AER welcomes increased funding

The Australian Government has today announced that the Australian Energy Regulator’s funding will increase by $67.4 million over the next four years, to commence 1 July 2017.

“We welcome the government’s funding announcement and its commitment to ensuring we are able to meet the demands of our new roles and functions, and the challenges of an increasingly complex energy market,” AER Chair Ms Paula Conboy said.

“The AER has an important role in helping to deliver security, reliability and affordability in energy markets through our work in network regulation, consumer protection and monitoring the effectiveness of wholesale markets.”

“The government’s announcement will strengthen our ability to make Australian energy consumers better off, now and in the future.”

“We look forward to engaging with the COAG Energy Council and our stakeholders as we as we progressively develop our forward work program,” Ms Conboy added.

The Finkel Review highlighted the importance of a well-resourced regulator in the proper functioning of the National Electricity Market.

About the AER

The Australian Energy Regulator regulates energy markets and networks under national legislation and rules in eastern and southern Australia, as well as networks in the Northern Territory. Its functions include:

  • monitoring wholesale electricity and gas markets to ensure energy businesses comply with the legislation and rules, and taking enforcement action where necessary;
  • setting the amount of revenue that network businesses can recover from customers for using networks (electricity poles and wires and gas pipelines) that transport energy;
  • regulating retail energy markets in Queensland, New South Wales, South Australia, Tasmania (electricity only), and the ACT;
  • operating the Energy Made Easy website, which provides a retail price comparator and other information for energy consumers;
  • publishing information on energy markets, including the annual State of the energy market report, to assist participants and the wider community.
Issued date: 
20 June 2017
AER reference: 
NR 16/17
Contact: 
AER Media inquiries 1300 138 917