The Australian Energy Regulator today released its Strategic Statement to guide the organisation’s growth in an increasingly dynamic energy sector and ensure the regulator is best positioned in the new environment to deliver value to consumers.
The Strategic Statement outlines the Australian Energy Regulator’s (AER) key objectives and how it achieves these outcomes. The Statement also defines the AER’s purpose as working to make all Australian energy consumers better off now and in the future.
AER board chair Paula Conboy said the regulator is committed to delivering the best possible outcomes for consumers in a time when the energy market is in transition:
“Our work places consumers at the heart of this transition, as we play our part in delivering a secure, reliable and affordable energy future for Australia. We want to see successful businesses thrive and be appropriately rewarded because they meet the needs of consumers. This is best delivered through competition, with regulation advancing the long-term interests of consumers where necessary.”
The Statement outlines the strategic objectives of the AER as:
- Driving effective competition where feasible
- Providing effective regulation where competition is not feasible
- Equipping consumers to participate effectively, and protecting those who are unable to safeguard their own interests
- Using its expertise to inform debate about Australia’s energy future, the long-term interests of consumers and the regulatory landscape
- Taking a long-term perspective while also considering the impact on consumers today
Ms Conboy said the Strategic Statement provided the AER with a framework to provide consumers, business, government and all other stakeholders with the information and decisions required to build trust in Australia’s energy system.
“We want to be – and be recognised as – a high-performing regulator. We are ready to explore the boundaries of regulation and take considered risks, where necessary. Our insight into how the regulatory system is working in practice means we have a responsibility to help make the regime fit for purpose and able to cope with future challenges,” said Ms Conboy.