Nexa Advisory submission – Electricity and Energy Sector Plan Discussion Paper
Nexa Advisory welcomes the opportunity to share our perspectives and insights on the Federal Government’s Electricity and Energy Sector Plan (the “Plan”). We commend the Federal Government for progressing the development of a plan to reduce emissions in Australia’s electricity and energy sector. Specifically, we appreciate the thoughtful discussion paper from the Department of Climate Change, Energy, the Environment and Water (DCCEEW) that will inform the necessary steps to develop a Net Zero 2050 Plan for Australia.
Nexa Advisory understands the pivotal role for the Electricity and Energy Sector Plan in achieving a successful energy transition, underscoring the need for rapid progression of these key requirements while leaving no one behind in this energy transition:
- Accelerate transmission buildout
- Coal closure certainty
- Establish ambitious targets
- Utilise demand response and smart energy management
- Focus on long duration energy storage
- Increase research and development (R&D) in the energy sector
- Focus on small businesses and regional communities
- Prioritise consumer energy resources (CER)
To accomplish this, setting bold and ambitious targets that go beyond the current goal of reaching 82% renewables by 2030 is essential for achieving meaningful progress in emissions reduction. Australia is already lagging behind in its buildout of renewable energy infrastructure. Therefore, the Plan should set ambitious targets that provide the states with the policy certainty needed to accelerate the deployment of renewable energy resources.
In addition, it is crucial that the federal government ensures the Plan is aligned with the science on mitigating climate change, particularly in achieving a 1.5-degree scenario. The sooner we decarbonise the faster we will develop industries that can be leveraged internationally. By aligning our ambition with a 1.5-degree scenario, Australia has the potential to become a renewable energy superpower, driving innovation and economic growth in the clean energy sector.
Australia is making progress on its clean energy transition, but with abundant accessible and affordable critical minerals and energy resourced from wind and solar, Australia needs to seize its opportunity to reinvent its place in the global energy market by accelerating its ambition to become a renewable energy superpower.
Access our full submission here Nexa Advisory submission – Electricity and Energy Sector Plan Discussion Paper_24022024
