National Energy Guarantee: Draft Design Consultation Paper

The Property Council of Australia welcomes the opportunity to comment on the Energy Security Board's (ESB) Consultation Paper 'National Energy Guarantee: Draft consultation paper' and provide feedback to the ESB and the Commonwealth on aspects of the draft design.

The property industry has traditionally been a more passive participant in energy markets. Rising wholesale energy costs and an absence of sound policy and market settings has resulted in unprecedented pressures on the costs and availability of electricity and gas for our members' operations, as well as hindering the ability of the sector to become more active participants in energy markets and make the transition to net zero emissions. This is consistent with the strong sustainability mandate of leading members, many having carbon neutral targets or net zero emissions targets before 20.

The Property Council believes that the primary objective of energy markets should be to serve the long-term interests of the consumer as stated in the National Electricity Objective (NEO) and National Gas Objective (NGO). In the last decade, Australia has lost its advantage in reliable and competitively priced energy due to the ongoing and highly partisan debate on energy and climate change policy.

Download the submission below.