Draft Energy White Paper 2011

12th December 2011

 

The Minister for Resources and Energy, Martin Ferguson AM MP today launched the draft Energy White Paper for public consultation, alongside the release of the 2011 National Energy Security Assessment and the Strategic Framework for Alternative Transport Fuels.
According to the Minister, the draft White Paper sets out “a long term strategic framework intended to give investors, consumers and planners a clear sense of direction and confidence in our energy future” in an affordable, reliable and sustainable way.
 
The need for a new Energy White Paper
It has been seven years since the release of the last Energy White Paper. Since then, there has been unprecedented change in the Australian energy sector, including; the rise in Australia’s energy exports from $24 billion  to around $69 billion per annum; trebling of global oil prices; an unprecedented scale of investment in the Australian export energy sector; growth in the LNG sector; Australia’s role as the world’s largest coal exporter and a top three uranium producer; and finally, the passing of the Government’s carbon price legislation in November which will drive investment in lower emissions technologies in the years ahead.
The draft White Paper sets out the challenges facing Australia’s energy sector in the near future. It then identifies priority areas in order to overcome those challenges.
Challenges
There is now an unprecedented need for large scale investment in our energy sector.  As such, it will be necessary to;

Energy prices have risen and will continue to rise. As such, it will be necessary to;

Collaboration with global partners is required to accelerate the development and commercialisation of clean energy technologies.
The ongoing support of the broader community is crucial to the effectiveness of this new strategic framework.
Priority Areas
 
The draft Energy White Paper identifies four priority areas for further action in response to the above challenges:
Strengthening the resilience of Australia’s energy-policy framework
Re-invigorating the energy market reform agenda
The Government commits to reinvigorating the energy market reform agenda by:
Developing Australia’s critical energy resources – particularly gas
 
The Government will seek to encourage investment in energy resource development, by:
Accelerating clean energy outcomes
 
The Government will work to accelerate clean energy outcomes by:
Engagement and Consultation Process 
 
The draft Energy White Paper has been developed as a basis for stakeholder consultation. Written public submissions are invited from interested parties by no later than 16 March 2012. This process will be supported by a series of open information sessions to be held in state and territory capital cities.
Further details on the submission and consultation processes are available at www.energywhitepaper.ret.gov.au
 
The draft Energy White Paper is available here. The Minister’s speech is available here.
For more information, contact your Hawker Britton consultant.
 

 

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