Media

Battery storage is supposed to throw a bit more competition into the market. But the problem is that many of these assets are now owned or contracted to the very same energy giants that control the rest of the generation. If anything, it’s made it easier for them to control prices and profits. And being in the grip of the big energy players doesn’t feel like a safe place to be at the moment, especially with gas prices at such highs – five times the price of other international markets – according to Tim Buckley, from Climate Energy Finance. And it gives the Coalition plenty to crow about, something that is now taking hold in the minds of the public. Read more

On The Climatelist podcast, the world of green steel, global carbon pricing, and the opportunities for Australian businesses with Tim Buckley. Discover how China’s dominance in green technologies is reshaping global trade and creating a potential $250 billion export market for Australia. Tim unpacks the complex world of Carbon Border Adjustment Mechanisms (CBAMs) and explores how Australian businesses can lead the charge in embodying decarbonisation for a profitable and sustainable future. Read more

Three-quarters of the gas extracted by Australia is sold overseas, mostly to customers in Japan, China and South Korea. Does this make Australia a petrostate? Tim Buckley, a former investment banker, now director of the analysis firm Climate Energy Finance, is among those who believe it does. He points to the documented history of Australia’s fossil fuel industry to pay, pressure and cajole governments to get its way. The result is that the country has continued to expand gas and coal operations, with no articulated end in sight, since it rejected a climate-laggard rightwing Coalition administration in 2022 and replaced it with a Labor government promising to take a leadership role on the climate crisis. Read more

Source: AEMO Gas Statement of Opportunities If privatisation of gas and electricity networks and the consequent complexity of the market are partly to blame for high energy bills, it is worth pondering whether a more independent regulator might be in order. We are talking about the Australian Energy Market Operator (AMEO), which independent energy expert Tim Buckley described this week as “captured by the methane gas cartel”. Read more

Tim Buckley comments for this feature on Andrew Forrest’s recalibration of his green hydrogen ambitions. Read more

On Counter Punch: According to Climate Energy Finance’s Xuyang Dong, despite China’s reliance on coal, “having China go green at this speed and scale provides the world with a textbook to do the same” Energy experts claim China is upstaging the United States by taking the pole position on an issue that the world is just starting to experience in real time, i.e., the ravages of global warming. Read more

Tim Buckley discusses with Kieran Gilbert the power price spikes AEMO identifies in its latest quarterly energy dynamics report – including the devastating impacts of aging coal clunker outages. Read more

Tim Buckley breaks down why we have seen massive power price spikes in the NEM – coal’s unreliability, system gaming by gentailers and the failure of the approvals system to bring firmed renewables replacement capacity online Read more

Tim Buckley on ABC News: China is installing record amounts of solar and wind, and is building a modern and flexible power system at world-leading speed and scale. Read more

Multinational metals giant Fortescue has confirmed it has put green hydrogen plans for the NSW Upper Hunter on the backburner. Director of energy industry think tank Climate Energy Finance, Tim Buckley, said he understood why FFI had backed away from the Liddell idea after conducting the feasibility study. He said Mr Forrest was ambitious in thinking the project, and other FFI green hydrogen projects, could take off so quickly. Mr Buckley said the technology for green hydrogen was still lagging behind in many respects, especially in the large cost of exporting hydrogen from Australia to the world. “[The technology] is yet to be commercialised, and I say that in terms of production but more importantly in terms of international transportation,” he said. “The cost of the transportation is prohibitive and it’s in fact not even commercially viable at this point in time, and won’t be for another decade.” Read more

Fortescue put green hydrogen partnership with AGL at former Liddell coal power station on the back-burner. Tim Buckley told Michael Condon on ABC NSW Country Hour that Twiggy Forest has scaled back his green energy ambition, and focus on WA and the Pilbara, getting the technology right first before expanding its other parts of Australia. Read more

Climate Energy Finance director Tim Buckley said Fortescue chief Andrew Forrest was not alone in betting big on green hydrogen as part of the energy transition but costs had, in fact, gone up instead of following the usual pattern of better affordability for clean technology such as batteries, solar panels and electric vehicles. “Twiggy went way too hard, way too fast and way too hyped about hydrogen,” Mr Buckley said. “Australia put out like 50 per cent of the world’s press releases of hydrogen in the last five years but none of them have come to fruition.” With Australian coal and gas exports to decline as the world decarbonises, Mr Buckley expressed doubt green hydrogen would be able to fill the void, pointing out the first ship capable of transporting chilled hydrogen at scale is at least 10 years away. He said green hydrogen’s value was helping Australian resources companies to pivot to value-adding, such as processing critical minerals and producing strategic metals such as green steel. Read more