THE Northern Territory government has announced plans to reform the state’s energy sector through regulatory amendments and by stimulating a competitive market.

In a statement released last week, Treasurer David Tollner said the state’s Power and Water Corporation has become inefficient and out-dated.

“Cabinet has made a decision to promote competition and efficiency in our power supply and to bring our regulatory arrangements in line with the rest of the country,” Mr Tollner said.

“These reforms aim to reduce pressure on future power costs and prices by encouraging competition; we want to promote choice for consumers and encourage more players in the energy market.

Planned for roll-out in coming years, the government is currently reviewing structural options for the sector and will consult with stakeholders and the community before an amendment bill is issued to parliament.