With the final report from the Finkel Review into the future security of the National Electricity Market imminent, here are 10 basic facts about electricity costs, emissions and security to help guide you through it.
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Australia’s energy system is ageing, inefficient and polluting. It is not coping with escalating extreme weather, like heatwaves and storms. It is not adequately adapted to 21st century, smart technology.
In addressing this major issue, The Finkel Review (led by Chief Scientist, Dr Alan Finkel), has been tasked with developing a blueprint for the future of Australia’s national electricity market which:
- Delivers on Australia’s emissions reduction commitments
- Provides affordable electricity, and
- Ensures a high level of security and reliability
The key test of the final report from the Finkel Review will be whether proposed policies and recommendations are consistent with limiting global temperature rise below 2 degrees Celsius, delivering the lowest cost outcome for Australian businesses and households, and ensuring a secure and reliable electricity system into the future.