Labor’s Energy Policy Gives the NEG ‘A Fair Go’ Whilst Pursuing Renewables Path: CCIQ

Thursday 22 November, 2018 | By: Dan Petrie

The Australian Labor Party’s energy announcement has sought to balance the Federal opposition’s dual aims of emissions reductions to 45% whilst supporting a key plank of the National Energy Guarantee (NEG) around energy reliability.

Opposition leader, Bill Shorten has pledged to add more renewables into Australia’s energy mix targeting one million new household battery storage systems by 2025 through a series of government backed subsidies and rebates according to Labor’s policy announcement.

Industry body, the Smart Energy Council estimates that batteries would enable the majority households to achieve savings of more than 60% of an average residential power bills.

The Chamber of Commerce and Industry Queensland (CCIQ) notes that details around small businesses remain somewhat limited.

CCIQ analyst, Olivia Van der Wagen said Labor has adopted large parts of the National Energy Guarantee (NEG) put forward by former Prime Minister, Malcolm Turnbull while seeking to accelerate the transition to renewables.

“Labor’s policy preference for bi-partisanship around a politically vexed issue for both sides of politics is obviously a pragmatic move by Mr Shorten.

“Labor is effectively moving to subsidise the renewables transition for households through a series of rebates but the detail around how this extends to small business is less clear,” Ms Van der Wagen said.

Labor has targeted a 45% reduction in emissions on 2005 levels which CCIQ notes is seeking to do through direct subsidies and distances the opposition from its long held policy position of establishing a carbon price.

CCIQ strongly supports calls for bi-partisanship in ensuring energy policy stability whilst urging Labor to detail its policy to fully encompass the small businesses sector so that it too is afforded the same opportunity to its reduce electricity overheads.

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