D26 Electricity Supply

New threat to power supply

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Original article by Mark Ludlow, Angela Macdonald-Smith
The Australian Financial Review – Page: 1 & 6 : 20-Sep-17

Consumers and businesses face further electricity price rises as operators of coal-fired power plants in New South Wales are having to pay higher prices for coal under new supply contracts. NSW power stations’ coal usage has also risen sharply in the wake of the closure of the Hazelwood plant in Victoria, while the state’s coal mines are struggling to meet demand as 80 per cent of their output is exported. Limited capacity on the NSW rail freight network is also a challenge for power generators, while there is an ongoing industrial dispute at Glencore’s coal mines.

CORPORATES
GLENCORE PLC, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AGL ENERGY LIMITED – ASX AGL, ENERGYAUSTRALIA PTY LTD, DELTA ELECTRICITY AUSTRALIA PTY LTD, AUSTRALIAN ENERGY COUNCIL

Coal plants hold key to ‘cheap energy, CO2 cuts’

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Original article by Ben Potter
The Australian Financial Review – Page: 5 : 28-Jul-17

Engineers from GE argue that it would cost between $A57m and $A114m to retrofit Australia’s existing coal-fired power stations to produce more electricity and reduce their greenhouse gas emissions. They estimate that these plant could generate an additional 1,000MW to 1,500MW while cutting their carbon emissions by about 19 million tonnes. Australia’s remaining coal-fired power stations are slated for closure by 2050.

CORPORATES
GENERAL ELECTRIC COMPANY, ENERGYAUSTRALIA PTY LTD, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, TESLA INCORPORATED, NEOEN, DEAKIN UNIVERSITY, MINERALS COUNCIL OF AUSTRALIA

AGL makes a ‘stack of profit’ from coal

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Original article by Mark Ludlow
The Australian Financial Review – Page: 11 : 23-Jun-17

Whitehaven Coal CEO Paul Flynn says Professor Alan Finkel’s predictions concerning the reduced cost of generating electricity from renewable energy sources are ambitious. Flynn, also used a speech at a Brisbane Mining Club function to lambast firms such as AGL Energy for promoting their commitment to renewable energy in their advertising, while noting that they will still be earning profits from electricity generated from coal-fired power stations for some years to come.

CORPORATES
WHITEHAVEN COAL LIMITED – ASX WHC, BRISBANE MINING CLUB PTY LTD, AGL ENERGY LIMITED – ASX AGL, MINERALS COUNCIL OF AUSTRALIA, NATIONAL PRESS CLUB (AUSTRALIA), AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

20pc power price shock hits home; Energy Australia urges Finkel blueprint

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Original article by Ben Potter
The Australian Financial Review – Page: 1 : 16-Jun-17

Energy Australia has announced large price increases for its gas and electricity customers in New South Wales and South Australia. The increases – of up to 20 per cent – take effect as from 1 July 2017, and come as the Turnbull government deliberates on whether to adopt the Finkel’s energy review recommendations. Kim Clarke, Energy Australia’s chief customer officer, says the Finkel review represents a good "blueprint" for Australia’s future energy needs.

CORPORATES
ENERGYAUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AGL ENERGY LIMITED – ASX AGL, ACTEWAGL, CARBON CONSERVATION PTY LTD, ST VINCENT DE PAUL SOCIETY

Giant $8 billion offshore Victoria wind farm studied

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Original article by Ben Potter
The Australian Financial Review – Page: Online : 2-Jun-17

Offshore Energy has been formed to examine the feasiblity of constructing a large wind farm off the Gippsland coast in Victoria. Andy Evans and Terry Kallis, the men behind Offshore Energy, believe that wind conditions off Gippsland are similar to those off Denmark, which is regarded as the world leader in offshore wind farms. The $A8 billion wind farm they are contemplating would take around 10 years to build, and would have the capacity to generate enough power for 1.2 million homes.

CORPORATES
OFFSHORE ENERGY PTY LTD, ACCIONA SA, ELECTRANET SA, PETRATHERM LIMITED – ASX PTR, WSP ENVIRONMENTAL PTY LTD, PARSONS BRINCKERHOFF AUSTRALIA PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. CLEAN ENERGY FINANCE CORPORATION, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION

Energy bills soar in shift from coal power stations

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Original article by Kylar Loussikian
The Australian – Page: 1 : 4-Jan-17

Electricity companies are raising consumer prices by as much as 25 per cent. Red Energy explained that prices must be raised because of the higher wholesale cost of electricity and the renewable energy certificates. In Victoria, where the Hazelwood power station will be closed in March 2017, EnergyAustralia and AGL increased electricity tariffs by $A135 and $A132 on average respectively for 2017.

CORPORATES
ENERGYAUSTRALIA PTY LTD, AGL ENERGY LIMITED – ASX AGL, RED ENERGY PTY LTD, AUSTRALIAN ENERGY COUNCIL, SNOWY HYDRO LIMITED, MINERALS COUNCIL OF AUSTRALIA, QUEENSLAND. COMPETITION AUTHORITY

Power employees told to bend for plant’s survival

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Original article by Nick Toscano
The Sydney Morning Herald – Page: 20 : 23-Dec-16

Members of the Electrical Trades Union intend to stop work for an hour at the Loy Yang A power station in Victoria on 25 December 2016. The union and AGL Energy cannot agree over the terms of a new workplace agreement. AGL’s head of Loy Yang, Steve Rieniets, says changes in labour practices are necessary to ensure viability of the plant.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, ELECTRICAL TRADES UNION, CONSTRUCTION, FORESTRY, MINING AND ENERGY UNION OF AUSTRALIA

DUET investors buoyed by CKI’s $7.3b offer

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 11 & 24 : 6-Dec-16

Shares in DUET Group closed at $2.74 on 5 December 2016, after reaching an intra-day high of $A2.82. Hong Kong-based Cheung Kong Infrastructure has proposed to pay $A3 per share for the energy infrastructure group, whose assets include the Dampier-Bunbury gas pipeline in Western Australia. However, DUET has noted that the offer is unsolicited and not binding, and there is no certainty that CKI will make a formal bid. Mark Busuttil of JP Morgan says the offer represents full value and a rival bid is unlikely.

CORPORATES
DUET GROUP – ASX DUE, CHEUNG KONG INFRASTRUCTURE HOLDINGS LIMITED, JP MORGAN AUSTRALIA LIMITED, RARE INFRASTRUCTURE, ARGO INVESTMENTS LIMITED – ASX ARG, UNISUPER LIMITED, RBC CAPITAL MARKETS, 4D INFRASTRUCTURE PTY LTD, CITIGROUP PTY LTD, AUSGRID PTY LTD, STATE GRID CORPORATION OF CHINA, AUSTRALIA. DEPT OF THE TREASURY

No Hazelwood, no energy plan

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Original article by Jennifer Hewett
The Australian Financial Review – Page: 2 : 4-Nov-16

The closure of Hazelwood power station will have serious economic consequences for Victoria’s Latrobe Valley region as 750 workers will lose their jobs. Both state and Federal Governments have promised financial assistance, with the latter to provide $A43 million in aid. Victorian Premier Daniel Andrews insists that the decision of majority owner Engie to close Hazelwood has nothing to do with the state’s energy policy.

CORPORATES
ENGIE SA, AUSTRALIAN ENERGY COUNCIL, MINERALS COUNCIL OF AUSTRALIA, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED

Origin Energy to ditch coal assets as it cuts carbon burden

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Original article by Mark Ludlow
The Australian Financial Review – Page: 10 : 21-Oct-15

Australian-listed Origin Energy has become the first energy group in the world to commit to all seven principles of the Carbon Disclosure Project. Origin will tell shareholders at its 2015 AGM that it will close down its Eraring coal-fired power station within two decades, with the aim of eventually generating all of its electricity via renewable sources. MD Grant King notes that energy companies account for 66 per cent of global carbon emissions.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, CARBON DISCLOSURE PROJECT, AGL ENERGY LIMITED – ASX AGL