The Independent Review into the Future Security of the National Electricity Market (the “Finkel Review”) released on June 9th 2017 is an extensive report. It considers a wide range of current and future National Electricity Market (NEM) issues relating to the price, security, reliability and emissions intensity of the NEM and contains over 50 specific recommendations for future improvements – many of which, if implemented by government, would considerably improve the operation of the wholesale market, the electricity grid and outcomes for electricity consumers.
Whilst not perfect, the Finkel Review as a whole does provide a framework for implementing a long term plan that will significantly alter investment behaviour in generation now and over the years to come. Once in place, future governments will have the opportunity to review and adapt aspects of the framework to better meet future policy goals. There are many other recommendations that, if implemented, would significantly improve the way our electricity system is operated and improve outcomes for consumers.
ATA has reviewed the entire report and provides detailed responses to each of the recommendations. You can read ATA’s analysis of the Finkel Review here.
Eight years after Kevin Rudd’s emissions trading scheme was introduced, here we are again: an imperfect policy on climate but one that has broader merit and, in ATA’s view, is substantially better than current arrangements. The ATA will be working to advance the interests of our members and all consumers – particularly with regard to distributed generation, energy efficiency and other demand-side measures – as the Finkel review is considered and acted upon by government and energy market institutions.