National Energy Guarantee – What does it mean for the energy industry?
The Turnbull Government yesterday announced that it would accept the recommendation of the Energy Security Board (ESB) for the introduction of a new National Energy Guarantee (NEG). The NEG will create a dual reliability and emissions guarantee. By Anne Wardell, Compliance Quarter. The main focus of the NEG appears to be the reduction of household energy bills, with the emissions reduction scheme taking a back seat. The assumption that household energy bills will be reduced is based on a lot of hypotheticals which may or may not occur. Commentators like Laura Tingle, Australian Financial Review, have questioned whether the assumptions underpinning the recommendation will operate effectively[1]. Interestingly she concludes her opinion piece with the following observation: ‘The irony is that their market dominance through vertical integration will probably make it…
