The Energy Security Board (ESB) has released a series of options for the future design of the National Electricity Market (NEM). These will support delivery of reliable, secure and affordable electricity to households and businesses.
The Post-2025 Market Design Options Paper outlines the reform options considered by the ESB. These include:
- measures to encourage investment in dispatchable generation capacity and retention of existing thermal generation
- improvements to transmission and access arrangements to ensure consumers are the beneficiaries
- enabling better demand side participation and integration of distributed renewable energy resources like rooftop solar.
Angus Taylor MP, Minister for Energy and Emissions Reduction, said the scale of change underway in our electricity system is unprecedented.
‘The post-2025 work is important work and we must get this right to protect consumers from high prices and reliability risks as technologies in the energy sector change,’ the Minister said.
‘With the strong growth in variable renewable energy, the post-2025 reforms will strengthen investment signals to encourage dispatchable capacity and deliver a reliable and secure electricity system with lower emissions.’
‘This important work must deliver affordable, reliable power, supported by the right mix of technologies, deliver value-for-money construction of transmission, where it is needed, and adapt to the significant evolution occurring in our market.’
The Post-2025 Market Design is the most critical energy reform governments have been tasked to deliver by National Cabinet.
The ESB expects to deliver final recommendations on post-2025 market design to energy ministers in June 2021.
Submissions on the Options Paper are welcome and can be made by 9 June 2021.