Turnbull energy plan to be revealed
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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