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13 July 2018

Manufacturing Australia: statement on ACCC electricity blueprint



The ACCC’s final Retail Electricity Pricing Inquiry report offers practical recommendations to boost competition, encourage new entrants and de-risk long term power sector investments. It deserves clear-eyed consideration by State and Federal governments, energy producers and customers alike.

Manufacturing Australia has long argued that we need more supply, more suppliers and more competitive markets if Australia is to meet its international emissions targets while maintaining reliability and reducing electricity prices.

The ACCC’s blueprint is technology agnostic. It charts a course for increased competition without favouring one form of generation over another, but recognises the important role for governments in securing globally competitive energy prices that are in the national interest.

The recommendation that governments should help to de-risk power sector investments by new entrants is important, timely and deserves genuine consideration.

If the ACCC’s plan can reduce market concentration, encourage investment in reliable energy generation by new players and bring minimal risk to governments, it could be a win-win.

Manufacturing Australia looks forward to further consultation on the report’s recommendation.

 

Contact: Ben Eade, Executive Director, 03 9023 9117