Renewables well short of the electricity target

Original article by Adam Creighton
The Australian – Page: 2 : 12-Jul-19

Tony Wood from the Grattan Institute expects Australia’s Renewable Energy Target of 33GWh by 2020 to be met, despite the release of data showing that solar and wind power accounted for just 15 gigawatt hours of total electricity generation in 2018-19. Wood notes that uncertainty surrounding the RET has caused investment in renewables to be delayed, but he says separate data shows that such investment in renewables is slated to increase during 2019-20.

CORPORATES
GRATTAN INSTITUTE, AUSTRALIAN BUREAU OF STATISTICS, AUSTRALIAN ENERGY REGULATOR, AUSTRALIAN ENERGY COUNCIL

Avalanche of renewables may threaten power grid

Original article by Perry Williams
The Australian – Page: 1 & 8 : 5-Dec-18

Bloomberg New Energy Finance estimates that clean energy will account for the bulk of investment in Australia’s electric power generation capacity in the next two decades or so. However, the International Energy Agency’s executive director Fatih Birol says the stability of Australia’s energy grid may be jeopardised if measures are not in place to ensure that it can cope with a big influx of renewables. Birol adds that increasing renewables’ share of the energy mix is not the sole solution to global warming. Labor proposes to implement the national energy guarantee as part of its climate change policy.

CORPORATES
INTERNATIONAL ENERGY AGENCY, AUSTRALIAN LABOR PARTY, BLOOMBERG NEW ENERGY FINANCE, LIBERAL PARTY OF AUSTRALIA, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

Goal of 50pc renewables by 2030 on track

Original article by Ben Potter
The Australian Financial Review – Page: 13 : 30-Nov-18

Green Energy Markets says renewable sources are likely to account for 50 per cent of Australia’s energy supply by 2030. The energy consultancy estimates that renewables could account for 78 per cent of the nation’s energy mix by 2030 if the current take-up rate of rooftop solar panels and investment in wind and solar farms is sustained. A recent report from the United Nations concluded that Australia and another seven G20 countries will not meet their 2030 renewable energy targets.

CORPORATES
GREEN ENERGY MARKETS PTY LTD, UNITED NATIONS, GROUP OF TWENTY (G-20), AUSTRALIAN LABOR PARTY, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIA. CLEAN ENERGY FINANCE CORPORATION, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY

Strategy will shut four coal plants

Original article by Matthew Denholm
The Australian – Page: 6 : 23-Nov-18

Minerals Council of Australia CEO Tania Constable says Labor must explain how it will guarantee a reliable base-load power supply under its policy of a renewable energy target of 50 per cent by 2030. She has warned that the policy could force four coal-fired power stations in Victoria, New South Wales, South Australia and Queensland to be shut down well before the 2030 target date, in addition to the Liddell plant in NSW. She adds that this would result in a big rise in electricity prices.

CORPORATES
MINERALS COUNCIL OF AUSTRALIA, CONSTRUCTION, FORESTRY, MARITIME, MINING AND ENERGY UNION OF AUSTRALIA, ELECTRICAL TRADES UNION

Australia ‘must commit to one emission target’

Original article by Andrew White
The Australian – Page: 4 : 25-Oct-17

The Australian Greens have welcomed the release of a Productivity Commission report which advocates the adoption of a carbon price. The commission has also recommended the introduction of a national renewable energy target rather than having separate state-based schemes. It argues that a national approach would make it easier for Australia to meet its emission reduction target under the Paris agreement and do more to encourage investment in new power generation.

CORPORATES
AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIAN GREENS, AUSTRALIAN LABOR PARTY

ALP’s $200 power bill shock

Original article by Simon Benson
The Australian – Page: 1 & 4 : 24-Oct-17

Labor has stated that it will seek to have 50 per cent of electricity produced from renewable sources by 2030. It will also seek to reduce carbon emissions by 45 per cent. However, modelling by the Climate Change Authority has concluded that achieving its 50 per cent target would increase the average household’s power bill by $A200 a year, as well as requiring 17,000 megawatts of coal-fired power generation to be taken out of the National Electricity Market. Energy Minister Josh Frydenberg has claimed Labor is trying to conceal the cost of its energy policy.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. CLIMATE CHANGE AUTHORITY, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, BUSINESS COUNCIL OF AUSTRALIA

Scale back Paris emissions commitment, reformers urge

Original article by Adam Creighton
The Australian Financial Review – Page: 1 & 6 : 11-Oct-17

The Federal Government ruled out withdrawing from the Paris climate change agreement in June, but Gary Banks of the Melbourne Institute and former government adviser Fred Hilmer say it should reduce back the nation’s commitment to the agreement. Banks, the former chairman of the Productivity Commission, has expressed concern about the likely economic impact of Australia’s renewable energy target. Banks and Hilmer have also questioned whether there has been adequate analysis and modelling of the Government’s energy policy.

CORPORATES
UNIVERSITY OF MELBOURNE. INSTITUTE OF APPLIED ECONOMIC AND SOCIAL RESEARCH, AUSTRALIA. PRODUCTIVITY COMMISSION, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AGL ENERGY LIMITED – ASX AGL, INFRASTRUCTURE PARTNERSHIPS AUSTRALIA

Rethink on clean energy target

Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 9-Oct-17

There appears to be a growing view within the Federal Government that a clean energy target, as recommended by Chief Scientist Alan Finkel, is no longer required. This is because the cost of renewable energy is falling more quickly than previously forecast, with the cost of battery technology expected to fall by more than 70 per cent in the period to 2030. Energy Minister Josh Frydenberg is expected to express these sentiments concerning the CET when he gives the keynote address at an energy summit.

CORPORATES
AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AGL ENERGY LIMITED – ASX AGL, ENERGYAUSTRALIA PTY LTD, ORIGIN ENERGY LIMITED – ASX ORG, AUSTRALIAN LABOR PARTY, SOUTH AUSTRALIA. DEPT OF THE PREMIER AND CABINET, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET

No changes to RET in power supply overhaul

Original article by David Crowe
The Australian – Page: 1 & 4 : 15-Sep-17

The Federal Government is expected to retain the renewable energy target in its current form, due to the prospect of any changes being rejected by the Senate and concern that further changes could create sovereign risk for investors. However, the Government is expected to announce that the RET will not apply to new projects from 2020. Meanwhile, Opposition Leader Bill Shorten has been criticised in parliament over his claim that the average Sydney household’s electricity bill has risen by $A1,000 since the Coalition was elected in 2013.

CORPORATES
AUSTRALIAN LABOR PARTY, AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN ENERGY REGULATOR, ENERGY CONSUMERS AUSTRALIA, BAECONOMICS PTY LTD, MINERALS COUNCIL OF AUSTRALIA, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST

PM’s new baseload plan

Original article by Phillip Coorey, Ben Potter
The Australian Financial Review – Page: 1 & 4 : 13-Sep-17

The Federal Government has advised that its energy policy will have a focus on affordable and reliable baseload electric power generation, rather than a clean energy target. Prime Minister Malcolm Turnbull has indicated that Australia could meet its 2030 emissions reductions targets while retaining coal as part of the energy mix. He also says AGL Energy’s plan to replace the 1,000 megawatts of baseload generation of its Liddell power station cannot include renewable energy, arguing that they are not baseload. AGL has been given 90 days to develop a plan to replace the ageing power station’s output.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AGL ENERGY LIMITED – ASX AGL, AUSTRALIA. OFFICE OF THE CHIEF SCIENTIST, AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY, AUSTRALIAN LABOR PARTY