PROPERTY COUNCIL URGES COMMITMENT TO NEG RESOLUTION

Following the progress made on the National Energy Guarantee (NEG) in recent weeks, it is disappointing the Government has stepped back from its plan to fully deliver this vital energy policy framework which would have provided greater certainty for consumers and business.

“Along with other business and industry groups, the Property Council gave its full support to the NEG as a practical way forward to resolving the uncertainty and indecision on energy policy over the past decade which has undermined investor confidence and impacted consumers,” said Ken Morrison, Chief Executive of the Property Council.

“While we acknowledge the Government’s new initiatives to target electricity pricing, adopting the ACCC recommendations alone will not provide a long-term or sustainable solution to bring down energy prices.

“We urge both the Government and Opposition not to abandon the NEG and pursue every possible effort to progress legislation through the Parliament. We simply cannot afford to leave the question of emissions reduction unresolved.

“Leaving action on emissions reduction to the states and territories to pursue a patchwork of inconsistent approaches is not the answer. A coherent national framework is required and we have an unprecedented level of support for the NEG.

“An energy policy without agreed emissions reduction targets does not end the energy stalemate and does not provide the certainty to support new investment in energy supply,” Mr Morrison said.

Media contact:  Matt Francis | M 0467 777 220 |  E mfrancis@propertycouncil.com.au