Coalition win as ALP backs big stick laws on energy

Original article by Rosie Lewis
The Australian – Page: 4 : 16-Oct-19

Labor has agreed to support the federal government’s bill to force energy companies to divest assets if they fail to reduce electricity prices. However, Opposition Leader Anthony Albanese says the policy shift is not a backdown, as the proposed legislation has been changed significantly since it was rejected by the previous parliament. The government has agreed to some concessions sought by Labor in return for supporting the bill.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, FEDERAL COURT OF AUSTRALIA

Big energy: big-stick rules hamper firm investment

Original article by Angela Macdonald-Smith, Simon Evans, Mark Ludlow
The Australian Financial Review – Page: S1 & S2 : 10-Oct-19

Origin Energy CEO Frank Calabria has told an energy summit that the federal government’s proposed legislation to force energy companies to divest assets is deterring investment in the sector at a time when it is urgently needed. The issue of government intervention in the energy market attracted criticism from some of the summit’s delegates, but Energy Minister Angus Taylor says such action is justified given the rise in electricity prices in recent years as renewable energy generation has increased.

CORPORATES
ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, ENERGYAUSTRALIA PTY LTD, AGL ENERGY LIMITED – ASX AGL, AUSTRALIA. ENERGY SECURITY BOARD, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

Energy fix for blackouts, big bills

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 1 & 18 : 18-Jul-19

The Australian Energy Market Commission will allow large industrial users of electricity to participate in the demand-response market directly rather than via an electricity retailer. The AEMC’s draft ruling has been welcomed by Federal Energy Minister Angus Taylor, while Australian Competition & Consumer Commission chairman Rod Sims says it will result in lower electricity prices for consumers. The AEMC will accept submissions on the draft ruling until 12 September, with a final ruling to be issued by mid-November.

CORPORATES
AUSTRALIAN ENERGY MARKET COMMISSION, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, TOTAL ENVIRONMENT CENTRE INCORPORATED, THE AUSTRALIA INSTITUTE LIMITED, THE AUSTRALIAN INDUSTRY GROUP, NATIONAL IRRIGATORS COUNCIL LIMITED, BLUESCOPE STEEL LIMITED – ASX BSL, CSR LIMITED – ASX CSR

Energy chief lashes dangerous bill

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 3 : 7-Feb-19

A Senate committee has been told that a bill to force the divestment of energy assets would create greater uncertainty in the electricity sector. EnergyAustralia MD Catherine Tanna has told the committee that the bill was poorly drafted and there had been insufficient consultation. Frontier Economics has warned of the proposed divestment powers’ impact on investment in the electricity sector. However, others have argued that the reforms are necessary to curb the market power of large vertically integrated electricity suppliers.

CORPORATES
ENERGYAUSTRALIA PTY LTD, FRONTIER ECONOMICS PTY LTD, GRATTAN INSTITUTE, BUSINESS COUNCIL OF AUSTRALIA, THE AUSTRALIAN INDUSTRY GROUP, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, UNIVERSITY OF MELBOURNE, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN ENERGY REGULATOR, SIMEC ENERGY

PM’s big stick to be stuck in Senate

Original article by Greg Bright
The Australian – Page: 6 : 7-Dec-18

The Senate’s standing committee on economics will examine the federal government’s bill to force electricity retailers to divest assets after Labor referred it to the upper house. The lower house debated the bill on 6 December, before parliament rose for the year, but further debate will not be possible until early April as the committee is not slated to report on the bill until 18 March. Shadow treasurer Chris Bowen has accused the government of trying to push the bill through the lower house with no scrutiny and minimal debate.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. SENATE STANDING COMMITTEE ON ECONOMICS

Divestment powers put on fast track

Original article by Phillip Coorey
The Australian Financial Review – Page: 4 : 6-Dec-18

Australia Energy Council CEO Sarah McNamara has flagged a possible legal challenge to the federal government’s legislation to force the divestment of energy assets. McNamara says there is still uncertainty regarding the constitutional validity of the bill, despite a compromise which will require the Federal Court to approve any application for asset sales. The bill is expected to be passed by the lower house after four crossbenchers backed a motion for it to be debated and voted upon before parliament rises for the year.

CORPORATES
AUSTRALIAN ENERGY COUNCIL, FEDERAL COURT OF AUSTRALIA, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY

Morrison’s energy big stick cut down to size

Original article by Ben Packham
The Australian – Page: 4 : 5-Dec-18

The federal government has agreed to a compromise on its proposal to intervene in the electricity market. Following a Coalition joint partyroom meeting, the government has advised that the Federal Court will be required to approve any application for the divestment of energy assets if a power company is found to have manipulated electricity prices. Shadow treasurer Chris Bowen says the policy would deter investment in the energy sector and have no impact on electricity prices. Several Liberal backbenchers have also expressed concern about the policy.

CORPORATES
AUSTRALIAN LABOR PARTY, LIBERAL PARTY OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN ENERGY COUNCIL