AGL China Coal Critical minerals Decarbonisation Electricity/electrification Energy crisis Finance Sector & Emissions Hydrogen India & Adani offshore wind Renewables Taxes and subsidies US IRA/EU NZIA et al
Giant coal-fired power station should stay open, NSW review finds
The Australian Financial Review
Clean energy investors said delaying the closure of the generator could crimp new investment in new clean energy projects and blow out Australia’s emissions target and budget. “Australia cannot afford to have that at this time,” said Simon Corbell, chief executive of the Clean Energy Investor Group, representing investors with about 11 gigawatts of installed renewables capacity.
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Climate and Energy Finance: Awakening the Sleeping Giant
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An extended interview with Tim Buckley on the Utopia Now! podcast covering why finance is important for mitigating the ecological and climate crisis, how the green energy transition is going, whether we are decarbonising fast enough, and government capture by fossil fuel interests amongst other topics.
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OP ED | All carrot, no stick: What Australia can learn from US approach to renewables
Renew Economy
On the first anniversary of the game-changing US Inflation Reduction that has turbocharged energy transition there and triggered a global race to the top, Tim Buckley and Blair Palese review its top 5 impacts and the top 5 actions Australia should take to respond.
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Manufacturing Australia’s answer to the climate crisis
AAP
Tim Buckley speaks at the Australian National Manufacturing Summit noting that while the federal government has plans to value add to get more out of the country’s rich endowment of in-demand minerals, “Australia’s critical minerals strategy has lovely words but $500 million doesn’t cut it,” in the context of massive accelerating public capital commitments to energy transition by our trade partners and competitors.
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VNI West controversy continues
AAP
Tim Buckley said reconfiguring the transmission grid would increase reliability and is key for decarbonisation and a shift away from fossil fuel commodity volatility.
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OP ED | It’s time to power up from a petrostate to an electrostate
The Australian Financial Review
The Productivity Commission report is a misreading of the implications for Australia of a profound global geopolitical shift already underway: unprecedented government intervention by the United States, European Union, Canada, South Korea, Japan and a growing list of other economies to reposition themselves in the accelerating global energy transition, rebuild manufacturing onshore, and secure clean-tech supply chains against China’s decade-long head start.
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Emission control: Just how viable is Victoria’s move to ban gas in new homes
Stockhead
As Victoria bans methane gas in new homes, Tim Buckley notes the rollout of green hydrogen is facing its own challenges. Whilst Australia’s $2bn Hydrogen Headstart scheme, set to start in fiscal 2027, has been touted to kick start the hydrogen economy, Tim Buckley warned that handing out money is not an economical or long-term solution. “Subsidies are time limited, which means they are limited in their effectiveness and nature. The industry is not going to be viable absent those subsidies. You ultimately need a price on carbon,, where companies would do the right thing or pay tax for doing the wrong thing, in this case carbon emissions.”
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The gas industry used to be unassailable in Australia: not any more
The Sydney Morning Herald
As Victoria bans gas in new homes, Tim Buckley says the decision signals a broader shift in attitudes towards gas. Having sold Australian gas offshore more cheaply than it did domestically the industry is losing its social license. It is now an easier target for reform by governments determined to cut greenhouse gas emissions and household costs.
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Power Up: Renewables are hammering down electricity prices
Stockhead
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.”
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AEMO quarterly energy report sees a drop in electricity prices
Energy Monitor
AEMO reports the June quarter wholesale electricity prices are down 59 per cent year-on-year. That is a major relief after 18 months of unprecedented fossil fuel hyperinflation,” Tim Buckley said.
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AEMO Quarterly Energy Dynamics report
ABC NewsRadio
As Tim Buckley says, AEMO’s report shows electricity prices are down as fossil fuel hyperinflation driven by war profiteering of coal and gas producers moderates and renewables start to come online. Wholesale electricity in the June quarter have dropped 59% in the June quarter year on year.
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