SUBSIDIES – GOVERNMENT POLICY – AUSTRALIA

ALP subsidy too late to save 1200 smelter jobs

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Original article by Perry Williams, Jack Quail, Lachlan Leeming
The Australian – Page: 1 & 2 : 29-Oct-25

Tomago Aluminium’s CEO Jerome Dozol says the fate of its NSW smelter is likely to be decided long before the federal government’s $2bn green production credit scheme becomes available. The smelter’s current electricity supply deal will expire in 2028, and it faces the prospect of negotiating a new coal-fired supply deal at much higher prices until it has access to sufficient renewable generation. Dozol says this is unlikely to occur until "well into the 2030s". The Energy Users Association of Australia says the shutdown of the Tomago smelter due to high electricity prices is an "unimaginable situation", given the nation’s abundant energy resources. Tomago’s closure would result in the loss of about 1,200 direct jobs.

CORPORATES
TOMAGO ALUMINIUM COMPANY PTY LTD, ENERGY USERS ASSOCIATION OF AUSTRALIA

PM set to invest big in green hydrogen

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Original article by Sarah Ison, Rosie Lewis, Jess Malcolm
The Australian – Page: 1 & 5 : 1-May-24

The federal government’s budget on 14 May is expected to include a significant investment in ‘green’ hydrogen. This is tipped to exceed the $2bn that Labor committed to its Hydrogen Headstart program in 2023. Clean Energy Council CEO Kane Thornton notes that the government considered that investment to be a "down payment" on its support for Australia’s nascent hydrogen industry. There is speculation that the government will provide the hydrogen industry with direct subsidies; the options under consideration are said to include a tax credit model and a reverse auction process.

CORPORATES
CLEAN ENERGY COUNCIL LIMITED

End of subsidy will risk power bill cut

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Original article by Patrick Commins, Sarah Ison
The Australian – Page: 1 & 2 : 20-Mar-24

The Australian Energy Regulator’s proposed changes to the default market offer could reduce household power bills by up to 7.1 per cent in 2024-25. Businesses in turn could see their electricity costs fall by up to 10 per cent. However, the AER’s proposed changes to the default market offer will be offset by a likely big increase in electricity bills for many households if the federal government does not renew its commitment to the energy bill relief fund in 2024-25, which is jointly funded by the states. It has provided energy subsidies to people on low incomes and small businsses.

CORPORATES
AUSTRALIAN ENERGY REGULATOR

HomeBuilder package most effective stimulus in a decade

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Original article by Simon Benson, Mackenzie Scott
The Australian – Page: 1 & 4 : 14-Jul-20

Nearly 40,000 people are believed to have registered for the federal government’s HomeBuilder grants since the scheme was launched on 4 June. Data from the Housing Industry Association shows that sales of new homes increased by 77 per cent in June; however, chief economist Tim Reardon says the data for July and August will indicate whether the surge in June was a one-off. Assistant Treasurer Michael Sukkar says HomeBuilder is working as intended, by stimulating construction and renovation activity and generating work for tradespeople.

CORPORATES
HOUSING INDUSTRY ASSOCIATION LIMITED, AUSTRALIA. DEPT OF THE TREASURY

HomeBuilder scheme prompts oversupply fears

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Original article by Nila Sweeney
The Australian Financial Review – Page: 31 : 9-Jul-20

Some residential property developers have reported a sharp rise in sales since the federal government announced its six-month HomeBuilder scheme in June. Cedar Woods’ chief financial officer Leon Hanrahan has warned that some developers could overbuild in response to the scheme, resulting in an oversupply of new housing. Jeremy Sheppard of Select Residential Property says the risk of an oversupply is particularly high at housing estates in the outer suburbs of capital cities.

CORPORATES
CEDAR WOODS PROPERTIES LIMITED – ASX CWP, SELECT RESIDENTIAL PROPERTY

NBN needs subsidies: Sims

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Original article by Max Mason
The Australian Financial Review – Page: 9 : 1-Nov-17

The national broadband network’s uniform pricing policy means capital city users are effectively subsidising the provision of NBN’s fixed wireless and satellite services in regional and rural areas. ACCC chairman Rod Sims argues that these unprofitable services should instead be subsidised via the Budget, adding that the Federal Government should make a decision on whether to do so in mid-2018. Sims adds that it may be appropriate to write down the value of the NBN.

CORPORATES
AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, NBN CO LIMITED, TELSTRA CORPORATION LIMITED – ASX TLS

Abbott opposed cheaper gas push: Libs

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Original article by Phillip Coorey
The Australian Financial Review – Page: 6 : 21-Sep-17

Some Coalition MPs have criticised the stance of former prime minister Tony Abbott on the issue of energy policy, after he threatened to vote against the government if it legislates to provide more renewable energy subsidies. Abbott’s critics within the Coalition note that he recently opposed a push for LNG export controls due to sovereign risk concerns, while he had also opposed the abolition of the Renewable Energy Target when he was prime minister.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, AUSTRALIAN LABOR PARTY, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION

Ron Walker’s cancer drug crusade pays national dividends

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Original article by Anne Hyland
The Australian Financial Review – Page: 1 : 29-Jun-15

The Australian Government will subside a cancer treatment that has been credited with saving the life of businessman Ron Walker. Keytruda will be added to the list of cancer drugs that are subsidised via the Pharmaceutical Benefits Scheme, which means cancer patients will pay at most just $A37.70 to access the drug. It would previously have cost some $A150,000 per year to be treated with Keytruda. Walker had lobbied the Government to subsidise the drug.

CORPORATES
AUSTRALIA. DEPT OF HEALTH, MERCK AND COMPANY INCORPORATED, LIBERAL PARTY OF AUSTRALIA