The Energy Security Board (ESB) has reappointed its Chair and Deputy Chair to oversee the conclusion of its work on the post-2025 electricity market redesign.
The Australian Energy Council’s Chief Executive, Sarah McNamara, said the continuity created by the reappointment of Dr Kerry Schott and David Swift will be important to enable the ESB to continue its work effectively and efficiently.
“Our members acknowledge the professionalism and expertise that Dr Schott and her team bring to their important work on energy market redesign,” Ms McNamara said.
“The ESB was created as a recommendation of the Finkel Review in 2017. Its major focus has been to consider options for the design of the National Electricity Market (NEM) post-2025.”
Ms McNamara said the ESB was always intended to have a finite time frame.
“Over time, the ESB has been given additional tasks, such as reviewing the Reliability Standard, at the request of state and federal ministers and often under extremely tight timeframes,” Ms McNamara said.
“With significant pressure for ongoing market changes and reforms it is important that reforms are carefully coordinated.
“Currently, the ESB, the Australian Energy Market Commission, the Australian Energy Market Operator and the Australian Energy Regulator are all playing active roles in reform.
“Whilst an increased level of regulatory change is inevitable at a time of major industry transition, it does create its own risks and costs.
“Costs are ultimately borne by consumers, so ensuring the ESB’s remit is tightly focused on its current projects is vital.
“The ongoing leadership of Dr Schott and David Swift will be key to achieving positive results for the market and consumers.”