The Australian Government is committed to reducing the price of electricity and gas and delivering a more reliable and secure energy market. In recent years there has been over $30 billion in investment in intermittent sources of generation in the National Electricity Market (NEM), which is forecast to increase to more than 250% of 2017–18 levels by 2020–21.
Reliable generation must be maintained until alternatives are in place. Intermittent sources of generation must be integrated with technologies that support the reliability, safety and security of the NEM and complemented by investments in dispatchable generation and storage. Promoting investment in energy infrastructure where it is needed will support interregional trade, improve connection to reliable generation, and put downward pressure on electricity and gas prices.
Target of $70 per MWh for average NEM wholesale electricity prices
Domestic gas price in line with netback prices by 2022
1. Maintaining and increasing supply of reliable electricity
2. Increasing domestic gas supplies
3. Promoting efficient investment in energy infrastructure
4. Ensuring Australia’s fuel security