On 10 August, Energy Ministers in Australia agreed to move the National Energy Guarantee (NEG) proposal forward.
The NEG proposal received “broad support” in Sydney, according to the Sydney Morning Herald.
“Ministers have agreed to take the National Energy Guarantee to the next stage,” stated Josh Frydenberg, Australia’s Energy Minister.
The continuous energy and climate policy focuses on energy reliability and greenhouse gas emission reduction.
The policy aims to reduce energy costs whilst increasing investments in renewables.
“The NEG is a complex reform that requires careful consideration and design,” remarked Kane Thornton, CEO of the Clean Energy Council.
“Many of the conditions proposed… are reasonable and are supported by the clean energy industry, including the call for more frequent reviews and the inclusion of a mechanism that prevents the emissions reduction target being cut in the future.”
“We call on the federal government and all state and territories to keep cool heads and negotiate in good faith to find a compromise that will provide the long-term investment certainty needed to deliver new clean energy generation.”