Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 3 : 7-Feb-19
A Senate committee has been told that a bill to force the divestment of energy assets would create greater uncertainty in the electricity sector. EnergyAustralia MD Catherine Tanna has told the committee that the bill was poorly drafted and there had been insufficient consultation. Frontier Economics has warned of the proposed divestment powers’ impact on investment in the electricity sector. However, others have argued that the reforms are necessary to curb the market power of large vertically integrated electricity suppliers.
ENERGYAUSTRALIA PTY LTD, FRONTIER ECONOMICS PTY LTD, GRATTAN INSTITUTE, BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, UNIVERSITY OF MELBOURNE, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN ENERGY REGULATOR, SIMEC ENERGY
Original article by Greg Bright
The Australian – Page: 6 : 7-Dec-18
The Senate’s standing committee on economics will examine the federal government’s bill to force electricity retailers to divest assets after Labor referred it to the upper house. The lower house debated the bill on 6 December, before parliament rose for the year, but further debate will not be possible until early April as the committee is not slated to report on the bill until 18 March. Shadow treasurer Chris Bowen has accused the government of trying to push the bill through the lower house with no scrutiny and minimal debate.
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS
Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 6-Dec-18
Australia Energy Council CEO Sarah McNamara has flagged a possible legal challenge to the federal government’s legislation to force the divestment of energy assets. McNamara says there is still uncertainty regarding the constitutional validity of the bill, despite a compromise which will require the Federal Court to approve any application for asset sales. The bill is expected to be passed by the lower house after four crossbenchers backed a motion for it to be debated and voted upon before parliament rises for the year.
AUSTRALIAN ENERGY COUNCIL, FEDERAL COURT OF AUSTRALIA, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY
Original article by Ben Packham
The Australian – Page: 4 : 5-Dec-18
The federal government has agreed to a compromise on its proposal to intervene in the electricity market. Following a Coalition joint partyroom meeting, the government has advised that the Federal Court will be required to approve any application for the divestment of energy assets if a power company is found to have manipulated electricity prices. Shadow treasurer Chris Bowen says the policy would deter investment in the energy sector and have no impact on electricity prices. Several Liberal backbenchers have also expressed concern about the policy.
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN ENERGY COUNCIL