A coalition of diverse organisations has issued a joint statement emphasising the critical need for a stable and credible policy framework to support the nation’s energy transition.
The statement, backed by representatives from business, industry, consumer advocacy, environmental groups, and social justice organisations, underscores the essential role of Australia’s energy systems in achieving a competitive economy, a just society, and meaningful action on climate change.
The coalition highlights the urgent need for substantial investments in the electricity sector this decade, citing the impending retirement of thermal power stations and the anticipated growth in power demand due to increased electrification across industries, transportation, and buildings.
Key points from the statement include:
- The importance of long-term investments towards net zero emissions and the development of new industries.
- The critical role of both government and private sector funding in supporting the transition.
- The necessity of a credible and consistent energy framework to attract low-cost capital and enable efficient planning across all sectors.
- The significance of Australia’s 2030 emissions and energy targets as foundations for future investments.
- The need for evidence-based, transparent, and consultative planning for the energy future.
The coalition endorses the Integrated System Plan (ISP) as the best roadmap for the National Electricity Market, calling for more renewable energy at all scales, a cost-efficient mix of firming resources, and stronger, smarter transmission and distribution networks.
Addressing cost of living concerns, the statement emphasises the importance of minimising and equitably allocating transition costs to maintain public support.
It also identifies key challenges, including ensuring equitable benefits for communities affected by new energy infrastructure, streamlining assessment processes for essential projects, and enabling all Australians, particularly disadvantaged communities, to benefit from consumer energy resources.
As Australia faces the imminent retirement of aging generators, the coalition urges swift action to refine existing tools and efficiently meet current and future targets.
This collaborative approach aims to limit climate change, improve energy affordability, and establish a new competitive advantage for Australia in the energy sector.
The upcoming meeting of energy and climate ministers presents a crucial opportunity to address these pressing issues and chart a course for Australia’s sustainable energy future.
