Simon Birmingham (SA, Liberal Party, Minister for Education and Training) Share this | Hansard source

At the 10 August COAG Energy Council meeting, the council noted the very detailed work the Energy Security Board has undertaken on the final design of the guarantee, as well as the final modelling that outlines those extensive savings that will accrue to households and to businesses and allow them to have confidence in their investment.

COAG energy ministers are now being provided with a draft of Commonwealth legislation following its endorsement by the coalition party room, and COAG Energy Council ministers have agreed to the release of the exposure draft of the National Electricity Law amendments that would implement the guarantee following confirmation at the Energy Council teleconference that occurred yesterday, 14 August. Ultimately, those amendments will be presented to the council for final approval before being legislated through the state parliaments. The government's intent is to see this work through cooperatively with all Australian states to get the best possible outcomes for Australian households, businesses and the Australian economy, which are lower energy prices that ensure that people can invest and grow jobs with confidence.