The Council of Australian Governments (COAG) meeting has ended and the Federal Energy Minister Josh Frydenberg will be able to move the National Energy Guarantee (NEG) to the next stage.
The next stage will involve taking the legislation to the Coalition party room on Tuesday. If the party room agrees with the draft legislation, there will be a teleconference with COAG and the draft legislation will be released for public consultation.
Minister Frydenberg still believes that legislation will pass in 2018 for a 2020 start. Federal Labor, the two Labor held states (Victoria and Queensland) as well as the Australian Capital Territory are still sceptical. Particularly, Victoria has concerns that the NEG doesn’t seem to support lower power bills, emissions reduction and more renewable energy jobs for the state.
Further details are expected to be made available on Tuesday.
If you would like to know more about the NEG, call Edge on 07 3905 9220 or 1800 334 336 or speak with your Edge Portfolio Manager.