THE House of Representatives Standing Committee on Economics will hold hearings in Sydney, Melbourne and Canberra for its inquiry into impediments to business investment in Australia.

The chair of the committee, Sarah Henderson MP, said the committee would examine how government at all levels can better support business investment in Australia.

Ms Henderson said, "The committee looks forward to hearing from a range of stakeholders and interested parties to gain a better understanding of the current impediments to business investment."

Public hearings scheduled include:

SYDNEY

Date:     Tuesday, 31 July 2018

Time:     9.15am to 5.15pm

Venue:  Macquarie Room, Parliament House, 6 Macquarie St, Sydney

MELBOURNE

Date:     Wednesday, 1 August 2018

Time:     9.30am to 1.30pm

Venue:  Room G3, Parliament of Victoria Committee Rooms, 55 St Andrews Place, East Melbourne

CANBERRA

Date:     Tuesday, 7 August 2018

Time:     9.15am to 5.00pm

Venue:  Committee Room 2R1, Parliament House, Canberra

Further public hearings will also take place in Canberra during sitting weeks. Program information will be available closer to the event.

All hearings will be webcast live (audio only when outside Canberra).

A number of submissions have been received and are available on the committee’s webpage at: www.aph.gov.au/economics.

Submissions can still be made online or by emailing This email address is being protected from spambots. You need JavaScript enabled to view it..

Further information about the inquiry, including the terms of reference is available on the inquiry webpage.

ends

STAKEHOLDER input is being sought on how best to integrate solar and energy storage into electricity networks to help ensure quality and reliability of supply and lower household power bills.

Released today by Energy Networks Australia and the Australian Energy Market Operator, the Open Energy Networks Consultation Paper proposes options for improving the electricity system to ensure household solar and storage work in harmony and deliver the most value for all customers.

Energy Networks Australia CEO Andrew Dillon said the consultation built on the work of the joint CSIRO-Energy Networks Australia Electricity Network Transformation Roadmap, released in 2017.

“The huge uptake of rooftop solar systems and the increasing growth of both household batteries and electric vehicles poses great opportunity but also significant technical challenges for the distribution and transmission of electricity,” he said.

“This is changing how our energy system has been designed to work for more than a century - from a centralised one-way flow of electricity to consumer to a decentralised system where many households feed power back into the grid.

“Until now, our distribution networks have done a remarkable job as a sponge, soaking up all this solar generation and managing the growing two-way flows.

“However, parts of our networks already can’t handle any more solar and as many of the early adopters also install batteries and buy electric vehicles, we will see major electricity flows that reverse in a millisecond that could cause major problems.”

Mr Dillon said effective management or ‘optimisation’ of a decentralised energy system would not only support its safe and reliable integration into the grid, but also unlock the true value of customer investment in these resources.

“If no action is taken, it will be bad news for everyone, especially consumers,” Mr Dillon said.

“Electricity quality may degrade, with volatile voltage reducing the lifespan of appliances, investment in solar or batteries may take longer to repay as customers are constrained in the amount of electricity they can put back into the grid or they may not even be allowed to connect a new rooftop system if their local area is saturated.

“Without a proper management framework, it also could mean distributors are forced to make costly investments in infrastructure that would push up network charges in household power bills.”

Mr Dillon said there were significant financial benefits to be gained from optimising solar and storage resources.

“The Roadmap identified that getting this optimisation right could avoid some $14 billion worth of investment and ultimately lower household electricity bills by more than $400 a year,” he said.

“Optimising the local grid to get solar and storage working in harmony with the system will maximise value for all. The question we are consulting on is how we best make this happen.”

The paper is available here.

Consultation is open until 3 August, 2018.

ends

FUTURE State Budget surpluses are under threat if monopoly rail operator Aurizon continues with its plans to halt the movement of up to 20 million tonnes of coal each year for the next four years, Queensland Resources Council chief executive Ian Macfarlane said.

Mr Macfarlane said Aurizon told the Australian Stock Exchange in March its action to change rail maintenance practices on the Central Queensland Coal Network would impact on the movement of up to 20 million tonnes of coal per annum.

“Based on that impact, the Queensland Resources Council expects up to $500 million in reduced royalties to the Palaszczuk Government each year. Over four years, the lost royalties could be up to $2 billion. While there was reference to a likely impact of Aurizon’s action in the Budget papers, there was no estimate of the damage,” he said.

In her Budget reply speech to State Parliament, Liberal National Party Leader Deb Frecklington made the very important point that all Queenslanders would pay the cost of Aurizon’s actions.

Ms Frecklington said: “Our royalties are being threatened with a $2 billion hit because of Aurizon’s dispute with the Queensland Competition Authority.”

Mr Macfarlane said the lost royalties to the Queensland Government would mean less funds to reinvest in services and infrastructure for all Queenslanders.

“If Aurizon continued with its threat to stop these tonnages of coal, the wafer-thin budget surpluses of $148 million next financial year (2018-19), the $160 million in 2019-20 and only $110 million in 2020-21 would be quickly wiped out,” Mr Macfarlane said.

www.qrc.org.au

ends

AUSTRALIA's exporters will be awarded for their work creating jobs and driving economic growth at the 56th Australian Export Awards. 

Nominations are now open for the 2018 awards program and all Australian exporters, large and small are eligible to enter. 

There are 13 categories including Digital Technologies, e-Commerce, Health and Biotechnology, Regional Exporting, Small Business and Emerging Exporters.

Australia's exporters make a substantial contribution to our economy. Last year, the Australian Export Awards' 77 national finalists generated more than $3.9 billion in export sales in 2016-17 and employed more than 31,000 people.

This year's event will again feature the Investment Award, honouring an international company or joint venture making a long-term contribution to Australia's economy. Introduced in 2016, this Award recognises businesses that are creating jobs, cultivating innovation and facilitating Australian industry expansion within global supply chains.

Australia's exporters are enjoying unprecedented access to the world as the Turnbull Government pursues Australia's most ambitious trade agenda. 

Earlier this year the Coalition concluded the TPP-11, which aims to eliminate more than 98 per cent of tariffs in a trade zone with a combined GDP of $13.7 trillion, and this month we will launch negotiations for a trade agreement with the European Union. 

These agreements build on the north Asian trade agreements the Coalition secured with China, Japan and Korea. 

The Australian Governemnt is focused on creating new opportunities for Australian exporters so they can sell more of their products and services to the world and employ more Australians. 

Award winners will be announced at the Australian Export Awards in Canberra in December. The awards are co-presented by Austrade and the Australian Chamber of Commerce and Industry.

www.exportawards.gov.au

ends