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Energy price caps a rare blow to fossil fuel giants
The Saturday Paper
As Woodside and Shell pause negotiations to supply east coast gas in 2023 and 2024, kicking and screaming against the federal government’s necessary and reasonable energy price relief bill, Tim Buckley notes “That is a supply strike – overtly withdrawing capacity from the market. And Woodside doing it, knowing that Shell’s doing it, is collusion”.
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Australia was always bullied by vested interests, until now
Sydney Morning Herald
As political and international editor Peter Hartcher notes in his weekly SMH column, the Albanese government has called the gas giants’ bluff, quoting Tim Buckley’s comment that the 50% drop in forward wholesale power prices in NSW and QLD is a staggering endorsement of the government’s efforts.
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OP ED | Why it’s time to switch off the gaslighting fossil fuel industry
Canberra Times
Our op ed on the federal government’s landmark energy price relief bill that the puts price-gouging, planet-destroying, energy security-threatening, colluding fossil fuel industry in their place, as the market responds with an emphatic endorsement, dropping forward electricity prices in NSW and QLD by ~50%.
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Labor passes energy price bill
Sky News
Tim Buckley on Sky Regional Breakfast discussing the unprecedented but necessary intervention by the federal government in the energy market, which responds to a clear market failure by protecting Australians from the war-profiteering, price-gouging gas cartel.
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Crazy Power Wars Down Under
Clean Technica
In this article on the federal government’s energy price relief bill which imposes a wholesale price cap on coal and gas to the vociferous protests of the fossil fuel industry, Tim Buckley notes that “In the last few days the gas lobby has shown that it is determined to ensure that nothing will get in its way as it plunders our sovereign public assets to line its own pockets.”
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Electricity prices plunge as Greens hail cap and “beginning of the end of gas”
Renew Economy
Tim Buckley welcomes the entirely necessary market intervention by the federal government in the form of its successful energy price relief bill to counter the fossil fuel bill shock inflicted by the fossil fuel industry on Australians
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Wholesale power prices down 50pc
The Australian Financial Review
Tim Buckley describes the halving of forward prices for wholesale power in NSW and QLD as “a staggering real-time endorsement of the government’s efforts” to rein in prices.
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Threat of energy price cap already working
AAP
In this story across 100+ mastheads on AAP, Tim Buckley says the 50% drop in forward pricing of wholesale electricity in NSW and QLD in the first quarter of 2023 shows the market had already endorsed the federal government’s price relief plan.
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Crossbenchers urge long term energy action
Canberra Times
Tim Buckley comments in this story in Canberra Times and 100+ mastheads on the federal government’s energy price relief plan, noting that only when we cut ties with the rapacious fossil fuel industry will we be free to harness our plentiful, low-cost clean energy, and the enormous benefits of this once in a century transformation
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Energy price relief plan to limit bill blowout
ABC Radio
Tim Buckley is interviewed on ABC Radio Sydney about the federal government’s necessary energy market intervention that will see it cap wholesales prices of coal and gas and rebate power bills – noting that the forward electricity market in NSW and QLD has already endorsed the government’s plan by pricing in a 50% reduction in wholesale prices for the first quarter of calendar year 2023.
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In review: where Australia’s make-or-break climate policies are at after tumult of 2022
PV Magazine
CEF’s policy paper on the Safeguard Mechanism, designed to reduce emissions from Australia’s 200+ biggest emitters, is linked in this story which looks at current reviews of Australian Carbon Credit Units and the SGM. CEF notes that legislation of the SGM, not regulation, is required, and the SGM should adopt an avoid>minimise>mitigate>offset hierarchy.
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Fossil fuel hysterics make coal and gas price caps look like a really good idea
Renew Economy
Tim Buckley’s data showing that fossil fuel multinationals made $120bn in profits in 2022 is quoted in this story noting that the industry is not coping well with the idea that its days might be numbered.
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