Media

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

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

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

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

The Lights Will Stay On report released today warns delays to closing Eraring – Australia’s largest coal-fired power station – and the smaller Vales Point would cost the bank and risk the nation’s emissions reduction target, AAP reports. Analysis by Climate Energy Finance’s director, Tim Buckley, finds NSW can close the power stations as planned with slight incentives for solar and wind investment. Read more

The NSW government is being urged to save the estimated $200 million to $400 million annual cost of keeping the state’s largest coal-fired power station open and invest the money in accelerating its clean energy rollout instead. A new report by Tim Buckley of Climate Energy Finance rejects mounting calls by energy customers for Origin Energy’s 2880 megawatt Eraring power station to be kept open beyond its scheduled 2025 closure date. Read more

Eraring Power Station can close on time in 2025 if the NSW government takes steps to accelerate renewable energy projects, a report says. The report, to be released on Tuesday by Climate Energy Finance (CEF) think tank, said there was “no case to delay the planned closure of Eraring”. Read more

NSW can safely close Australia’s largest coal-fired power station in 2025, secure supply and reduce power bills with a speedier rollout of renewables, analysis shows. The Lights Will Stay On report released on Tuesday warns delays to the closure of Eraring and the smaller Vales Point would cost the bank and risk the nation’s emissions reduction target. Read more

An Australia-South Korea Compact across value-added critical mineral industries, and scaling of the capacity and cooperation of our respective export credit agencies, should be a strategic federal priority for Australia. Such a Compact would bring material gain to both economies as Australia seeks to move beyond its dig and ship history and capture value further downstream by value-adding and building batteries onshore. Read more

Tim Buckley, from Climate Energy Finance, emphasizes Australia’s opportunity to play a more significant role in the full electrification of various sectors. Tim notes Australia’s position as a significant global exporter of lithium, iron ore, and coke coal, and the need to capitalise on this status to usher in the transition to electric vehicles. Read more

Australia has been urged to ink a battery supply chain pact with leading car maker South Korea to kickstart local industry. A globally competitive battery manufacturing capability onshore in Australia could be part of a critical minerals compact with the country’s top three trading partners, a think tank said in a report released on Thursday. Read more

Buckley of Climate Energy Finance pointed out Australia could also have an opportunity when it comes to heavy haulage electric trucks, since as a nation we command much of the market via our mining industry. “In heavy haulage vehicles, Australia is number two,” he said. Read more