Energy Chief Calls for Greater Policy Certainty

9 September 2013

Australia's ongoing economic prosperity is reliant on development of its energy resources and a stable, informed policy environment is needed if to maximise future opportunities in the resource sector, the CEO of leading Australian energy company Origin Energy told an audience at the Sydney Law School last week.

"We see situations where policy responses to issues - well intentioned as they may be - are quite destructive and quite negative," Grant King told attendees at the 2013 Kevin McCann Lecture on Energy and Resources Law last week.

"If we want to grow the economy we have to play to our strengths, and our strengths are the development of resources."

On the heels of the federal election, King told attendees that the lack of certainty around energy policy has hampered the energy industry as it seeks to increase its investment in gas and renewable energy sources. In particular he highlighted the continual tinkering with the Renewable Energy Target (RET) and carbon pricing schemes - which underpinned the previous government's energy policies - as creating an unstable investment environment.

"In their original policy and formulation they had many virtues. But in their implementation they were not causing the outcomes people were seeking. In fact, they were causing quite contrary and, arguably, damaging outcomes in respect of the economy."

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