1. Skip to Menu
  2. Skip to Content
  3. Skip to Footer

News & Media

New cost from ASIC reforms to hit to power sector- July 10 2012

REFORMS to the electricity sector proposed by the Australian Securities & Investments Commission will drive up costs, increase risk and stifle competition, suppliers have warned.

In a development sure to stoke business community concerns that they face an onslaught of new regulatory imposts across a number of sectors, the four peak groups for energy suppliers, retailers and power stations have presented a rare united front and written to ASIC urging it to reconsider the plan.

The ASIC proposal overhauls financial requirements for holders of Australian Financial Services Licences and trading on the over-the-counter electricity derivatives market.



Abbott still set on solar energy plan- July 9 2012

Opposition Leader Tony Abbott says it would be a "good thing" if the coalition met its target to subsidise more solar energy-powered homes.

The coalition's direct action plan to address climate change, launched in 2010, set aside $100 million a year to fund solar energy for an extra one million homes by 2020.

Mr Abbott said on Monday the coalition still intended to roll out a solar power scheme.

"Obviously there is a time that has elapsed since the direct action policy was first announced," he told reporters in Perth.

"But yes, we think it would be a very good thing if we could get one million solar roofs by 2020.



VIC Government introduces commercial lighting under VEET- 16 May 2012

On 17 May 2012, the Victorian Government (through the Essential Services Commission) introduced commercial lighting upgrades as a prescribed activity for the creation of Victorian Energy Efficiency Certificates (VEECs) under the Victorian Energy Efficiency Target (VEET).

This means there is financial incentive for owners or tenants of commercial premises to retrofit their premises to include energy efficient lighting. Certificates are created on a ‘deemed basis’ (i.e. the lifetime savings are created upfront, generally for up to ten years). The certificate value will lower the upfront costs and reduce the payback time of the upgrade.



Energy Savings Scheme- January 25 2012

The Energy Savings Scheme ('the Scheme') is a NSW-based mandatory energy efficiency scheme for electricity retailers and other liable parties under the Scheme (see Energy Savings Scheme website).

The Scheme commenced on 1 July 2009 with an energy efficiency target of 0.4 per cent of total electricity sales, which will increase to 4 per cent in 2014.