Minister of Energy Pete Hodgson today released the report of the Ministerial Inquiry into the Electricity Industry.

The report was formally delivered to Mr Hodgson yesterday.

“The inquiry panel has recommended a comprehensive and principle-driven approach to improving the efficiency and fairness of the electricity market”, Mr Hodgson said. “I am particularly pleased to see a focus on the needs of consumers, including through majority representation of independent members on the proposed new single market governance board.

“The panel also recommends measures to improve demand-side participation and energy efficiency. I welcome these and the other proposals as promising innovative ways forward for the electricity industry.

“My sincere thanks go to Hon David Caygill and the other panel members, Dr Susan Wakefield and Mr Stephen Kelly for the quality of the work they have undertaken in a short time. They considered 477 written submissions and held three weeks of hearings in five centres. The panel also informed itself of the approaches to electricity governance and regulation in other jurisdictions. The extent of the panel’s work has led directly to the very well-considered report I am releasing today.

“The Government will now carefully consider all the panel’s recommendations. I expect to be able to announce decisions within the next six to seven weeks. Legislation is likely, and I expect to introduce this in October”.

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