A swift action is needed to ensure that Australia will be able to avail of cheaper and greener sources of energy as moves to increase its current renewable energy generation continue.
“Any delay, or worse a failure to reach agreement, will simply prolong the current investment uncertainty and deny customers more affordable energy,” said Energy Security Board (ESB) chairwoman Kerry Schott in a report.
The ESB is tasked to coordinate the implementation of the so-called reform blueprint, referring to the plan to maintain security and reliability of sources of energy in Australia. Meanwhile, the National Energy Guarantee imposes two obligations on energy retailers, according to a The Guardian report.
These are: supply sufficient quantities of “reliable” power to the market, and reduce emissions over the decade between 2020 and 2030.
According to various reports, the proposed new energy policy may result to a $550 annual savings for most households in Australia.
However, the proposals to gear towards renewable energy is also facing criticisms over the reported increase in harmful greenhouse emission. The Guardian reported that while renewable energy will increase to 34 percent in 2029-2030 from a mere 17 percent in 2017-2018, the coal energy will remain at a staggering 60 percent.
“That head-to-head comparison suggests the Turnbull government’s policy will do almost nothing, in and of itself, to boost renewables in the system,” The Guardian further said, adding that the wholesale electricity rates may actually become lower by at least 20 percent if this proposed energy policy is not signed and implemented.
The Australian government is also facing criticisms as the proposed energy model has yet to be fully disclosed to the public, denying many experts from closely studying it. Researchers are also reported to have been looking forward to validate the proposed energy model.
The Sydney Morning Herald said the ESB’s final report “does not contain detailed modelling the states were awaiting, an absence that could further complicate approval on the plan.”
University of Melbourne energy expert Dylan McConnell said “definitely, there’s something missing,” Mr McConnell said. “[The report] is not the actual modelling.”