The Energy Security Board (ESB) was established by the nation’s energy ministers to develop a long-term, fit-for-purpose national electricity market design for Australia that could apply from the mid-2020s. The ESB’s advice includes recommendations across 4 reform pathways:
- allow consumers to benefit from rapidly changing technologies in our power system
- unlock the value of flexible demand and distributed energy resources
- work alongside government schemes which are delivering on their policy commitments including emissions reduction
- provide clear signals for timely and efficient investment to deliver reliable, secure, and affordable electricity for consumers.
National Cabinet also agreed and adopted the ESB’s recommended principles.