At an extraordinary meeting on 7 October 2016, the former Coalition of Australian Governments (COAG) energy ministers agreed to an independent review of the national electricity market to take stock of its current security and reliability and to provide advice to governments on a coordinated national reform blueprint.
Dr Alan Finkel AO, Australia’s Chief Scientist was Chair of the expert panel that conducted the review. Ms Karen Moses FAICD, Ms Chloe Munro, Mr Terry Effeney, Professor Mary O’Kane AC were the members of the expert panel.
About the Blueprint for the Future
The Blueprint for the Future Security of the National Electricity Market (NEM) delivers a plan to maintain security and reliability in the NEM in light of the significant transition underway, including due to rapid technological change.
The blueprint sets out a vision for the future, with 4 key outcomes:
- increased security
- future reliability
- rewarding consumers
- lower emissions.
The vision will be enabled by 3 key pillars:
- an orderly transition
- system planning
- stronger governance.
In preparing the blueprint, the expert panel consulted widely, visiting regulators and operators across Europe and the United States and commissioning a review of best practices from the International Energy Agency.
In Australia, the expert panel held public and private consultations in every region of the NEM, undertaking over 120 individual meetings and receiving over 390 written submissions.
The expert panel would like to express its sincere gratitude to all those who made the time and effort to attend public forums, attend meetings, prepare submissions and provide counsel. The insights provided were invaluable in developing the blueprint. The expert panel is confident that adopting the blueprint will ensure the optimal functioning of Australia’s electricity system into the future.
Final Report 9 June 2017
Dr Alan Finkel AO, Chief Scientist, Chair of the Expert Panel, 2017, Ms Karen Moses FAICD, Ms Chloe Munro, Mr Terry Effeney, Professor Mary O’Kane AC.
Preliminary Report and public submissions
Dr Alan Finkel presented the Preliminary Report of the Review to the Council of Australian Governments (COAG) Leaders’ Meeting on 9 December 2016.
Future security of the National Electricity Market media release 9 December 2016
Report to the Independent Review into the Future Security of the National Electricity Market—Emissions mitigation policies (2017)
The panel commissioned Jacobs to model a range of emissions reduction policies for the NEM. These policies were modelled over the period FY2017-FY2050. The modelling provides key insights on the impacts different policies have on consumers as well as on the NEM’s generation and capacity mix.
Power system security assessment of the future National Electricity Market (2017)
The expert panel commissioned the Melbourne Energy Institute (MEI) to perform a security assessment of a selected set of the emissions reduction policies modelled by Jacobs. MEI’s report includes analysis on future power system security issues under the selected policies. MEI also analysed one of these policies further, looking at the minimum level of synchronous generation required to be online for the secure operation of the NEM.
Speech 21 June: National Electricity Market Reform—Blueprint for the future Australian Government
About the National Electricity Market Australian Government
6th COAG Energy Council Communiqué COAG Energy Council