Director at think tank Climate Energy Finance, Tim Buckley, said urgent action was needed from state and federal governments. “Accelerating the pace of energy transformation and transitioning our grid is critical to ensuring reliable energy supply and solving the current energy crisis,” he said. Read more

Director at think tank Climate Energy Finance, Tim Buckley, said urgent action was needed from state and federal governments. “The message is clear: accelerating the pace of energy transformation and transitioning our grid is critical to ensuring reliable energy supply and solving the current energy crisis precipitated by the hyperinflation of fossil fuels,” he said. Read more

Despite alarm in the finance press over the closure of coal plants, according to Tim Buckley, director of independent energy finance think tank Climate Energy Finance “forced outages at Australia’s ageing coal power fleet left the grid short of forecast coal generation capacity for nearly one-quarter of the year.” Keeping Eraring open would close the forecasted reliability gaps, yet there are concerns regarding the capacity of the ageing generator. And the cost to NSW taxpayers says Tim Buckley is likely to be north of $200m a year. Read more

Climate Energy Finance Director, Tim Buckley, said that the AEMO’s statement demonstrates that State and Federal Governments must move with urgency to expedite planned transmission projects, utility and distributed renewable energy generation, and storage. “While AEMO’s projections show that in the absence of accelerated delivery some gaps in reliability will arise over the coming decade, this is a result of the retirement of 62 per cent of Australia’s end-of-life coal power clunkers by 2033 – generators that are in any case increasingly unreliable and prone to unplanned outages that impact supply,” Mr Buckley said. Read more

Director at think tank Climate Energy Finance, Tim Buckley, said urgent action was needed from state and federal governments. “Accelerating the pace of energy transformation and transitioning our grid is critical to ensuring reliable energy supply and solving the current energy crisis,” he said. Read more

Tim Buckley told Utility Magazine “the leaked recommendation to extend Eraring’s life ignores the dual cost of living and climate crises smashing the people of New South Wales. The hyperinflation of fossil energy is driving these, handing windfall profits to multinationals as taxpayers and our environment wear the costs. Only an accelerated transition to cheap, deflationary firmed renewables will solve these twin crises.” Read more

Director of think tank Climate Energy Finance and author of The Lights will Stay On report on the Eraring closure, Tim Buckley, said that there are leaked reports that the NSW Electricity Supply and Reliability Review will recommend taxpayer subsidies to extend the life of Eraring coal power station beyond its expected closure date. Mr Buckley said that this would be a massive retrograde step, when the exact opposite is needed – implementation of an accelerated transition to firmed renewables. Read more

Tim Buckley told Sky NewsDay that the Australia’s biggest coal power station, Eraring in NSW, can and should close on time in 2025, and the NSW government should not prop up its operator with $200-400m pa in public subsidies when this money should be invested in the energy transition, slashing power bills and addressing the climate crisis. Read more

Tim Buckley said: “Application approvals of new zero-emissions replacement capacity in FY2023 trebled to 7 gigawatts (GW) vs the previous two years, but we are still not seeing grid transmission and planning access bottlenecks removed. There is a record 30GW of new renewable energy capacity now in the connection pipeline, but just 3GW was completed in FY2023. We need to see the rate of completions double to replace end-of-life coal power station capacity inevitably and predictably coming offline.” Read more

Climate Energy Finance Director Tim Buckley says United States President Joe Biden is seeing a “huge surge” in employment activity after the country invested in manufacturing. “The US has the inflation reduction act, and we are seeing investors piling in,” Mr Buckley told Sky News Australia. “There’s a bit of trade war that’s emerged between America and China and America’s response is to invest in manufacturing capacity in America, and so President Biden’s seeing a huge surge in employment activity.” Read more

Climate Energy Finance Director Tim Buckley says China and America are investing in solutions to solve the climate crisis which include solar power. “It is staggering to see how much manufacturing activity is actually underway in 2023 and it’s been led by China,” Mr Buckley told Sky News Australia. “It’s great in many respects, we’ve got a climate emergency, but it’s great both China, America even Europe, Japan, Korea, India they’re all piling in, they’re all responding and they’re investing in solutions at a scale that actually could solve the climate crisis.” Read more

As the global output of solar panels increases, Australia is set to benefit from an electricity price fall of 10%, a report from the think-tank Climate Energy Finance calculates. The Solar Pivot report by analysts Tim Buckley and Xuyang Dong forecasts that “solar costs will halve again before 2030, underpinning an accelerating disruption of world energy markets and driving energy transition momentum”. Read more