COAG Energy Council establishes Energy Security Board

The COAG Energy Council has followed through on its commitment to set up an Energy Security Board (ESB) to oversee the health, security and reliability of the National Energy Market (NEM). The ESB was one of 49 recommendations from the Finkel Review that were adopted by the council last month, and will help coordinate the implementation of the remaining recommendations.

Dr Kerry Schott and Clare Savage have been appointed chair and deputy chair of the ESB, respectively. Dr Schott is the chair of Transgrid, a role from which she will be stepping down, while Savage is executive director policy, energy and climate change of the Business Council of Australia. They will be joined on the board by the heads of the Australian Energy Market Operator, the Australian Energy Regulator and the Australian Energy Market Commission.

As well as coordinating the reform blueprint provided in the Finkel Review, the ESB will provide whole-of-system oversight for energy security and reliability to drive better outcomes for consumers. The board will also deliver an annual Health of the National Electricity Market report to the COAG Energy Council that will track the performance of the system, the risks it faces, opportunities for improvement and affordability issues.