The Independent Review into the Future Security of the National Electricity Market, or Finkel Review, released a Preliminary Report in December 2016. The purpose of the Review is to advise the Government on a national reform blueprint for the National Electricity Market (NEM).

ASBEC has provided a submission to this review, noting the immense potential of the built environment to assist in harmonising and advancing the priorities of energy reliability, affordability and emissions reduction.

Implementation of an appropriate suite of policy measures could deliver almost $20 billion in financial savings by 2030, in addition to productivity benefits and improvements in quality of life for Australian businesses and households. Buildings could also meet over half of the national energy productivity target, and more than one quarter of the national emissions target.

The cost of inaction in the built environment could lead to over $24 billion in wasted energy and over 170 megatonnes of lost emission reduction opportunities, through lock-in of emissions intensive assets and equipment.

Read the full ASBEC submission here.