Good evening. It is a pleasure to be here tonight representing the Prime Minister.
With my tourism hat on, let me firstly welcome you to Melbourne - the city "you'll never want to leave".
It's the home of Australian football and the sporting capital of Australia.
It's also a melting pot of cultures, reflected in its many restaurants, bars, galleries and theatres.
I am also pleased to welcome you to the Melbourne Convention Centre, a state-of-the-art venue for business events - and an icon of modern, energy-efficient building design with a 6-star environment rating.
Energy efficiency is one of the pillars of energy reform along with continuing investment in the generation and network infrastructure we need to address the challenges of climate change and energy security.
Australia's economy is built on one of the most efficient, reliable and flexible energy markets in the world.
The Australian Government is committed to maintaining that international competitiveness through continuing energy market reform.
Before talking about the reform agenda relevant to network businesses, I want to talk about the investment environment we find ourselves in.
Some estimates predict Australian network businesses will need to spend over $40 billion on network capital in the period to 2030.
New environmental policies such as the expanded Renewable Energy Target and the Carbon Pollution Reduction Scheme will require significant investment in energy infrastructure.
Network businesses are critically important in facilitating the RET objectives.
Investment will be needed to strengthen the grid to manage intermittent renewable sources and extend the network to the new centres of wind, solar and geothermal generation.
My MCE colleagues and I are mindful of the need to get regulatory settings right to encourage that investment.
While energy Ministers cannot interfere in regulatory processes that are, for good reason, at arms length to Government, the Ministerial Council on Energy (MCE) will continue to monitor the investment outlook - I can assure you we are all very motivated to keep the lights on around the nation.
There is no doubt the energy sector is entering a period of great change and the Government has taken a leadership role in facilitating the development and rollout of new network technologies.
We have committed $100 million to the development of more intelligent networks, through the Smart Grid Smart City program, something I know Energy Networks Australia (ENA) members are interested in.
I note ENA's call today for a joint working party to maximise the benefits of national broadband and energy network synergies.
The government is also committed to achieving synergies in these areas and we will continue to consult with industry and other stakeholders as we move forward.
The most recent major institutional reform milestone was the creation of the Australian Energy Market Operator (AEMO) in July.
AEMO joins the other two national energy bodies - the Australian Energy Regulator and the Australian Energy Market Commission - creating a comprehensive set of governance arrangements for Australia's energy markets.
The establishment of AEMO, like earlier reforms, could not have taken place without a significant level of cooperation between government and industry stakeholders.
The further we progress through the reform agenda, the closer we get to having to make very tough decisions.
Bringing on investment means investors must receive an economic return and therefore we must continue to move towards cost-reflective pricing at all levels of the market.
Reforms to ensure proper competition in retail electricity markets will not only provide the right signals for investment - they will benefit consumers when standing alongside appropriate consumer protections.
I am working with my state colleagues on the MCE to pursue further reforms to deliver the investment we need to maintain adequate, reliable and affordable electricity to Australian industry and households into the future.
Let me turn to skills and safety.
Any industry is only as good as the people who work in it.
Ready access to a skilled workforce is vital for the safe and reliable delivery of energy.
The National Refresher Training Recognition Protocol for Emergency Situations, signed tonight on behalf of the MCE, ENA, and the Communications, Electrical and Plumbing Union of Australia (CEPU) is an important labour reform in the energy sector.
This Protocol removes obstacles to line-worker mobility throughout the nation.
A flexible and mobile workforce is important, and it is especially important in an emergency situation.
The Protocol will ensure that before summer - and importantly, the next bushfire season -electricity distribution and transmission line-workers will have access to nationally consistent refresher training.
This will allow them to transit freely between states to perform their work with maximum efficiency and minimal disruption.
The Protocol is an important step in the ongoing harmonisation of the technical and safety regulation of Australia's energy supply industry.
The Energy Technical and Safety Leaders Group, representing governments, industry and unions, also released today the Draft Energy Technical and Safety Harmonisation Enhancement Plan.
The plan has been developed to get rid of red tape and provide regulatory certainty and consistency across jurisdictions.
At the same time, it applies best-practice regulation to ensure public and worker safety.
The draft plan is open for consultation until 9 October 2009 and a final plan will be presented to the December meeting of the Ministerial Council on Energy for agreement and implementation.
As important market participants, I encourage you to provide your views on the Draft Plan, which can be found on the MCE website.
I'd like to also take this opportunity to thank the Energy Leaders Group for the constructive and cooperative approach it has taken in its work.
I know there remain a number of outstanding harmonisation issues to be resolved and some differences of opinion with respect to the degree of prescriptive versus objective-based regulation.
In my view, there is a place for both, but it is important that we get the balance right.
Ladies and gentlemen, energy networks are a critical part of our energy market and the Australian Government is working to achieve a sound framework in which this industry can thrive and grow.
We are also committed to facilitating the long-term infrastructure investments required in energy networks to meet new challenges associated with the integration of renewable and low emission generation sources into our future energy markets.
Thank you.