Frydenberg hails NEG breakthrough

Minister for Energy and the Environment Josh Frydenberg.

Minister for Energy and the Environment Josh Frydenberg.

Last week’s decision by the COAG Energy Council to progress to the final design stage for the National Energy Guarantee (NEG) is a big step forward, according to Minister for Energy Josh Frydenberg.

Mr Frydenberg says the NEG will deliver a more affordable and reliable energy system as Australia transitions to a lower emissions future.

“Backed by an unprecedented cross-section of business, industry and community groups, the guarantee is a technology neutral energy policy that will drive the right investment in the right place and at the right time to secure Australia’s energy future,” said Mr Frydenberg.

“Modelling undertaken by the Energy Security Board (ESB) shows that wholesale electricity prices will decrease by 23 per cent under the guarantee, flowing through to households and businesses.”

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