Reliable, secure and affordable energy supply

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.

Key objectives

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

Underwriting New Generation Investments program

Supporting Reliable Energy Infrastructure program

Snowy 2.0

Liddell Taskforce

Retailer Reliability Obligation

Regional and Remote Communities Reliability Fund

Strengthening the investment mandate of the Clean Energy Finance Corporation

2. Increasing domestic gas supplies

Beetaloo Basin Development Strategy

Exploring electrification of industrial power

Australian Domestic Gas Security Mechanism

National Gas Reservation Scheme

3. Promoting efficient investment in energy infrastructure

Marinus Link and Battery of the Nation

Priority Transmission Taskforce

Gas pipeline regulation reforms

4. Ensuring Australia’s fuel security

Liquid Fuel Security Review

Strengthening Australia’s liquid fuel reserves

More information

A fair deal on energy (overview and booklet)