Energy regulation for a low carbon economy: Obstacles and opportunities

The purpose of this article is to map and critically evaluate Australia’s energy regulation landscape with a view to: (a) characterising strengths and weaknesses in Australia’s current energy regime; and (b) recommending policies that can encourage and facilitate Australia’s transition to a low-carbon economy. The authors argue that no single policy instrument can deliver a sustainable energy future, but that a range of measures can all make important contributions, including carbon pricing, mandatory renewable energy targets, energy efficiency measures, and capital subsidies for constructing or installing renewable energy technologies and storage capabilities. In contrast, the current federal government’s Direct Action Plan is unlikely to play any substantial role in achieving a transition to a low-carbon economy and many of the government’s other policies are antithetical to that objective.