Media

NSW taxpayers could be on the hook for as much as $150 million a year for every year the Eraring coal-fired power plant remains open, energy analysts predict, with the Minns government refusing to detail the terms of its negotiations with owner Origin Energy ahead of a likely extension beyond 2025. Read more

In Canberra Times via AAP and syndicated to 100+ mastheads: Origin Energy has been in talks with the state government to extend the life of its Eraring plant, located south of Newcastle, after a review warned the scheduled 2025 closure would result in electricity shortfalls and price hikes. NSW officials are yet to confirm how long the plant’s life could be extended or how much it will cost. But analysis by independent think-tank Climate Energy Finance, released on Thursday, found keeping the plant open past 2025 could cost between $120 million and $150 million per year, paid to Origin to subsidise the extension. Read more

Opinion piece from energy leader Danny Kennedy from New Energy Nexus on the opportunity for Australia for invest onshore in battery processing. “Time and again we are faced with this frustrating lack of both vision and understanding of the context, scale and urgency of the task before us. Australia produces over half of the world’s lithium yet retains less than 1% of the profit that lithium eventually delivers in final products of batteries and EVs. Why not invest in manufacturing batteries onshore? It’s a sector ripe for scaling, something we’re told time and again that we can’t do. Why?” Read more

Tim Buckley is director of Climate Energy Finance, a public interest think tank. He said more action could be taken to further lower energy prices in the meantime. Buckley suggested some ways that electricity bills could be lowered while also helping Australia achieve its necessary net zero targets. For example, he mentioned induction cooktops and water heaters and these aspects can really reduce the cost of living pressure and permanently alleviate these problems through accelerated deployment. That means getting away from the high, expensive methane gas that Australia has been addicted to for the last 30, 40, 50 years. Buckley believes there must be a coordinated government campaign to help consumers get through this cost-of-living crisis. Read more

“[Gautam] Adani continues to walk both sides of the street,” said Tim Buckley, director of Sydney-based think tank Climate Energy Finance. The Adani Group is not only one of the largest developers and operators of coal mines in India, but also operates the controversial Carmichael Coal Mine in Australia, which has faced fierce opposition from climate change campaigners who say it is a “death sentence” for the Great Barrier Reef. “Rather than ploughing billions into new fossil fuel projects, India would be far better served if Adani put 100% of its efforts and resources into developing low-cost zero emissions technologies,” Buckley added. Read more

Many Australians could see a reduction in their energy bill prices, according to an announcement made by the Australian Energy Regulator. Yet despite the highly anticipated relief for households, experts say the government could be doing more to lower energy costs during the transition period to cleaner energy. Read more

Australian energy consumers risk benefiting from only a marginal fall in their electricity bills, despite a big plunge in wholesale electricity prices caused by the growth of renewables, and rooftop solar PV in particular. The Australian Energy Regulator on Tuesday released its draft proposals for what is known as the Default Market Offer for 2024/25. Read more

Sydney Ausgrid electricity consumers will see 3 per cent retail price declines for the new financial year starting 1 July 2024 under the Default Market Offer (DMO) draft ruling from the Australian Energy Regulator (AER) this morning, and small and medium enterprise (SME) customers a much more significant decline of 10 per cent. The default market offer is a maximum price that retailers are allowed to charge. Read more

After two years of hefty increases… it looks like the price of power for consumers in the eastern states is set to drop. The Australian Energy Regulator has today released its draft decision on the nation’s main consumer price caps which are known as “default market offers”. It’s recommended the maximum retailers can charge drop by between one and ten per cent, depending on where you live and whether your bill is for a small business or private residence. Read more

A coalition including leading union, investor, energy, industry and First Nations peak groups today called on the federal government to embed requirements for locally produced and supplied components into all renewable energy supply chain manufacturing and development. A measured, considered local content requirement (LCR) in CIS tenders will support the domestic clean energy and technology supply chains to mature. Read more

Tim Buckley, the Sydney-based director of the Climate Energy Finance think tank, said the adoption of DER systems, particularly rooftop solar panels, should be scaled up significantly in Asia to reach their potential. “DER is a massively underutilised resource, particularly for land-constrained nations who have good solar resources like India and others in Asia,” Buckley said. Citing an example in Denmark, Buckley said construction is under way to build the world’s largest solar rooftop power plant. When completed, the plant on top of a logistics centre in the city of Horsens will have 35 megawatts of capacity, equal to a typical solar farm. Read more

On the Planet A podcast dive into the world of renewable energy and decarbonization with Tim Buckley, Director of Climate Energy Finance – an engaging discussion on the future of energy, global energy markets, and how we are becoming a multi-polar world. Read more