Commentary
The governments of Australia are, for the first time in many years, in agreement about the future of the energy industry. This was the key message from the recent energy meeting between the federal energy minister, Chris Bowen, and the various state ministers. Even a Liberal Party minister, Matt Kean of New South Wales (NSW), did not seem disappointed or out of place at the summit; he explicitly celebrated the federalisation of energy policy, praising the USA’s approach.
The new energy policy embraced a firm decision to decarbonise Australia’s electricity sector. An emissions reduction target will be written into the National Electricity Objective. In addition, the Australian Energy Market Operator (AEMO) will be given expanded powers….