Insights

22/12/17

Australian Energy Regulatory Market Update | Period up to 19 December 2017

Well, this brings us to our last energy regulatory update for 2017.  What a year it has been.

 In this final, bumper Christmas edition:

  • The ACCC published its second interim report in its ongoing wholesale gas inquiry, finding that there was some short term improvements in market conditions but room for further improvement.
     
  • The AER had a particularly busy fortnight, with the release of its demand management incentive scheme, new Financial Reporting Guidelines for Non-scheme Pipelines, its first report into wholesale electricity market using new market monitoring powers, commencement of a review of its regulatory investment test guidelines and a number of other decisions.
     
  • The AEMC released estimates that national residential electricity prices will fall over the next two years, and made a rule change to support a competitive market in ‘behind the meter’ batteries and other distributed energy resources.
     
  • The clean energy regulator conducted its sixth auction for the Emissions Reduction Fund.

Also making news was the announcement this week by Telstra that it is investing in a long term PPA underwriting a 70MW solar farm in North Queensland as a hedge on future power prices.  Those who followed our global insights tour back in January will recall that leadership by major corporates in energy policy has been a trend in the United States for a number of years, which has been slower to take shape here.  Perhaps this is a sign of more to come in 2018 from the corporates?

Thank you all for subscribing to our updates, we’ll be back again in the new year for what will no doubt be another eventful year in energy policy. 

From all the team at Gilbert + Tobin – we wish you a safe and refreshing Christmas and holiday season.

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