ACCC energy recommendations welcomed by MCA

THE federal government should underwrite long-term energy contracts to secure private investment in new low-cost power generation capable of meeting the needs of Australian industry, according to a recommendation by the Australian Competition and Consumer Commission.

sponsored-logo
ACCC energy recommendations welcomed by MCA ACCC energy recommendations welcomed by MCA ACCC energy recommendations welcomed by MCA ACCC energy recommendations welcomed by MCA ACCC energy recommendations welcomed by MCA
Minerals Council of Australia CEO Tania Constable said the ACCC had recognised the impact on wholesale energy prices arising from the closure of older and larger coal generation assets and recommended government underwrites longer-term contracts for large commercial and industrial users.
 
"A diverse energy mix will achieve lowest-cost, reliable, low-emissions, sustainable energy for Australia," she said.
 
"Secure power supply agreements would enhance the opportunity for private sector financing of a new coal or gas plant in Australia capable of delivering least-cost power 24-7."
 
Constable said the MCA wanted measures to address policy risks stopping investment in least cost power supplies tha...