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The Australian government will implement a plan to boost productivity and reduce the burden of regulation for the energy sector, Minister for Industry Ian Macfarlane said on Thursday.
Ian Macfarlane emphasized that Australia's energy sector is critical to a productive and competitive Australian economy. "It is vital to job creation and encourage ongoing investment in our industries," he said in a speech at the Energy Users Association of Australia national conference.
As the first order of business in the new parliament, the government will introduce legislation to repeal the carbon tax. This will lower energy costs for industry and households.
"As well as repealing the carbon tax there is a real need to address pressures in our electricity and gas markets to ensure these markets operate as efficiently as possible to promote competition and better outcomes for consumers," he added.
"We have also prioritized a new Energy White Paper to ensure industry and consumers can have certainty and confidence in government policy."
Macfarlane also confirmed the Australian government's commitment to strengthening the country's energy security, particularly the East Coast gas supply.
"Australia's energy security is being compromised through slow approval processes and excessive green tape," Macfarlane said.
"There are windows of opportunity which drive these developments and there is fierce international rivalry in the race to secure important markets. Missing those windows will mean a loss of those opportunities for Australia," he said
