Market Reviews: Completed

2017 Energy sector strategic priorities

Reference:
EMO0032
Reviewed by:
AEMC
Date completed:
21-Nov-2017
Overview

The Australian Energy Market Commission has published its advice on the strategic priorities for the Australian energy sector. The advice builds on the recommendations of the Finkel review and was provided to assist the Council in establishing a strategic energy plan by mid-2018.

The Australian Energy Market Commission has published its advice on the strategic priorities for the Australian energy sector. The advice builds on the recommendations of the Finkel review and was provided to assist the Council in establishing a strategic energy plan by mid-2018.

The AEMC’s advice proposes specific priority areas for focus and action, and provides the Council with a set of “tools” to assist it in managing the sector strategically.

Proposed strategic priorities

From among the broad set of industry issues and goals, the proposed priorities relate to:

  • making the market work for consumers, particularly in relation to prices and participation options
  • the need to integrate environment and energy policies
  • key areas requiring market redesign, and
  • improving sectoral governance.

The priorities are put forward as part of a broader work-plan for the industry. The plan reflects all the work being undertaken to implement the agreed recommendations from the Finkel review as well as identifying “gap” areas for decisions and action.

Strategic management tools

The advice also provides the Council with various tools to use in the management of the sector. These include:

  • an analytical framework for mapping all sectoral issues
  • a guide to managing the inter-relationships between issues
  • proposed criteria for making prioritisation decisions
  • a proposed operating cycle to manage the sector strategically.

A contextual description of industry trends and developments is also provided as a foundation set of assumptions on which the strategic priorities and work-plan are based.

The AEMC has worked with the Australian Energy Market Operator (AEMO), Australian Energy Regulator (AER) and Energy Consumers Australia (ECA) in developing this advice. It has been also been informed by extensive consultation and stakeholder engagement processes.

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