NO.014

JOINT MEDIA STATEMENT

Hon Peter Costello Treasurer

Hon Ian Macfarlane MP Minister for Industry, Tourism and Resources

APPOINTMENT OF CHAIR OF THE AUSTRALIAN ENERGY REGULATOR

The Treasurer, Peter Costello, and the Minister for Industry, Tourism and Resources,

Ian Macfarlane, today announced the appointment of Mr Steve Edwell to a three

year term as the inaugural Chair of the Australian Energy Regulator (AER).

The AER is a new independent national body which will be responsible for economic

regulation and rule enforcement in Australian energy markets. It has been established

under the TradePracticesAct1974 as a constituent part of the ACCC.

In addition, Mr Edwell has been appointed a member of the AER for a five year

term.

These appointments are on a full time basis with terms expected to begin in

May 2005. By virtue of these appointments, Mr Edwell will also become an associate

member of the Australian Competition and Consumer Commission (ACCC).

In accordance with the Australian Energy Market Agreement 2004, these appointments

were made following consultations with the States and Territories that have

agreed to be subject to the jurisdiction of the AER and only after a majority

of support for the appointments had been obtained.

Mr Edwell is an economist with extensive experience

in economic regulation and competition policy. He is currently the Executive

Director of the Electricity Reform Implementation Unit with Western Australia’s

Office of Energy.

Prior to this, Mr Edwell has worked for the Queensland Government in various

roles including an Executive Director of its Office of Energy and within its

Department of Natural Resources. Mr Edwell has also been a Principal of Green

Edwell Consulting.

The AER will operate within a new regulatory framework which has been agreed

by the Ministerial Council on Energy (MCE), chaired by Mr Macfarlane, and endorsed

by the Council of Australian Governments.

Further information on the AER and the MCE’s energy market governance

reforms is available at www.mce.gov.au.

MELBOURNE

11 March 2005

Contacts:

David Alexander

Treasurer’s Office 03 9650 0244

Kirsty Boazman

Minister for Industry, Tourism & Resources’ Office 02 6277 7580