Many of you would have seen the Federal Government’s release of the National Energy Guarantee (NEG), which was put forward by the newly formed Energy Security Board.
The Board’s advice and an Overview of the NEG are available here. The NEG is made up of two parts:
- A reliability guaranteeset to deliver the right level of dispatchable energy needed in each state.
- An emissions guaranteeset to contribute to Australia’s international commitments.
As we transition to a clean energy economy, Professionals Australia has advocated the need for policy informed by the expertise, including by engineers who understand the power system. We welcome the advice of the Energy Security Board and note that the Chief Scientist Alan Finkel has endorsed the guarantee as an alternative to his recommended clean energy target.
Did you know accredited engineers earn more money – 31% more on average. You can become an accredited professional engineer with Professionals Australia? Find out more here.
Balancing and integrating the need for energy supply to be reliable and affordable, while also meet our emissions reduction commitments is no easy task. It has been made more difficult because politics has prevented us from taking expert advice and reaching an evidence-based solution.
Workers in this sector want to see policy certainty to underpin greater investment in the sector, and new power supply. They want the transition to a clean energy economy to be carefully managed so the lights stay on, and jobs are secured.
The devil will be in the detail with the Government’s policy and the question is whether the NEG is designed in a way that provides certainty, but also achieves the intended policy outcomes.
A well planned and carefully considered transition to a low-carbon economy could generate huge numbers of jobs in new industries, and Professionals Australia will continue to advocate for the right, market base policy settings on behalf of our members.