ENERGY POLICY – AUSTRALIA

BHP seeks to lift nuclear barriers

roymorgansocial Leave a comment

Original article by Geoff Carmody
The Australian – Page: 1 & 2 : 7-Jun-23

It has been revealed that BHP used its pre-budget submission to urge the federal government to include nuclear power in the nation’s energy mix in order to help achieve its climate targets. BHP’s chief technical officer Laura Tyler had previously told a forum in 2022 that nuclear energy needs to be "part of the conversation" and that uranium should be considered as a source of baseload power. The International Energy Agency has also stated that nuclear power can play an important role in the energy transition, while Opposition leader Peter Dutton used his budget reply speech in May to argue the case for small modular nuclear reactors.

CORPORATES
BHP GROUP LIMITED – ASX BHP, INTERNATIONAL ENERGY AGENCY, LIBERAL PARTY OF AUSTRALIA

Melbourne Institute & Roy Morgan – Taking The Pulse of the Nation: To address rising energy costs, Australians want long-term solutions from the government rather than temporary reliefs

roymorgansocial Leave a comment

Original article by Roy Morgan
Market Research Update – Page: Online : 7-Feb-23

In December 2022, the Taking the Pulse of the Nation survey asked Australians about their ability to meet daily energy needs, their strategies to deal with high energy costs, and what they expect from the government to assist with rising energy costs. Rising energy costs have meant that a fifth of Australians can’t afford to adequately use their heating or cooling. The proportion of Australians unable to heat or cool their homes is almost four times higher among those in financial stress compared to those not in financial stress. When asked how they’re responding to recent and predicted future increases in electricity and gas prices, 36% of Australians have changed the heating and/or cooling setting of their homes to lower energy costs and save money. Some 12% of respondents reported having skipped a meal or eaten less to be able to pay their energy bills. Meanwhile, about 45% of Australians believe the government should invest in or subsidise the development of more renewable energy sources instead of one-time transfers to households to help alleviate energy poverty. Many Australians also want to see government intervention with price controls or caps on energy market prices, and investment in nuclear technologies and power infrastructure. This report is based on a total of 1,000 adult respondents from data collected in December 2022. Visit the Melbourne Institute Taking the Pulse of the Nation web portal for further information and to access interactive charts and other findings: https://melbourneinstitute.unimelb.edu.au/data/ttpn.

CORPORATES
ROY MORGAN LIMITED, UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH

State coal power to reap $500m-plus

roymorgansocial Leave a comment

Original article by Max Maddison
The Australian – Page: 1 & 2 : 4-Jan-23

Households and small businesses will receive some $1.5bn in price relief via the federal government’s energy plan, which will cap gas and coal prices. Coal-fired power generators will in turn be entitled to compensation over the decision to cap coal prices at $125 per tonne. It has been estimated that coal-fired power stations in New South Wales could receive about $500m in compensation, with their Queensland counterparts could potentially be entitled to $750m in compensation. Independent senator David Pocock has criticised the government in the wake of revelations that mining company Rio Tinto and its partners could receive around $450m in compensation because they own the Gladstone power station.

CORPORATES
RIO TINTO LIMITED – ASX RIO

Albanese plan has dealt a blow to east coast gas supply

roymorgansocial Leave a comment

Original article by Samantha Hutchinson
The Australian Financial Review – Page: Online : 23-Dec-22

APPEA CEO Samantha McCulloch has warned that the federal government’s intervention in the energy market will deter future investment and affect gas supply on the east coast. She adds that Senex Energy’s decision to put a $1bn expansion of its Surat Basin projects on hold is exactly what the industry warned about when the government moved to impose gas price caps. However, the intervention has been defended by Energy Minister Chris Bowen, who argues that Australian industries would have collapsed in 2023 if Labor had taken no action.

CORPORATES
AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED, SENEX ENERGY LIMITED, AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER

Secret $8bn sweetheart energy deal

roymorgansocial Leave a comment

Original article by Simon Benson
The Australian – Page: 1 & 6 : 21-Dec-22

The federal and NSW governments have struck a $7.8bn joint funding deal for eight electricity transmission and Renewable Energy Zone projects across the state. The deal has been negotiated to secure NSW’s support for the federal government’s coal price caps when state parliament is recalled on Wednesday. The federal government will contribute $4.7bn in funding for the projects via its Rewiring the Nation policy. The joint funding will be used to connect the Snowy Hydro 2.0 project and a number of renewable energy zones into the national grid.

CORPORATES

Gas reservation mooted as energy row heats up

roymorgansocial Leave a comment

Original article by Rosie Lewis, Perry Williams, Sarah Ison
The Australian – Page: 1 & 2 : 14-Dec-22

The oil and gas industry has criticised Prime Minister Anthony Albanese after he flagged the possibility of adopting a national gas reservation policy. Albanese has praised Western Australia’s gas reservation policy and indicated that replicating this at federal level may be needed as a longer-term solution to rising energy prices than the government’s proposed intervention. NSW and Victoria have advocated a national gas reservation scheme, but APPEA CEO Samantha McCulloch says adequate measures are already in place, such as the Australian Domestic Gas Security Mechanism. She contends that increased regulation will deter investment and adversely affect Australia’s reputation amongst its key trading partners.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN PETROLEUM PRODUCTION AND EXPLORATION ASSOCIATION LIMITED

PM tells states to cap coal price

roymorgansocial Leave a comment

Original article by Simon Benson,{SPAC}Geoff Chambers
The Australian – Page: 1 & 5 : 7-Dec-22

Prime Minister Anthony Albanese is said to be confident of securing a deal with state and territory leaders on gas and coal price caps before Christmas. The federal government will intervene in the gas market, although it is likely to wait until February to legislate its mandatory code of conduct, which will impose a floating price mechanism on gas producers as part of its strategy to reduce energy prices. However, the government will push for NSW and Queensland to impose their own price caps on coal; the states have warned that this would require the government to compensate coal producers.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Bowen signs up to global offshore wind club

roymorgansocial Leave a comment

Original article by Hans van Leeuwen
The Australian Financial Review – Page: 12 : 16-Nov-22

The federal government will seek to accelerate the development of Australia’s nascent offshore wind power industry. Onshore wind farms account for about 10 per cent of the nation’s electricity generation capacity at present, and the government has announced that Australia will join the Global Offshore Wind Alliance. Climate and Energy Minister Chris Bowen, who is attending the COP27 climate summit in Egypt, says Australia’s offshore wind farm industry is starting from scratch, and the nation will benefit from being a member of the alliance.

CORPORATES
AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER, GLOBAL OFFSHORE WIND ALLIANCE

Call for energy ministers to agree to gas price cap at 30% of current market offers

roymorgansocial Leave a comment

Original article by Peter Hannam
The Guardian Australia – Page: Online : 28-Oct-22

Federal and state energy minister will meet in Melbourne on Friday, in the wake of the budget forecast of big increases in electricity and gas prices. Energy Users Association of Australia CEO Andrew Richards has called for gas prices to be capped in response to the energy crisis that has been driven by the invasion of Ukraine. He notes that some industrial users are being offered contracts for gas at about $35 per gigajoule. This compares with about $10 per gigajoule just over a year ago, and Richards contends that capping prices at around this level would be "pretty fair and reasonable" for manufacturers and gas producers alike.

CORPORATES
ENERGY USERS ASSOCIATION OF AUSTRALIA

Dutton presses button on the nuclear debate

roymorgansocial Leave a comment

Original article by Greg Brown
The Australian – Page: 5 : 3-Aug-22

Federal Opposition Leader Peter Dutton says the energy crisis has demonstrated the need for more dispatchable power in the electricity grid. He adds that the nation must have an honest and informed debate on the benefits and costs of nuclear energy. Dutton has advised that the Coalition will hold an internal party review on the issue of nuclear energy; he says it is mature, proven technology that can provide reliable, emissions-free, base-load electricity. Minerals Council of Australia CEO Tania Constable has welcomed the Coalition’s commitment to looking at the option of nuclear energy, but Energy Minister Chris Bowen contends that more renewable energy is the solution to rising power prices.

CORPORATES
LIBERAL PARTY OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. DEPT OF CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER