ENERGY POLICY – AUSTRALIA

Strong backing for energy plan

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 18-Oct-17

The Australian Energy Regulator will be responsible for ensuring that electricity retailers comply with carbon emission reduction targets under the Federal Government’s National Energy Guarantee. The new energy policy also requires electricity retailers to meet reliability standards. Business leaders are generally supportive of the policy, although the Opposition has some concerns about it, while some state governments are highly critical. Former prime minister Tony Abbott maintains that the energy policy should not include an emissions reduction target.

CORPORATES
AUSTRALIAN ENERGY REGULATOR, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, BUSINESS COUNCIL OF AUSTRALIA, AUSTRALIAN CHAMBER OF COMMERCE AND INDUSTRY, THE AUSTRALIAN INDUSTRY GROUP, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, THE AUSTRALIA INSTITUTE LIMITED, LIBERAL-NATIONAL PARTY OF QUEENSLAND, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, VICTORIA. DEPT OF PREMIER AND CABINET, QUEENSLAND. DEPT OF ENERGY AND WATER SUPPLY, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN ENERGY MARKET COMMISSION, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, CLEAN ENERGY COUNCIL LIMITED

Energy plan keeps coal in the mix

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 6 : 17-Oct-17

The Federal Government’s energy policy, which has been endorsed by the cabinet, will not include a Clean Energy Target or any other subsidies. The policy will be put to the Coalition’s party room on 17 October, and will require energy retailers to comply with new guidelines regarding reliability of electricity supply and emissions reduction. However, they will be able to determine the proportion of each type of energy they supply in order to fulfil these requirements. The Government argues that its energy plan will result in lower electricity prices than under the CET that was proposed by the Finkel review.

CORPORATES
AUSTRALIAN ENERGY REGULATOR, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIAN ENERGY MARKET COMMISSION, AUSTRALIA. ENERGY SECURITY BOARD, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AUSTRALIAN LABOR PARTY

PM weighs expanding Direct Action

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Original article by Mark Ludlow
The Australian Financial Review – Page: 8 : 13-Oct-17

Australia is meant to achieve certain carbon emission reduction targets by 2030, but there are concerns that these targets will not be met without an appropriate mechanism in place. The Federal Government appears to have abandoned the Finkel Review’s proposed Clean Energy Target, while the Renewable Energy Target will end in 2020. There are suggestions that the government’s Direct Action scheme could be used as an alternative to the RET, although Australian Energy Council CEO Matthew Warren contends that it would have to be reconfigured in order to be viable.

CORPORATES
AUSTRALIAN ENERGY COUNCIL, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, GRATTAN INSTITUTE

Scale back Paris emissions commitment, reformers urge

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Original article by Adam Creighton
The Australian Financial Review – Page: 1 & 6 : 11-Oct-17

The Federal Government ruled out withdrawing from the Paris climate change agreement in June, but Gary Banks of the Melbourne Institute and former government adviser Fred Hilmer say it should reduce back the nation’s commitment to the agreement. Banks, the former chairman of the Productivity Commission, has expressed concern about the likely economic impact of Australia’s renewable energy target. Banks and Hilmer have also questioned whether there has been adequate analysis and modelling of the Government’s energy policy.

CORPORATES
UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AGL ENERGY LIMITED – ASX AGL, INFRASTRUCTURE PARTNERSHIPS AUSTRALIA

Rethink on clean energy target

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Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 9-Oct-17

There appears to be a growing view within the Federal Government that a clean energy target, as recommended by Chief Scientist Alan Finkel, is no longer required. This is because the cost of renewable energy is falling more quickly than previously forecast, with the cost of battery technology expected to fall by more than 70 per cent in the period to 2030. Energy Minister Josh Frydenberg is expected to express these sentiments concerning the CET when he gives the keynote address at an energy summit.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AGL ENERGY LIMITED – ASX AGL, ENERGYAUSTRALIA PTY LTD, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIAN LABOR PARTY, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Abbott opposed cheaper gas push: Libs

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 21-Sep-17

Some Coalition MPs have criticised the stance of former prime minister Tony Abbott on the issue of energy policy, after he threatened to vote against the government if it legislates to provide more renewable energy subsidies. Abbott’s critics within the Coalition note that he recently opposed a push for LNG export controls due to sovereign risk concerns, while he had also opposed the abolition of the Renewable Energy Target when he was prime minister.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Gas exports ‘starve local firms, jobs’

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Original article by David Crowe
The Australian – Page: 1 & 6 : 21-Sep-17

The Federal Government will shortly decide whether to impose LNG export controls in response to concerns about a gas shortage in the domestic market. However, Australian Competition & Consumer Commission chairman Rod Sims has warned that few alternative options are available, and said local factories may close and shed staff if the Government fails to limit gas export volumes. Sims has also argued that energy sustainability, reliability and affordability are separate issues and each requires a different solution.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, ORIGIN ENERGY LIMITED – ASX ORG, SANTOS LIMITED – ASX STO, ROYAL DUTCH SHELL PLC, BHP BILLITON LIMITED – ASX BHP, ESSO AUSTRALIA PTY LTD, AGL ENERGY LIMITED – ASX AGL, NATIONAL PRESS CLUB (AUSTRALIA)

Abbott to ‘cross floor on energy’

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Original article by Simon Benson
The Australian – Page: 1 & 6 : 20-Sep-17

Up to six Coalition backbenchers are said to support former prime minister Tony Abbott in his stance against a clean energy target. Abbott has warned that he would vote against a government bill to introduce a CET, while he has called for Australia to adopt a reliable energy target of 100 per cent in place of a renewable energy target. Prime Minister Malcolm Turnbull has conceded that the RET is too generous, but noted that it was introduced in its current form during Abbott’s prime ministership.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN LABOR PARTY

BHP clears the air on climate change disagreements

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Original article by Matt Chambers
The Australian – Page: 19 & 26 : 20-Sep-17

BHP Billiton executive Mike Henry says the resources group supports the recommendations of the Finkel Review, including the introduction of a Clean Energy Target. The head of BHP’s Australian minerals division adds that the company is of the view that reducing carbon emissions must be a key element of Australia’s energy policy, including the use of carbon capture and storage technology in coal-fired power generation. BHP’s position is at odds with that of the Minerals Council of Australia, which supports the construction of clean-coal power plants but without the use of carbon capture and storage solutions.

CORPORATES
BHP BILLITON LIMITED – ASX BHP, MINERALS COUNCIL OF AUSTRALIA, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY, RIO TINTO LIMITED – ASX RIO, AUSTRALIAN COAL ASSOCIATION, AUSTRALIA-ISRAEL CHAMBER OF COMMERCE

No changes to RET in power supply overhaul

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Original article by David Crowe
The Australian – Page: 1 & 4 : 15-Sep-17

The Federal Government is expected to retain the renewable energy target in its current form, due to the prospect of any changes being rejected by the Senate and concern that further changes could create sovereign risk for investors. However, the Government is expected to announce that the RET will not apply to new projects from 2020. Meanwhile, Opposition Leader Bill Shorten has been criticised in parliament over his claim that the average Sydney household’s electricity bill has risen by $A1,000 since the Coalition was elected in 2013.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN ENERGY REGULATOR, ENERGY CONSUMERS AUSTRALIA, BAECONOMICS PTY LTD, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST