Consultation on proposed legislative changes to incorporate an emissions reduction objective into the national energy objectives
On 12 August 2022, Energy Ministers agreed to fast track the introduction of an emissions reduction objective into the national energy objectives, as a first action under the National Energy Transformation Partnership.
This will integrate emissions reduction and energy policy in the national energy laws, and provide greater clarity to Australia’s three energy market bodies — the Australian Energy Market Commission (AEMC), the Australian Energy Market Operator (AEMO) and the Australian Energy Regulator (AER) — to consider emissions reduction in how they undertake their respective powers and functions.
The amendment will also send a clear signal to wider industry, market participants, investors and the public, of the governments’ commitment to achieve a decarbonised, modern and reliable grid.
The national energy objectives are contained in the National Electricity Law, the National Energy Retail Law and the National Gas Law — the laws that govern the national electricity, gas and related retail markets.
Process and timeframes
On 20 December 2022, the draft National Energy Laws Amendment (Emissions Reduction Objectives) Bill 2022 and consultation paper were released for a seven-week public consultation. Submissions closed on 7 February 2023.
Over 50 submissions were received, and all submissions not marked confidential are accessible below. Officials are using this stakeholder feedback to inform the development of the final legislative package for these reforms.
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