The Australian Petroleum Production & Exploration Association (APPEA) today repeated its call for the COAG Energy Council to endorse the framework of the National Energy Guarantee (NEG) to provide the investor confidence needed to make the important, long-term decisions for a reliable, affordable and cleaner energy system.
APPEA Chief Executive Dr Malcolm Roberts said the NEG is an ambitious plan to balance cutting emissions with delivering affordable and secure energy.
“Now is the time to act in Australia’s national interest. Australian households and businesses can no longer afford the costs of yet another cycle of political sparring and policy uncertainty,” Dr Roberts said.
“Australia has already lost a decade because of protest politics and the pursuit of pure process. It is time to end the impasse. The NEG is the only option on the table and it provides the opportunity to reduce emissions without jeopardising reliable electricity supply.
“State governments must not stand in the way of allowing a workable solution to our national energy challenge.”
Dr Roberts said the NEG framework would enable all energy sources to play a role in delivering reliable, affordable and cleaner energy.
“At its simplest, the aim of the NEG is to deliver progressively cleaner, dispatchable energy without the pitfalls of governments picking technology winners,” Dr Roberts said.
“Cleaner-burning and reliable natural gas remains pivotal to ensuring energy security. It is the ideal energy source to complement intermittent renewables.”
Gas-fired generation provides the on-call energy to maintain a reliable electricity grid. International studies show that the increasing penetration of intermittent renewable energy into grids requires support from on-call energy sources such as gas and pumped hydro.
“That is why it’s also imperative that State governments end the bans, moratoriums and regulatory go slows that are preventing the development of our onshore gas resources,” Dr Roberts said.