Refinery rescue will cost $2.35bn

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

Canberra, refiners talk fuel security

Original article by Perry Williams
The Australian – Page: 16 : 8-May-20

Federal Energy Minister Angus Taylor has held talks with Caltex, Viva Energy, ExxonMobil and BP about increasing the amount of oil they store in Australia. Taylor flagged plans to establish a domestic oil reserve earlier in 2020, when the government spent $94m on a strategic fuel reserve in the US. Caltex’s acting CEO Matt Halliday has told a conference that the coronavirus pandemic has put the issue of fuel security on the agenda, while Viva Energy CEO Scott Wyatt said demand for petrol is rising as lockdown restrictions begin to ease.

CORPORATES
AUSTRALIA. DEPT OF INDUSTRY, SCIENCE, ENERGY AND RESOURCES, CALTEX AUSTRALIA LIMITED – ASX CTX, VIVA ENERGY GROUP LIMITED – ASX VEA, EXXONMOBIL AUSTRALIA PTY LTD, BP AUSTRALIA LIMITED

Power stability critical

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 1 & 4 : 24-Feb-20

The Energy Security Board’s latest annual report card has stated that electricity affordability improved from ‘critical’ in 2018 to ‘moderate-critical’ in 2019. This was due to a combination of falling costs and government pressure on retailers. The ESB noted that power generation from wind and solar is tipped to grow from 16 per cent of supply in 2019 to more than 40 per cent by 2030. However, it warned that the growth of wind and solar poses a threat to the stability of the national grid, with greater intervention needed.

CORPORATES
AUSTRALIA. ENERGY SECURITY BOARD

No food, no fuel, no phones: Bushfires showed we’re only ever one step from system collapse

Original article by Anthony Richardson
The New Daily – Page: Online : 11-Feb-20

Australia’s recent bushfires revealed the shortcomings of the ‘just in time’ model used for the distribution of food and fuel. When the Victorian town of Mallacoota was cut off by road and air because of the fires, food and fuel supplies quickly became so low that there were suggestions of a pending humanitarian crisis. Australia currently imports 90 per cent of its oil, most of which comes through the Strait of Hormuz. Australia is meant to keep 90 days of fuel supplies in reserve as part of its International Energy Agency obligations, but at one point in late 2019, it reportedly had only 23 days of jet fuel, 22 days of diesel and 18 days of petrol in reserve.

CORPORATES
INTERNATIONAL ENERGY AGENCY

Industry group wants climate policy on agenda in wake of bushfires

Original article by Mike Foley
The Sydney Morning Herald – Page: Online : 23-Jan-20

Energy Minister Angus Taylor will hold a roundtable meeting with representatives of the nation’s power companies on 23 January. They will discuss the industry’s response to the bushfires crisis. Australian Industry Group CEO Innes Willox says the meeting should also address the issue of climate change. Craig Memery of the Public Interest Advocacy Centre says the agenda should include strategies to make the energy grid more resilient while avoiding a significant impost on consumers.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, THE AUSTRALIAN INDUSTRY GROUP, PUBLIC INTEREST ADVOCACY CENTRE

Red light flashing over fuel security

Original article by Primrose Riordan
The Australian – Page: 1 & 4 : 7-Jan-19

There is growing concern about Australia’s limited onshore fuel stockpiles, with experts warning that it is less prepared than other developed nations for an international crisis that would affect fuel supplies. Data from the Department of Energy shows that Australia’s petrol stockpile would last 22 days, while the diesel fuel supply would be exhausted in just 17 days. In contrast, the International Energy Agency recommends that nations have a fuel stockpile equivalent to 90 days. The federal government has been criticised for delaying a review of Australia’s fuel stockpiles.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, INTERNATIONAL ENERGY AGENCY, LIBERAL PARTY OF AUSTRALIA, DEAKIN UNIVERSITY, AUSTRALIAN STRATEGIC POLICY INSTITUTE LIMITED, AUSTRALIA. DEPT OF HOME AFFAIRS, AUSTRALIA. DEPT OF DEFENCE

No targets, Taylor warns states

Original article by Michael Roddan
The Australian – Page: 8 : 12-Oct-18

Federal Energy Minister Angus Taylor says Australia is on track to achieve a 26 per cent reduction in carbon emissions by 2030. He says a priority now is to stabilise the national electricity grid, and with this in mind he intends to push for the states and territories to support a "reliability obligation" at the upcoming Council of Australian Governments’ meeting. Taylor also said the states should not press for the adoption of an emissions target at the meeting, arguing that it would only be necessary if Australia sought to reduce emissions by more than 26 per cent.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIAN LABOR PARTY, AUSTRALIA. ENERGY SECURITY BOARD

Taylor forces NEG security onto states

Original article by Angela Macdonald-Smith, Ben Potter
The Australian Financial Review – Page: 1 & 8 : 10-Oct-18

Power retailers will be required to guarantee a reliable electricity supply under a new proposal by the federal government. The proposal for a reliability mechanism – which was a key element of the national energy guarantee – will be put to the upcoming meeting of the COAG Energy Council. The reliability mechanism is one of the initiatives of Energy Minister Angus Taylor which are aimed at reducing electricity prices while ensuring a reliable energy supply as the proportion of electricity generated by renewables increases.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, COUNCIL OF AUSTRALIAN GOVERNMENTS. ENERGY COUNCIL, AUSTRALIAN LABOR PARTY, AGL ENERGY LIMITED – ASX AGL, HYDRO TASMANIA, ERM POWER LIMITED – ASX EPW, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. ENERGY SECURITY BOARD, INTERGOVERNMENTAL PANEL ON CLIMATE CHANGE, QUEENSLAND. DEPT OF ENERGY AND WATER SUPPLY, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING

‘NEG is dead’: States go it alone

Original article by Mark Ludlow, Ben Potter
The Australian Financial Review – Page: 4 : 30-Aug-18

Uncertainty about the future of the federal government’s national energy guarantee in the wake of the leadership spill has prompted Labor-led state governments to press ahead with their own renewable energy targets. Queensland’s Energy Minister Anthony Lynham says he has not anything from the federal government about the NEG since the leadership change, adding that the state remains committed to its renewable energy target of 50 per cent. The Australian Capital Territory’s Climate Change Minister Shane Rattenbury says it appears that the NEG will not proceed.

CORPORATES
QUEENSLAND. DEPT OF ENERGY AND WATER SUPPLY, AUSTRALIAN CAPITAL TERRITORY. DEPT OF ENVIRONMENT, PLANNING AND SUSTAINABLE DEVELOPMENT, AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, COUNCIL OF AUSTRALIAN GOVERNMENTS, AUSTRALIA. ENERGY SECURITY BOARD

Price cuts come first over Paris emissions

Original article by Ben Packham
The Australian – Page: 1 & 6 : 30-Aug-18

Australia’s new Energy Minister Angus Taylor says his top priority in the portfolio will be to pursue measures that will result in lower electricity prices, rather than implementing carbon emission reduction targets under the Paris climate agreement. Taylor will use a Council of Small Business Organisations speech on 30 August to criticise the Opposition’s carbon emissions reduction target, arguing that it reduce the nation’s energy security as coal-fired power stations would be forced to close.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, COUNCIL OF SMALL BUSINESS ORGANISATIONS OF AUSTRALIA LIMITED, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, McKINSEY AND COMPANY