Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
MCE to provide energy security input to CPRS and RET development.

Download PDFDownload PDF

Minister for Resources and Energy, Minister for Tourism

MCE TO PROVIDE ENERGY SECURITY INPUT TO CPRS AND RET DEVELOPMENT The Ministerial Council on Energy (MCE) will establish an official working group to identify and analyse energy security issues arising from the implementation of the Australian Government's Carbon Pollution Reduction Scheme (CPRS) and Renewable Energy Target (RET) and provide input to the Commonwealth officials working on key design aspects of these policies.

Minister for Resources and Energy, Martin Ferguson AM MP, said: "The Australian Government's CPRS Green Paper discusses the implementation of a climate change strategy which aims to reduce Australia's greenhouse gas emissions while building long-term economic prosperity.

"The MCE has been directed by the Council of Australian Governments to address energy security and energy market reform.

"The implementation of the CPRS and the RET will have significant implications for the operation of the National Energy Market (NEM).

"The energy sector issues raised by the introduction of these policies include retail price regulation, pass-through of carbon costs, investor confidence, transitional assistance for coal-fired electricity generators, and practical regulatory and technological hurdles to CPRS and RET implementation.

"Australians can be assured that as the Government introduces the CPRS, it will also ensure Australia's energy security by ensuring an environment conducive to both ongoing investment and reliability of electricity and gas supplies."

The Green Paper has already flagged the issue of retail price regulation and the need for it to be addressed by the MCE.

Mr Ferguson said: "The Australian Government knows it is vital to get the CPRS and RET right for Australian industry, exports, investment and jobs and therefore input from industry and State and Territory jurisdictions is very important.

"The work of the MCE will be a very important contribution to the process of successful CPRS and RET design and implementation."

Media contact: Michael Bradley - 0420 371 744

Note: This media release was amended on 13 August 2008.

RET Minister > The Hon Martin Ferguson AM MP

The Hon Martin Ferguson AM MP

31 Jul 2008