On 15 May, Parliamentary Secretary to the Minister for Industry, Bob Baldwin, introduced legislation to repeal the Energy Efficiency Opportunities (EEO) Program.

Since it commenced in 2006, the EEO Program has been successful in assisting Australian industry to achieve significant savings through improved energy efficiency activities.

Minister for Industry, Ian Macfarlane, and Parliamentary Secretary to the Prime Minister, Josh Frydenberg, said Australian businesses would continue to benefit from an economic climate that encourages new investment as the government continues to ease the regulatory burden.

‘Australian businesses are well aware of the impact of higher electricity prices on the bottom line. Since 2006, when the Energy Efficiency Opportunities Program was introduced, businesses have worked to develop energy management capabilities that strengthen their resilience to rising energy prices and other changing economic conditions,’ Mr Macfarlane said.

‘With energy productivity now core business for many Australian industries, industry is best placed to define the right processes to make decisions on how best to manage their energy use,’ Mr Macfarlane said.

In line with the government’s deregulation agenda and commitment to reduce costs for business, the Energy Efficiency Opportunities Act 2006 is intended to be repealed from 29 June 2014.

The government will continue to cooperatively explore options for improving energy productivity through the Energy White Paper process and the Council of Australian Governments’ Energy Council.

The Energy Efficiency Exchange website will continue to provide best practice resource materials for companies seeking information on how to better manage their energy use.

In addition, the Emissions Reduction Fund will help businesses and industry to take direct action to reduce emissions and improve their energy efficiency.

Please contact the EEO hotline on 1300 799 186 if you have any questions.