Failing to develop a comprehensive energy policy will carry a heavy cost in lack of future investment in the infrastructure needed to ensure energy supply can meet future demand, says Australian Pipelines and Gas Association (APGA) CEO Steve Davies.
According to Mr Davies, Australia’s energy system has been described as a slow-moving train wreck travelling through a rapidly changing landscape of disruptive new technologies that offer lots of potential but not yet the supply security and reliability our energy system needs.
“Developing a policy that looks at the nation’s long term energy needs amid continually changing technology and a highly-charged political environment is a very difficult task,” he said.
“But the cost of failing to do so is much higher than we seem capable of imagining.
“Securing our energy future requires making decisions to invest in high-value infrastructure that can be years in development.
“These decisions will not be made unless investors can be sure they will be able to get a return.
“A long term energy policy that has bipartisan support will create the environment needed for these investments.
“Without them, we are jeopardising our future energy supply.”