Standing Council on Energy and Resources Energy Market Reform Package 2012
Publication date: Thursday, 29th November 2012.
On 7 December 2012, the Council of Australian Governments (COAG) endorsed a comprehensive package of national energy market reforms developed collaboratively by the former Standing Council on Energy and Resources to respond to the current challenges of rising electricity prices.
The package of reforms aimed to restore the focus of the electricity market on serving the long term interests of consumers and was built around four key themes:
- strengthening regulation;
- empowering consumers;
- enhancing competition and innovations; and
- ensuring balanced network investment.
Many of the elements built on reform processes that were already underway, or had arisen as part of an independent rule change process, or through a Council initiated review.