We are pleased that federal, state and territory energy ministers have reaffirmed their commitment to laying the groundwork for a secure, reliable, affordable and lower-emission energy supply for all Australians.

The Finkel Review presents a major opportunity to implement a coherent national blueprint to modernise our electricity system, and they incorporate many of the Business Council’s recommendations. It is therefore reassuring to see that federal, state and territory governments agree on a timeline to implement 49 of the 50 Finkel recommendations.

Preparatory work to design a Clean Energy Target will help maintain momentum and help all parties understand how it can best be implemented. 

However companies will only invest in new electricity infrastructure if they can see a stable policy framework, with minimal government intervention, that will endure whomever is in power. This means ending the ideological wars plaguing our energy system and getting all jurisdictions working together. A comprehensive and truly national policy framework will not be achieved by just some jurisdictions “going it alone”. 

There is plenty more work to do, but ministers have taken a significant step in the right direction and the Business Council looks forward to continuing to work constructively with all parties involved.