Nexa Advisory welcomes the opportunity to respond to the Productivity Commission’s consultation on Pillar 5: Investing in Cheaper, Cleaner Energy and the Net Zero Transformation.
The energy and electricity sector is integral to Australia’s economic productivity and growth. We are currently at a critical juncture to take advantage of a once in a lifetime transformation to our energy system – with the potential to bring significant economic growth, create jobs and ensure that Australia can continue to be an energy powerhouse to the rest of the world.
We propose four key areas where the Productivity Commission can help to unlock the potential of Australia becoming a clean energy superpower:
- The outcome of this Productivity Commission work should inform a renewed Strategic Energy Plan (SEP) by State and Federal Energy Ministers – enabling better whole-of-government alignment for the transition
- Ensure orderly coal exit to provide certainty to bring in the necessary renewable generation, storage and transmission – in addition to improving how the value of emissions reduction is considered both across government decision-making, and by the private sector – including coal-fired power stations.
- Provide certainty to investors to ensure we mitigate capital flight – speeding up approvals for 30 GW of solar, 15 GW of wind and 25 GW / 60 GWh of large-scale battery storage projects in the pipeline
- Undertake an independent review of the role and performance of electricity distribution networks – as the AER is not providing the appropriate oversight to protect the long-term interest of consumers
You can read our full submission here: Nexa Advisory – Productivity Commission Pillar 5 submission