FEDERAL MINISTERS have made a historic decision to back renewables and storage as part of a new 'National Transition Plan' to protect Australians into the future.
At this afternoon's energy crisis meeting in Canberra, Ministers from every State and Territory agreed to pave the way for a clean energy future.
Federal Climate Minister Chris Bowen outlined three key steps from the meeting, which included:
- developing a capacity mechanism, which prioritises storage and renewable energy;
- a gas procurement and storage plan to be coordinated by the Australian Energy Market Operator (AEMO); and
- a National Transition Plan, which has consensus from the Federal Government and all states and territories.
Greg Bourne, Climate Councillor, energy expert, former President of BP Australasia and former advisor to Margaret Thatcher, said: It's about time.
"Finally, a coordinated and clear plan can be developed that will meet the needs of all Australians, rather than leaving the state and territory governments to do all the work, as we saw with the previous federal government.
"The reality is that right now the gas companies are reaping massive profits off our products, while consumers only reap the misery. That just isn't right.
"Thankfully, the new Federal Government is stepping up and seizing the huge clean industry opportunities before us, and at the same time protecting Australians from future price shocks driven by volatile, expensive and unreliable fossil fuels."
"By using the Australian Energy Market Operator's Integrated System Plan (ISP) in combination with a stronger emissions target, a national plan means our energy is likely to be more affordable, reliable, and most importantly reduce emissions without the political time-wasting that has held us back for far too long.
"It's important to note that including coal when developing a capacity mechanism would only increase prices as well as emissions, and wouldn't provide flexible capacity that can be called on quickly.
"After Australia's lost decade on climate action, it finally feels like we are catching up with much of the rest of the world and embracing the future, rather than clinging to the past."
