Turnbull energy plan to be revealed

Coalition MPs are set to find out how the Turnbull government plans to meet its emissions target while getting power prices down.

Malcolm Turnbull and Josh Frydenberg in parliament

Prime Minister Malcolm Turnbull is set to deliver a new energy plan on Tuesday. (AAP)

NATIONAL ENERGY STRATEGY

* Plan covers affordability, reliability and cutting carbon emissions.

* Modelling on emissions plan (exact title to be made known on Tuesday) shows it will deliver cuts to household bills of more than $90 a year and 20 per cent price reduction for industrial users. Better than projected under clean energy target.

* Rollout of new power generation including renewables, hydro and battery storage, coupled with a "generator reliability obligation" - to ensure demand can be quickly met even at peak times - will deliver emission cuts and ease power prices.

* Emissions reduction trajectory will hit Paris target (reducing emissions to 26-28 per cent on 2005 levels by 2030) on time.

* Generators to give three years notice before closing power plants.

* Retailers to provide consumers with more choice and clearer information.

* Rewards for business and household consumers for managing their demand and sharing their resources, such as solar/battery storage systems.

* More stable and reliable integration of new technology into the grid and protection from natural disasters.

* States to investigate more gas development.

* Gas producers committed to filling predicted domestic shortfall over next two years.

* "Limited merits review" process abolished to stop network businesses jacking up the price they charge for poles and wires.

* Energy Security Board (already established) provides system-wide oversight

* Former Turnbull chief of staff Drew Clarke to chair Australian Energy Market Operator, overseeing market rule changes, and will sit on Energy Security Board.

(Source: Finkel Review; government media statements)


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Source: AAP


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