A balanced and sustainable energy solution will return certainty and security to Australian businesses, supporting innovation and competitiveness, says the Australian Steel Institute (ASI).

Furthermore, the ASI says that the National Energy Guarantee (NEG) is a real opportunity to improve energy reliability and put downward pressure on prices. 

“It represents a positive and significant shift in the way that the wholesale electricity market operates,” it says.

According to Australian Steel Institute CEO Tony Dixon, “It is in everyone’s interest that the NEG is implemented.   The ASI understands the details are being worked through and we are encouraged concerns previously raised by industry about the guarantee - such as its impact on retail competition, the contract market, and emissions-intensive trade-exposed industries – are being addressed by the government and the Energy Security Board (ESB).”

The Australian Steel Institute has it that it “encourages the Commonwealth and all states to look forward and to keep working to achieve a pragmatic, but solid solution to Australia’s energy challenge.”

“It is vital for Australian industry and communities that the critical issue of access to energy is resolved, and that stable bi-partisan policy is put in place, which provides the foundation for long-term investment in the electricity sector,” the ASI says.