Power Australia will focus on finding solutions to address the so-called energy ‘trilemma’ – a framework that simultaneously provides a high level of energy security and reliability, universal access to affordable energy services, and reduced emissions. This is easier said than done. There is a tension between these three objectives and a careful balancing exercise is required.
The COAG Energy Council has made it clear that the security and reliability of Australia’s electricity supply is paramount and while this is fundamental, it is also critical to reduce emissions and keep electricity affordable.
This high level problem breaks down into a number of complex issues. The key question is this – how can the industry best achieve the required outcomes through the right mix of markets, technology, best practices and standards? Power Australia will focus on the strategies and solutions that will determine the future of the industry to achieve the optimum levels of security and reliability while keeping energy affordable and lowering emissions.
The challenges of “trilemma” will be one of the organizing principles of Power Australia.