The draft report recommends measures that will strengthen the act; Allens said it will build on the established success of the legislation in reducing energy use, household power bills and greenhouse gas emissions.

According to the firm, recommendations contained within the report include “expanding the act to allow its potential application to new high energy using products,” and “streamlining the registration process for products covered by the act.”

Provisions also focus on improving the effectiveness of the energy rating label, strengthening enforcement of compliance, and expediting the development and implementation of regulations.

Acknowledging that energy use patterns have “transformed” over the six years since the Greenhouse and Energy Minimum Standards Act 2012 was introduced, Ms Collyer said the review “has provided an opportunity to catalogue changes that have stemmed from new technologies, the different ways we use appliances and equipment and the increasing connectedness of appliances, as well as reviewing international best practice legislation.”

She said the new report “demonstrates the potential for measures that reduce demand for energy to assist in managing the supply/demand balance in the current market transition.”

“Allens’ involvement in this review continues to build our in-depth understanding of the energy market functioning and the development of regulation that impacts that market,” she continued.

Regulations within the act have saved Australian households between $140 and $220 on their electricity bill each year, Allens said, resulting in net savings to the Australian economy ranging between $862 million and $1.64 billion.

VIEW ALL

It has also prevented between 4.6 million and 7.4 million tonnes of greenhouse gas emissions, the statement said.

Submissions on the draft report are now open, while the final report is expected to be delivered in 2019.