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Potential delay in reaching agreement on National Energy Guarantee

The Queensland Premier officially called an early election to be held 25 November 2017. This means that the planned November COAG Energy Council meeting is unlikely to be able to agree on the National Energy Guarantee (NEG) as it requires all states and territories in the National Electricity Market to agree. The Federal Minister for the Environment and Energy, Josh Frydenberg, is still pushing ahead with modelling the scheme which the Energy Security Board will deliver to the Minister 13 November 2017.

It is not known how soon after the election a government could be formed in Queensland, however with Sportsbet tipping the Liberals to take over in a close race, it may take some time. Until then, the only constant is uncertainty which is proving highly detrimental to investment.