I am advised:
The Government has a long standing commitment to a clean, affordable,
reliable and secure energy system. We are focused on delivering this commitment
through our energy programs and regulatory framework, in conjunction with our
work at COAG Energy Council.
In working towards a secure and affordable energy supply for New South Wales
consumers, the Government is developing Action Plans for Advanced energy; and
Energy efficiency. As part of consultations for these draft Plans, the
Government has proposed around $400 million over 5 years in new spending that
will assist investors and industry accelerate the development and adoption of
renewables, storage, electric vehicles, energy efficiency and demand
management. The final Action Plans are expected to be released later in
2017.
The Government has also participated in the COAG Energy Council's review of
security and reliability of the national electricity market which is a critical
workstream that informs how we can improve a diversified energy mix at a
national level.
The Government submission to the Finkel Review highlighted the key areas of
reform necessary to ensure secure, affordable, reliable and sustainable
National Electricity Market.
New South Wales is in a good situation compared to other states because we
have a diversified energy mix and we are well connected within the National
Electricity Market (NEM) with interconnection with both Queensland and
Victoria.
Additionally we have Snowy and Snowy 2.0, which if this proceeds, will
enable us to more easily manage a significantly higher percentage of
renewables.
In February this year, the Government also announced the establishment of a
New South Wales Energy Security Taskforce which is reviewing New South Wales'
energy system security to ensure that in the complex web of national and State
responsibilities we remain well placed to support our households and businesses
with critical energy supplies.
The Taskforce's Initial Report, released on 22 May 2017, found that New
South Wales is in a good position in terms of energy security and reliability
under normal conditions.
However, in order to ensure New South Wales is in the best position
possible, it provides seven high-level recommendations for the Government to
look into between now and next summer.
The Government will work in line with the intent of the recommendations to
ensure that New South Wales has reviewed its existing energy emergency and
preparedness processes and procedures, as they have not been reviewed for a
number of years.
The Government is also working to provide New South Wales customers with an
affordable energy supply. Our network reform program has resulted in lower
network costs for customers. The recently approved network prices for 2017-18
will mean lower network prices for all New South Wales customers.
We have also increased energy assistance measures to over $1 billion over
four years. This means around 900,000 households are expected to receive around
$250 million in assistance this financial year. This assistance will help ease
the pressures on each household from their electricity and gas bills.
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