The NFF’s submission supports the development of a program to underwrite new generation investments to address market failure and improve competition in the electricity market. The program follows one of the many recommendations from the Australian Competition and Consumer Commission’s (ACCC) Retail Electricity Pricing Inquiry report. The NFF supports a well-designed program consistent with the intent and objectives of the ACCC’s recommendation and the submissions seeks to clarify several key aspects of the program design. These include: Transferring of risk from investors to taxpayers, the definition of ‘firmed capacity’, redevelopment of existing projects via upgrades or life extensions and its emissions reduction capacity. The NFF welcomes a program which is: technology-neutral, supports low cost dispatchable sources of electricity, and promotes competition in the market.
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