About energy security measures under the Clean Energy Future package
As part of the Australian Government’s Clean Energy Future package announced on 10 July 2011, a series of measures has been established to facilitate a smooth energy market transition when the carbon price commences on 1 July 2012.
The measures aim to ensure energy security and market stability through targeted support for emissions-intensive electricity generators. In designing the energy security measures, the government sought advice from Australia's key energy market bodies.
- Energy Security Fund
The Energy Security Fund is a key element of the Clean Energy Future package. As part of the fund, the government will provide transitional assistance to highly emissions-intensive coal-fired generators as well as seek to negotiate payments for closure.
- Energy Security Council
The Energy Security Council aims to advise government on possible support measures to address energy security risks. The Treasury has oversight responsibility of the Energy Security Council and the associated support measures for electricity generators.
- Energy Sector Transition Committee
The implementation of the energy security measures associated with a carbon price is coordinated through the Energy Sector Transition Committee, chaired by the Secretaries of the Department of Resources, Energy and Tourism (RET) and the Department of Climate Change and Energy Efficiency. The committee includes representatives from the Commonwealth, state and territory agencies, energy market bodies, and industry. The government is working through this committee to consult with industry and ensure energy market stakeholders are engaged in the implementation of the energy security measures.
- Energy Transition Plan
An Energy Transition Plan (see Related documents) provides an overview of the planning and implementation being undertaken within Commonwealth agencies for each energy security measure. The plan is a dynamic document which will be revised from time to time.
For more information about the energy security measures and the carbon price, read the Transforming Australia's Electricity Generation Sector fact sheet (see Related documents) or contact email@example.com.