ENERGY POLICY – AUSTRALIA

Bowen signs up to global offshore wind club

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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

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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

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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

Nationals brawl over hydrogen

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Original article by Jacob Greber
The Australian Financial Review – Page: 1 & 8 : 27-Apr-22

The federal government has committed more than $1bn to the development of hydrogen hubs as part of its net-zero emissions strategy. However, National Party senator Matt Canavan says energy policy should focus on building new coal-fired power stations rather than hydrogen hubs, arguing that Australia needs a reliable energy supply now. Nationals leader Barnaby Joyce has defended Canavan’s stance on coal but says that unlike Labor, the Coalition’s policies will allow the nation to have both a coal and hydrogen industry. Joyce has rejected Canavan’s call for Australia to put its net zero strategy on hold.

CORPORATES
NATIONAL PARTY OF AUSTRALIA

Refinery rescue will cost $2.35bn

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Original article by Ben Packham
The Australian – Page: 4 : 17-May-21

The federal government’s rescue package for the nation’s oil refineries was designed in consultation with Ampol and Viva Energy. The two companies will receive up to $2bn in direct taxpayer funding over the next decade. The variable payments system means that Ampol and Viva will receive greater taxpayer support during periods when their refineries’ margins are low. The government will also provide $302m for the refineries to shift to higher standards three years ahead of schedule. Australia’s two remaining oil refineries employ more than 1,200 people.

CORPORATES
AMPOL LIMITED – ALD, VIVA ENERGY GROUP LIMITED – ASX VEA

PM pushes jobs on road to net zero

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Original article by Geoff Chambers, Perry Williams
The Australian – Page: 1 & 4 : 21-Apr-21

Prime Minister Scott Morrison says the federal government will adopt a ‘technology-first’ approach to reducing carbon emissions. He will reveal plans for the government to invest in four clean hydrogen hubs in regional Australia, as well as carbon capture and storage technology. These initiatives will cost some $540m, while Morrison says they will create 2,500 jobs. Morrison has also committed to ensuring that the government’s climate policies will not penalise industries that have high carbon emissions, such as mining and agriculture.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

Diesel storage contracts up for grabs in fuel-security move

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 14 : 8-Jan-21

Oil refiners and fuel storage providers will be able to apply for grants of up to $33 million to build diesel storage facilities as part of the federal government’s fuel security package. Applications for the grants will open on 11 January and will close on 22 February, with companies that are likely to be interested in applying including Viva Energy, Ampol and ExxonMobil. The grants aim to support the construction of an additional 780 million litres of diesel storage.

CORPORATES
VIVA ENERGY GROUP LIMITED – ASX VEA, AMPOL LIMITED – ALD, EXXONMOBIL AUSTRALIA PTY LTD

Gas intervention could backfire: Santos

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Original article by Perry Williams
The Australian – Page: 17 : 16-Oct-20

Andrew Liveris, an adviser to the federal government, contends a gas price of $4 a kilojoule is an achievable target for the east coast market. However, gas producers believe such a target is not realistic, and Santos CEO Kevin Gallagher has told the annual Citi Annual Investment Conference that the $4 target is too ambitious. Gallagher says "meddling on price settings" by the federal government would put at risk new supply and investment, while he says that increasing gas supply will help to bring about lower prices.

CORPORATES
SANTOS LIMITED – ASX STO

Future of refinery hangs in balance

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Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 19 : 15-Oct-20

Viva Energy’s Geelong refinery in Victoria has posted a loss of $30m for the September quarter, following a loss of nearly $50m in the first half of 2020. Viva will seek to boost cash flow at the refinery by reducing or deferring non-essential spending at the plant. The federal government’s $2.5 billion fuel security package may be crucial to the future of the refinery. Viva will provide an update on the outlook for the plant in December.

CORPORATES
VIVA ENERGY GROUP LIMITED – ASX VEA

Anthony Albanese vows to set new medium-term emissions reduction target

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Original article by Katharine Murphy, Adam Morton
The Guardian Australia – Page: Online : 25-Jun-20

Labor leader Anthony Albanese has used a National Press Club speech to call for a bipartisan approach to energy policy. He has also indicated that Labor will set a new medium-term carbon emissions reduction target prior to the next federal election. Labor has a long-term target of achieving net zero emissions by 2050, and Albanese says the medium-term target will be based on scientific advice. Employers’ groups such as the Business Council of Australia have expressed support for Labor’s stance.

CORPORATES
AUSTRALIAN LABOR PARTY, BUSINESS COUNCIL OF AUSTRALIA