Former chief scientist Alan Finkel, former Telstra boss Andrew Penn and former regulator Audrey Zibelman appointed to SEC.
will need to proceed carefully to avoid crowding out private sector investment, as he joins former Telstra boss Andy Penn and the former regulator Audrey Zibelman overseeing the government-owned energy operator.
The appointments represent a coup for the state government which is facing criticism from energy experts over how the controversial plan will work. The commission will take majority stakes in renewable energy projects designed to replace electricity supply gaps created by the phasing down of coal-fired plants.Many in the energy sector have voiced concerns that the revival of the SEC will stifle the private investment needed to drive Australia’s energy transition and the neuroscientist and engineer Dr Finkel acknowledged that challenge on Tuesday.
He acknowledged the role of gas as a transition fuel but said the long-term goal was to reach a zero emission electricity supply as quickly and sensibly as possible. Matthew Rennie, managing director at independent transition consultant Rennie Advisory, agreed the panel needed to carefully avoid crowding out the private sector.
“While the mix of skills and experience on the panel is formidable, they will need to be given enough time, and enough support, to both design and implement a solution that enables the right mix of investment within the design of the current market.”
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