ELECTRICITY – PRICES – VICTORIA

Energy prices double in year

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Original article by Samantha Hutchinson, Michael Owen, Andrew White
The Australian – Page: 1 & 6 : 30-Jan-18

New figures show that the average wholesale spot energy price in South Australia has risen to nearly $A170 in January 2018, compared with $A84 during the same period in 2017. The average spot price in Victoria has risen from just $A62 to $A139 over the last 12 months. Energy experts warn that more power blackouts and electricity price hikes can be expected due to the state governments’ focus on renewable energy targets rather than ensuring a reliable baseload energy supply.

CORPORATES
GRATTAN INSTITUTE, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, VICTORIA. DEPT OF PREMIER AND CABINET, AUSTRALIAN POWER PROJECT, SOUTH AUSTRALIA. DEPT OF TREASURY AND FINANCE

Hazelwood closure set to push up prices

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Original article by Mark Ludlow
The Australian Financial Review – Page: 4 : 26-Sep-16

France-based Engie could make a final decision on the mooted closure of Victoria’s Hazelwood coal-fired power station in October 2016. Some media reports have suggested that the power plant could be shut down in April 2017, but Energy Minister Lily D’Ambrosio says no decision has been made. Tony Wood of the Grattan Institute says the brown coal plant’s closure would result in higher electricity prices, while Federal Energy Minister Josh Frydenberg has questioned the need for states to have their own renewable energy targets.

CORPORATES
ENGIE SA, VICTORIA. DEPT OF ECONOMIC DEVELOPMENT, JOBS, TRANSPORT AND RESOURCES, GRATTAN INSTITUTE, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN NATIONAL UNIVERSITY. CENTRE FOR CLIMATE ECONOMICS AND POLICY

Victoria to ‘waste’ smart power meters

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Original article by Ben Potter
The Australian Financial Review – Page: 3 : 4-Feb-16

The Victorian Government has decided that households will be able to choose to be placed on flexible electricity tariffs. However, Tony Wood of the Grattan Institute warns that the "opt-in" policy will result in a low take-up rate for the flexible tariffs scheme, which offers lower electricity rates in off-peak periods. He adds that the decision means Victorian households will not gain most of the benefits of the state’s $A2bn smart meter rollout.

CORPORATES
GRATTAN INSTITUTE, VICTORIA. DEPT OF ECONOMIC DEVELOPMENT, JOBS, TRANSPORT AND RESOURCES, AGL ENERGY LIMITED – ASX AGL, AUSTRALIAN LABOR PARTY, AUSTRALIAN ENERGY REGULATOR, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, COUNCIL OF AUSTRALIAN GOVERNMENTS

‘Outbreak of commonsense’ may save smelter

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Original article by Chip Le Grand
The Australian – Page: 1 : 23-Oct-14

Aluminium producer Alcoa in early 2014 announced the closure of the Point Henry smelter operation in Geelong. This sparked concerns that its other facility, at Portland, would also be shut once an electricity supply deal ends in November 2016. However plant manager Peter Chellis has now welcomed an announcement by Federal Industry Minister Ian Macfarlane that he wants to exempt the smelter from the renewable energy target. This is estimated to bring annual cost savings of about $A10m, and may help secure the jobs of 540 staff and 180 contractors

CORPORATES
ALCOA INCORPORATED – ASX AAI, AUSTRALIA. DEPT OF INDUSTRY, AUSTRALIAN WORKERS’ UNION-FEDERATION OF INDUSTRIAL, MANUFACTURING AND ENGINEERING EMPLOYEES, AUSTRALIAN LABOR PARTY, AUSTRALIAN ALUMINIUM COUNCIL LIMITED