Energy security has been identified as one of the priorities for the Australian Government. The Government endorsed the development of the National Energy Security Assessment (NESA) to consider the key strategic energy security risks facing Australia currently and in 5, 10 and 15 years.
The NESA’s key finding is that Australia’s level of energy security has decreased in the face of mounting challenges. These challenges are diverse and include new policy initiatives as well as factors outside the control of governments such as the global economic downturn. However, Australia remains a country well endowed with energy resource options, and is therefore able to address many of the issues identified here with appropriate policy settings and market responses.