With reliable power in short supply this coming Summer (and beyond), PM, Malcolm Turnbull was bound to act. In yesterday’s post, we detailed how the National Energy Guarantee is meant to work, what it does and what it will not do.
At the heart of the NEG is a simple objective: keep everyone’s lights and air conditioners on, when temperatures rise along with the demand for power.
Australia will go down in history as the Nation with the most abundant energy reserves on the Planet and, paradoxically, the most expensive and unreliable delivery of electricity in the world.
The NEG might be said to be too little, too late.
STT sees the NEG as heavy-handed government intervention, the consequence of earlier heavy-handed government intervention, being the Federal government’s Large-Scale RET.
How the NEG operates in practice, and whether it achieves its objective, is down to the Energy Security Board…
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