A broad coalition of organizations has released a joint statement highlighting the critical importance of a stable and reliable policy framework to guide the nation’s energy transition.
Shared Vision for a Sustainable Future
The statement, endorsed by representatives from various sectors including business, industry, consumer advocacy, environmental groups, and social justice organizations, emphasizes the crucial role of Australia’s energy systems in achieving a prosperous economy, a just society, and meaningful climate action.
Urgent Need for Investment
The coalition underlines the pressing need for significant investments in the electricity sector this decade, citing the imminent closure of thermal power plants and the projected surge in electricity demand due to increased electrification across sectors like industry, transportation, and buildings.
Key Principles for a Successful Transition
The statement outlines several key principles:
- The necessity of long-term investments to achieve net zero emissions and foster the development of new industries.
- The pivotal role of both government and private sector funding in facilitating the transition.
- The importance of a consistent and credible energy framework to attract affordable capital and enable effective planning across all sectors.
- The significance of Australia’s 2030 emissions and energy targets as the foundation for future investments.
- The need for evidence-based, transparent, and inclusive planning for the nation’s energy future.
Integrated System Plan as a Roadmap
The coalition endorses the Integrated System Plan (ISP) as the optimal roadmap for the National Electricity Market, advocating for more renewable energy at all scales, a cost-effective mix of firming resources, and enhanced, intelligent transmission and distribution networks.
Addressing Affordability and Equity Concerns
To address concerns about the cost of living, the statement emphasizes the importance of minimizing and fairly distributing transition costs to maintain public support.
The statement identifies key challenges, including ensuring equitable outcomes for communities affected by new energy infrastructure, streamlining assessment procedures for critical projects, and ensuring that all Australians, especially disadvantaged communities, can access and benefit from consumer energy resources.
Urgency for Action
With the impending retirement of aging power generators, the coalition calls for urgent action to refine existing tools and efficiently achieve current and future targets.
This collaborative approach aims to mitigate climate change, enhance energy affordability, and establish a new competitive advantage for Australia in the energy sector.
Crucial Opportunity for Policymakers
The forthcoming meeting of energy and climate ministers presents a pivotal opportunity to address these pressing concerns and set a course for Australia’s sustainable energy future.