TOP 5 QUESTIONS AUSTRALIANS NEED ANSWERED ABOUT THE NATIONAL ENERGY GUARANTEE
- How will the NEG reduce pollution from the electricity sector, and achieve Australia’s 2030 emission reduction targets, given it delivers more coal and gas than ‘business as usual’?
- How will the NEG reduce power prices given it fails to tackle solutions to rising prices identified by the Australian Competition and Consumer Commission (ACCC)? Solutions highlighted by the ACCC included addressing the market power of the big 3 energy companies, affordability of gas, bringing online large-scale renewable energy, and support for consumers.
- How will the NEG address reliability given it fails to deal with key reliability issues raised by the Australian Energy Market Operator - outages or failures of ageing coal generators across the National Energy Market, and the increased vulnerability of the electricity system to extreme weather, particularly heatwaves?
- How will the NEG address reliability given it fails to ensure sufficient new renewable energy capacity is brought online well in advance of inevitable coal closures?
- How will the NEG achieve certainty for investors given the complete lack of detail and / or modelling underpinning the proposal, the complete lack of community engagement or consultation with key stakeholders (the states and territories), and the provision to review the Emissions Guarantee every year (essentially locking in investment uncertainty for the foreseeable future)?