on shore and emissions goals within reach.
“Initiatives to encourage badly needed gas supply and energy storage are positive but more needs to be done and quickly. While private investment in new coal-fired power stations would be difficult, it is important that energy policy be technology neutral and open to all options that can deliver the reliable, affordable and clean energy we need. Market mechanisms have the greatest potential to meet the test of technology neutrality.
“However, energy and climate policy are only effective and efficient when they are nationally consistent and bipartisan. There is no solution without investment, and investors currently have no basis for confidence and certainty in energy except the Renewable Energy Target. Policy competition between the parties is a good thing, but all sides of politics and levels of government are going to need to compromise if any energy policy is to stick and deliver the investment certainty, guaranteed supply and price affordability that Australia needs,” Mr Willox said.