Coal stays in energy fix

Original article by Andrew Tillett, Mark Ludlow
The Australian Financial Review – Page: 1 & 4 : 12-Jul-18

The Australian Competition & Consumer Commission has made 56 recommendations in the final report of its investigation into retail energy pricing. Prime Minister Malcolm Turnbull has indicated that the Federal Government may support the ACCC’s recommendation that the cost of new dispatchable electricity generation be subsidised by taxpayers. This could potentially include coal-fired power stations. Other recommendations include replacing electricity retailer’s standing offers with default offers.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIAN ENERGY MARKET COMMISSION, AUSTRALIA. ENERGY SECURITY BOARD, QUEENSLAND MEDIA CLUB, LIBERAL PARTY OF AUSTRALIA, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIAN LABOR PARTY, VICTORIA. DEPT OF ENVIRONMENT, LAND, WATER AND PLANNING

Power rip-offs: ACCC lines up energy giants

Original article by Simon Benson
The Australian – Page: 1 & 6 : 11-Jul-18

The Australian Competition & Consumer Commission will release the final report on its investigation into retail energy pricing on 11 July. The ACCC has accused large energy companies of abusing their market power, and it has proposed major changes to the National Electricity Market in order to reduce electricity prices. Amongst other things, the ACCC has recommended banning companies from participating in mergers if they boast a 20 per cent share of the electricity generation market. It has also recommended giving the Australian Energy Regulator more powers to combat market manipulation.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AUSTRALIAN ENERGY REGULATOR, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, NEW SOUTH WALES. INDEPENDENT PRICING AND REGULATORY TRIBUNAL, QUEENSLAND MEDIA CLUB

ACCC: Click misled consumers

Original article by Max Mason
The Australian Financial Review – Page: 14 : 10-Jul-18

Electricity and gas retailer Click Energy will dispute allegations of false and misleading conduct. The Australian Competition & Consumer Commission will allege in court that Click Energy’s offer of a 7-29 per cent discount for paying electricity bills on time applied only to its market offer rates, rather than its standard offer rates. ACCC chairman Rod Sims says the discounts were much lower than advertised when compared with Click Energy’s standing offer rates.

CORPORATES
CLICK ENERGY PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AMAYSIM AUSTRALIA LIMITED – ASX AYS, FEDERAL COURT OF AUSTRALIA

PM pushed on power prices

Original article by Greg Brown
The Australian – Page: 1 & 5 : 9-Jul-18

The Greens will push for a commission of ­inquiry into retail electricity pricing, with energy spokesman Adam Bandt urging Coalition backbenchers to cross the floor and support the proposed bill. A number of Senate crossbenchers have expressed support for an inquiry into retail electricity prices, while several Coalition MPs have advocated holding a royal commission unless electricity retailers take action to reduce their prices. However, Deputy Prime Minister ­Michael McCormack says a royal commission is not on the Coalition’s agenda at present.

CORPORATES
AUSTRALIAN GREENS, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, NATIONAL PARTY OF AUSTRALIA, AGL ENERGY LIMITED – ASX AGL, ORIGIN ENERGY LIMITED – ASX ORG, ENERGYAUSTRALIA PTY LTD, AUSTRALIAN ENERGY MARKET COMMISSION, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Renewables generate 19pc of grid already

Original article by Ben Potter
The Australian Financial Review – Page: 6 : 6-Jul-18

Renewable energy was responsible for just under 19 per cent of National Electricity Market generation in the year to June 2018, according to the Australia Institute. The figure includes rooftop solar generation, or 15.7 per cent if rooftop solar generation is not included. The Australia Institute claims that new solar and wind generation that is being built or committed to under the federal government’s Renewable Energy Target and the Victorian government’s RET would be sufficient for the former to meet its 2030 emissions target without the need for a National Energy Guarantee.

CORPORATES
THE AUSTRALIA INSTITUTE LIMITED, REPUTEX AUSTRALIA PACIFIC PTY LTD, GREEN ENERGY MARKETS PTY LTD

AGL’s carbon loading

Original article by Sharri Markson
The Daily Telegraph – Page: 4 : 29-May-18

Data from the Clean Energy Regulator shows that AGL Energy generated 43.4 million tonnes of carbon emissions in 2016-17, which equates to about eight per cent of Australia’s emissions. Rival utility EnergyAustralia is the nation’s second-biggest carbon polluter, with emissions totalling 21.7 million tonnes in 2016-17. AGL is believed to be spending around $A23m a year on advertising to promote its environmental credentials, yet its emissions have increased by five million tonnes under current CEO Andy Vesey.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, ENERGYAUSTRALIA PTY LTD, AUSTRALIA. CLEAN ENERGY REGULATOR, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY

Abbott blasts Turnbull’s anti-coal chiefs

Original article by Greg Brown
The Australian – Page: 1 & 6 : 22-May-18

Energy Minister Josh Frydenberg has dismissed calls for the Federal Government to acquire the Liddell power station after AGL Energy formally rejected Alinta Energy’s offer to buy it. Coalition backbenchers Tony Abbott and Barnaby Joyce said the government should compulsorily acquire Liddell, with the former saying it should then be on-sold to Alinta. Abbott has also accused senior government bureaucrats of having an anti-coal bias. He argues that coal remains the lowest-cost option for baseload power.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AGL ENERGY LIMITED – ASX AGL, ALINTA ENERGY (AUSTRALIA) PTY LTD, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIA. DEPT OF INDUSTRY, INNOVATION AND SCIENCE, AUSTRALIA. ENERGY SECURITY BOARD, THE CENTRE FOR INDEPENDENT STUDIES LIMITED

Alinta Energy turns up heat on AGL with $250m Liddell bid

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 15 : 1-May-18

Ian Myles of Macquarie Group says Alinta Energy’s offer to buy AGL Energy’s Liddell coal-fired power station is "opportunistic", while Mark Busuttil of JP Morgan adds that AGL would be unlikely to consider such a low offer. AGL itself has repeatedly stressed that Liddell is not for sale as the power station will be required until its scheduled closure in 2022, with the site to then be used to generate renewable energy. Alinta recently signalled its intention to make a formal offer to buy Liddell.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, ALINTA ENERGY (AUSTRALIA) PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, JP MORGAN AUSTRALIA LIMITED, CHOW TAI FOOK ENTERPRISES LIMITED, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, MANUFACTURING AUSTRALIA LIMITED

Alinta’s $1bn bid for coal power station

Original article by Ben Packham, Andrew White
The Australian – Page: 1 & 4 : 5-Apr-18

Prime Minister Malcolm Turnbull and Treasurer Scott Morrison have urged AGL Energy to consider selling the Liddell power station, which is slated to close in 2022. Alinta Energy has advised that it is preparing to make an indicative offer of around $A1bn for the coal-fired power plant, and CEO Jeff Dimery is confident that his company can extend the ageing plant’s operational life at a significantly lower cost than AGL has estimated. AGL in turn has argued that it needs to retain Liddell as the site will be used to supply alternative sources of energy beyond the existing plant’s closure.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, ALINTA ENERGY (AUSTRALIA) PTY LTD, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIAN LABOR PARTY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, MACQUARIE GENERATION, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, CS ENERGY LIMITED, DELTA ELECTRICITY AUSTRALIA PTY LTD, SHANDONG RUYI TECHNOLOGY GROUP COMPANY LIMITED

Big Power says No to new fossil-fuel plant

Original article by Ben Potter
The Australian Financial Review – Page: 4 : 4-Apr-18

Major electricity companies maintain that the construction of new coal-fired power stations is not economically viable, despite a push by some Coalition MPs. A spokesperson for EnergyAustralia says the company’s focus is on a "modern energy system" based on renewables and technology such as battery storage. Ben Skinner of the Australian Energy Council argues that clean-coal technology would not significantly reduce the "material carbon risk" of coal-fired power plants.

CORPORATES
ENERGYAUSTRALIA PTY LTD, AUSTRALIAN ENERGY COUNCIL, AGL ENERGY LIMITED – ASX AGL, GENEX POWER LIMITED – ASX GNX, ENGIE SA, GRATTAN INSTITUTE