Energy white paper – green paper

This Green Paper proposes policy approaches intended to ensure reliable and affordable energy that, when used productively, supports business competitiveness, lowers the cost of living, and grows exports. Submissions are invited from interested stakeholders. Executive summary The Energy White Paper is central to the Australian Government’s economic reform agenda for a strong and prosperous national economy. Reliable and affordable energy, used productively, supports business competitiveness, lowers the cost of living, and grows export income. There is no ‘silver bullet’ to achieve the change needed in the energy sector. Coherent and constructive market reform and properly integrated polices will give industry and consumers confidence in energy policy. Reforms are needed to create competition, and drive innovation and productivity. Competition encourages innovation, leading to better products and services. It also encourages better prices. Competition is best enabled through a deregulated environment. Sometimes, however, regulation is needed to protect consumers and the environment. Competition and deregulation improve productivity. Keeping costs down in the global energy market requires a focus on productivity in the extraction, production, supply and use of energy. Improved productivity will help attract investment, lower the cost of doing business in Australia, and lower household energy costs. The more productive use of energy also reduces Australia’s emissions intensity. This Green Paper includes market reforms designed to attract energy resources investment, stabilise energy price rises, and prepare for the nation’s future energy security