Australian Energy Regulator Acting Chairman, Andrew Reeves, will today discuss the major transformations underway in the energy sector and how they will impact the services delivered by the electricity network over the next 10 years. Mr Reeves will present at the Energy Networks Association’s 2014 Regulation Seminar in Brisbane.
“Battery storage, electric vehicles and smart appliances will change the way both the industry and consumers think about electricity usage. It is no longer just a one-way flow of electricity from large generators to end-users,” Mr Reeves said.
“The community has a substantial investment in the existing energy network. While there are challenges from solar PV and potentially from battery storage, it is important that the network continues to be used to provide services that customers value. In the past, the network has provided one-way flow of electricity from large generators to consumers. In the future, the network will support two-way trade in electricity services.”
In his speech, Mr Reeves will highlight how energy network regulation can accommodate the changes in technology and market developments.
“It is not possible to regulate for innovation. In an era of rapidly changing technology and customer preferences, competition, where possible, will deliver the best outcomes for consumers. The current regulatory framework is based on the principles that competition and real choice produces better outcomes for customers it is important that these principles continue to drive developments in the regulatory framework,” Mr Reeves said.