What the National Energy Guarantee will mean for energy companies, retailers and customers:
* Retailers must have contracts in place to support a minimum amount of dispatchable energy to meet consumer and system needs.
* The average emissions level of electricity sold to consumers must meet the electricity sector's share of Australia's international emissions reduction commitments.
* Australia's current target is to reduce 2005 level emissions by 26 to 28 per cent by 2030.
* Households can expect to save $550 a year (relative to 2018) on their power bills through the 2020s, of which $150 is directly a result of the guarantee.
* Renewables will make up 36 per cent of national energy market generation within 11 years, up from the current 17 per cent.
* Without closing any coal-fired power stations, the share of coal-fired power generation will fall to 60 per cent from 75 per cent.
(Source: Energy Security Board final detailed design.)
Share
