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COAG Energy Council agrees to progress reliability obligation



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THE HON ANGUS TAYLOR MP MINISTER FOR ENERGY

MEDIA RELEASE

Friday, 26 October 2018

COAG ENERGY COUNCIL AGREES TO PROGRESS RELIABILITY OBLIGATION

Today the COAG Energy Council met in Sydney to discuss the need to bring power prices down while

ensuring the reliability of the grid.

COAG Energy Council ministers noted that the Energy Security Board (ESB) will cease work on the

National Energy Guarantee and agreed the ESB would bring forward National Electricity Law amendments

to advance a Retailer Reliability Obligation.

The ESB will prepare a final draft Bill for the Council for consideration at the next meeting in December

2018, to be implemented by 1 July 2019.

Ministers also agreed to develop a reference price set by the Australian Energy Regulator (AER) for

consideration at the December 2018 meeting. The Australian Government has asked the AER to complete

the work required to calculate this reference price by the end of April 2019, so it can be in place by 1 July

2019.

Ministers also noted the Australian Energy Market Operator’s (AEMO) preparedness for summer and

advice that additional measures are required to support future reliability.

Together, these measures will help to lower power prices for Australian households and businesses while

keeping the lights on.

To read the full COAG Energy Council Communique, please visit:

http://www.coagenergycouncil.gov.au/publications/20th-energy-council-ministerial-meeting-communiqué

ENDS

Energy Minister’s office: Liam O’Neil 0428 113 617