A new era in energy
The Energy Security Board held its first—of what will be many—meeting in August. Comprised of the heads of the AER (Paula Conboy), AEMC (John Pierce) and AEMO (Audrey Zibelman), the ESB is chaired by Dr. Kerry Schott with Claire Savage as deputy.
The ESB is the result of the COAG Energy Council giving life to Recommendation 7.2 of the Finkel Review and provides whole of system oversight of energy security and reliability in order to drive better outcomes for consumers.
In October the ESB provided the Commonwealth Government with advice on establishing a National Energy Guarantee (NEG). The advice had been sought by Energy Minister Josh Frydenberg in response to AEMO’s report on the risks to reliability in the NEM.
The ESB specifically provided recommendations to support the provision of reliable, secure and affordable electricity in the NEM with a focus on ensuring:
- the reliability of the system is maintained
- the emissions reduction required to meet Australia’s international commitments are achieved
- the above objective are met at the lowest overall cost
Read the ESB’s advice to Ministers on the NEG.