D26 Electricity Supply

Leave RET alone, urge fund managers

roymorgansocial Leave a comment

Original article by Andrew Main
The Australian – Page: 19 : 30-Sep-14

One option recommended by business leader Dick Warburton in his review of the Renewable Energy Target (RET) for the Australian Government is to reduce it from 41,000 gigawatt hours by 2020 to between 17,000 and 25,000. However the original RET is being strongly favoured by the Investor Group on Climate Change that represents some $A1trn worth of superannuation fund accounts. The lobbying body, which is chaired by Catholic Super CEO Frank Pegan, has started a public awareness campaign on the issue

CORPORATES
INVESTOR GROUP ON CLIMATE CHANGE, CATHOLIC SUPERANNUATION AND RETIREMENT FUND, AUSTRALIAN LABOR PARTY, AUSTRALIA. CLIMATE CHANGE AUTHORITY, AUSTRALIANSUPER PTY LTD, AMP CAPITAL INVESTORS LIMITED, AMP LIMITED – ASX AMP

‘Green’ paper smells foul to some

roymorgansocial Leave a comment

Original article by Lucille Keen
The Australian Financial Review – Page: 11 : 24-Sep-14

The Australian Government’s energy proposals may increase the price of power for many households. The "green" paper proposes changes in the pricing of electricity to give consumers greater control over their use of energy. Narelle Rothery of South Australia said that it would be difficult for families to move household power usage to off-peak periods

CORPORATES
GREEN INITIATIVES PTY LTD

States under pressure to privatise energy networks

roymorgansocial Leave a comment

Original article by David Crowe
The Australian – Page: 6 : 19-Sep-14

The Australian Government is pushing ahead with its agenda to encourage the states to invest in infrastructure with the proceeds of asset sales. It will provide the Queensland Government with a $A1bn incentive if the state proceeds with the sale of electric power assets. However, Federal Treasury Joe Hockey says the incentive will not be available indefinitely and other states may receive the payment if Queensland does not act promptly

CORPORATES
AUSTRALIA. DEPT OF THE TREASURY, QUEENSLAND. TREASURY, ERGON ENERGY CORPORATION LIMITED, ENERGEX LIMITED, POWERLINK PTY LTD, GROUP OF TWENTY (G-20), INTERNATIONAL MONETARY FUND

Aluminium could win RET exemption

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 7 : 18-Sep-14

There is some support for exempting the aluminium industry from the Renewable Energy Target (RET). Australian Labor Party Leader Bill Shorten is sympathetic to the unique position of the industry. Miles George, the CEO of renewable energy company Infigen Energy, conceded that the aluminium industry is a special case. However, all parties have warned that undermining the RET would threaten investment and jobs in the renewable energy sector

CORPORATES
INFIGEN ENERGY LIMITED – ASX IFN, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, IFM INVESTORS PTY LTD

Review signals overhaul of RET

roymorgansocial Leave a comment

Original article by Sid Maher
The Australian – Page: 1 & 2 : 29-Aug-14

A review deems the Renewable Energy Target (RET) to be a costly means of carbon abatement that undermines national productivity. The review panel’s recommendations offer Prime Minister Tony Abbott guidelines to greatly reduce subsidies for solar rooftop panels and wind farms. The renewable energy sector is upset by the review findings, whereas the Energy Supply Association of Australia says the RET risks making the overall energy market "uninvestable"

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN ALUMINIUM COUNCIL LIMITED, ENERGY SUPPLY ASSOCIATION OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE ENVIRONMENT, THE AUSTRALIAN INDUSTRY GROUP, CLEAN ENERGY COUNCIL LIMITED, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN SOLAR COUNCIL LIMITED

Giant solar farm project killed off

roymorgansocial Leave a comment

Original article by Bridie Smith, Lisa Cox, Peter Hannam
The Age – Page: 8 : 19-Aug-14

Silex Systems has dropped its $A420 million solar energy project. It had planned to build a 2,000-dish solar farm near Mildura in Victoria. Silex CEO Michael Goldsworthy said that the project would not proceed because of uncertainty about the national Renewable Energy Target and low wholesale power prices

CORPORATES
SILEX SYSTEMS LIMITED – ASX SLX, AUSTRALIAN SOLAR COUNCIL LIMITED, PALMER UNITED PARTY, AUSTRALIAN LABOR PARTY, AUSTRALIAN GREENS

Abbott’s plan to axe RET

roymorgansocial Leave a comment

Original article by Phillip Coorey
The Australian Financial Review – Page: 1/ & 4 : 18-Aug-14

The Australian Government is believed to planning to abolish the Renewable Energy Target (RET), and will get Dick Warburton to examine this option. Warburton’s review of the RET recommended that it be scaled back, but any such move would be opposed by the Palmer United Party, which does not want changes to the RET before the next federal election. Infigen Energy MD Miles George has expressed concern about the potential impact of any changes to the RET

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, PALMER UNITED PARTY, INFIGEN ENERGY LIMITED – ASX IFN, AUSTRALIA. DEPT OF THE ENVIRONMENT, AUSTRALIA. DEPT OF FINANCE, CLIMATE INSTITUTE (AUSTRALIA) LIMITED

Alinta eyes Lumo in east coast push

roymorgansocial Leave a comment

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 17 : 5-Aug-14

New Zealand-based Infratil is divesting its Lumo Energy gas and electricity retailing business in Australia. Alinta Energy has joined Pacific Hydro and M2 Telecommunications as a potential acquirer, as the utility continues its expansion from the home market of Western Australia into the eastern states. However CEO Jeff Dimery notes that the recent over-supply of electricity due to new wind power plants means he will seek lower prices for generation assets on the market after privatisations in Queensland and New South Wales. Alinta has been owned by US private equity firm TPG Capital since the beginning of 2011

CORPORATES
ALINTA ENERGY (AUSTRALIA) PTY LTD, INFRATIL LIMITED – ASX IFZ, LUMO ENERGY AUSTRALIA PTY LTD, M2 GROUP LIMITED – ASX MTU, PACIFIC HYDRO LIMITED, IFM RENEWABLE ENERGY PTY LTD, IFM INVESTORS PTY LTD, TPG CAPITAL LP, SINGAPORE POWER LIMITED, BABCOCK AND BROWN LIMITED

Case for electricity tariff reform ‘clear’

roymorgansocial Leave a comment

Original article by Adam Creighton
The Australian – Page: 18 : 18-Jul-14

AGL Energy’s chief economist, Paul Simshauser, argues that adopting an electric power tariff system based on the time of use could boost economic activity. He estimates that productivity could potentially increase by around $A1.6bn annually. Research by AGL suggests that nearly 66 per cent of Australian households that take up time-based tariffs are financially better off. He says an opt-out system for flexible tariffs may be the best approach

CORPORATES
AGL ENERGY LIMITED – ASX AGK

GE urges certainty on RET

roymorgansocial Leave a comment

Original article by Geoff Elliott
The Australian – Page: 17 & 23 : 17-Jul-14

Business leader Dick Warburton has been asked by the Australian Government to review the renewable energy target (RET), currently set at 20% of electricity in 2020 to come from sources such as wind and solar power. However ministers such as Treasurer Joe Hockey have already made unfavourable comments about the RET, and the industry is concerned. Some $A3.5bn worth of investment in renewable sources by global group GE may be in jeopardy according to vice-chair John Rice, unless clarity is offered soon

CORPORATES
GENERAL ELECTRIC COMPANY, AUSTRALIA. DEPT OF THE TREASURY, REPUBLICAN PARTY (UNITED STATES), IFM INVESTORS PTY LTD, ACCIONA SA, ACCIONA ENERGY OCEANIA PTY LTD, GE AUSTRALIA AND NEW ZEALAND