Wind farm turbines on the water



CEF in the media  |  Aug 22, 2023

Eraring and Loy Yang A coal closure wrangles show need for hard renewable targets

Renew Economy

Environmental activists point out that paying hundreds of millions of dollars a year to keep Eraring open is not needed, and that two reports – including “The Lights Will Stay On” by the Climate Energy Finance and “Earing can be closed on schedule” by Nexa Advisory – outline why and how Eraring should close on time. Read more
CEF in the media  |  Aug 22, 2023

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. Read more
CEF in the media  |  Jul 28, 2023

Power Up: Renewables are hammering down electricity prices


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
CEF in the media  |  Jul 28, 2023

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. Read more
CEF in the media  |  Jul 27, 2023

Climate Energy Finance says Hunter communities would be the major beneficiaries of progressive coal royalties

The Newcastle Herald

Hunter communities undergoing unprecedented social and economic upheaval due to the clean energy transition would be the main beneficiaries of a progressive coal royalty system, Tim Buckley argued. The NSW government is investigating increasing mining royalties as part of an effort to boost the state’s bottom line when the temporary cap on coal prices implemented to curb soaring electricity prices expires. This could involve the introduction of progressive royalties, which would require coal companies to pay more as the coal price increases. Read more
CEF in the media  |  Jul 27, 2023

Call to combat costs with solar powered social housing

Canberra Times

CEF’s report into NSW’s energy transition last week recommended the state use social housing and other government-owned buildings to build a steady pipeline of solar-panel “power plants”. Report author Tim Buckley said solar could replace half of the capacity lost when NSW coal-fired power stations Eraring and Vales Point retire in 2025 and 2029 respectively. “It requires next to no grid upgrades, so no cost-of-living pressure, and it can be done really bloody quickly.” Read more
CEF in the media  |  Jul 27, 2023

Fixed income asset managers continue to fund fossil fuels

Capital Monitor

At the beginning of June, the Toxic Bonds initiative collected evidence that confirms that funding into Adani Green Energy is being redirected, through collateralisation and related party transactions, to other Adani Group entities directly responsible for coal expansion projects. “Any so-called green investment in Adani Green directly supports the wider Adani Group to be the world’s largest private coal mine and coal power plant developer,” says Tim Buckley. Read more
CEF in the media  |  Jul 23, 2023

Tim Buckley tells Sky News the closure of Eraring coal power station can happen on time in 2025

Sky News

Tim Buckley says there are more than enough renewables investment proposals in the pipeline to offset coal closure and deliver lower prices, but we need the NSW government to expedite approvals processes and support the scaling of rooftop solar to bring capacity online. Read more
CEF in the media  |  Jul 21, 2023

‘Excessive’ power costs for consumers questioned as wholesale prices tumble

ABC online

As the coal lobby argues for Eraring’s life to be extended beyond 2025, Tim Buckley said: keeping Eraring open longer than planned would cost taxpayers between $200 million and $400 million a year in subsidies. He argued the money would be better spent on speeding up the development of renewable energy capacity needed to replace fossil fuels. Read more
CEF in the media  |  Jul 20, 2023

Liddell power station closure contributed to higher energy prices, regulator says

ABC online

Tim Buckley: “There is more than enough new capacity in the pipeline to replace closing coal power stations. It’s a question of whether the NSW bureaucracy is going to actually approve it. We have seen a little bit of a lull in new investment decisions. And that’s really coming back to regulatory inertia. The energy minister must place pressure on the bureaucracy to approve renewables faster. We’ve seen batteries have been built in just 12 months once they get to final investment decision.” Read more
CEF in the media  |  Jul 20, 2023

AER Energy Report – Price Impact


Tim Buckley on ABC TV 7pm News responds to the AER’s Wholesale Markets Quarterly Report, noting that there is more than enough renewables capacity in the pipeline to offset coal power closures – it is a matter of whether the NSW bureaucracy is going to approve it in a timely way. Read more
CEF in the media  |  Jul 18, 2023

OP ED | Australia’s biggest coal plant can close in 2025 and lights won’t go out. Here’s how

Renew Economy

The fossil fuel lobby and certain parts of the media are agitating for an extension of Eraring coal power station beyond 2025 under the pretext that closure must be pushed back to ensure supply and “keep the lights on.” This is a massive furphy and a bad idea. Delay would put power affordability, reliability and security at risk. It would undermine both the NSW government’s climate policy, and the federal government’s 82% by 2030 renewable energy target and its legislated 43% emissions reduction target. Our new report outlines how closure can happen on time – the project pipeline and investment capital are ready and able! Read more

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