Energy crisis
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Analyst calls for major improvements to Victorian grid resilience
ABC Radio
A leading energy analyst says Victoria needs to improve the resilience of its power supply. Tim Buckley is director of the public interest think tank Climate Energy Finance. He joined Raf Epstein to share his view of what Victoria needs to do to future-proof the grid.
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Why is AGL’s profit soaring as millions of Australians struggle to afford their power bills?
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Millions of low-and-middle income Australian households are struggling to pay soaring power bills, so hearing that one of the big companies supplying that power is raking in enormous profits may be hard to swallow. AGL Energy has posted a first half underlying profit after tax of $399 million, up 359 per cent on the same period last year. It achieved the bumper profit through higher prices for customers.
Tim Buckley told ABC that the wholesale cost has came down, but the retail prices held up. This is due to the function of the regulator’s protections that are in place under the Australian energy regulator. As a result, we see a lag impact on the retail pricing, and we will see a different profile come the 1st of July 2024 than the profile we’ve seen in the last 2 years.
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OP ED | A circuit breaker to give us clear air on heated wind debate
The Newcastle Herald
The transition of Australia’s energy system will simply not happen without diversified supply: offshore wind projects are an important component now available for our future energy system. Climate Capital Forum member and experienced wind energy executive, Naomi Campbell, outlines the extensive feasibility process involved and the opportunity for community engagement.
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VIDEO | Tim Buckley breaks down the COALition’s campaign to kill renewables, aka Climate Wars 2.0
ABC TV News Channel
Tim Buckley breaks down the COALition’s attempt to kill the renewables revolution by sowing disinformation and dissent in the community as the rest of the world rapidly decarbonises
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OP ED | Once again the Coalition is trying to wreck the joint rather than save it
The Sydney Morning Herald
As Tim Buckley and Annemarie Jonson write, the Coalition’s Luddites are at it again, doing what they do best – wrecking the joint as they try to blow up the renewables transition. Meanwhile, investment in the clean energy that will solve the climate crisis and deliver permanent energy bill relief to consumers is skyrocketing
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Are energy giants to blame for abnormally high price inflation?
AusBiz
Tim Buckley, the current director at Climate Energy Finance, offers his insights on the Fels Report which analyses the inflationary impact of corporate greed among aviation and energy companies in Australia. Reacting to increasing energy costs, Tim surmises that Australian consumers face abuses due to the disproportionally high number of oligopolies exerting their market power. Consequently, excessive price inflation, particularly in the energy sector, has become prevalent despite Australia being a premiere energy exporter, with automotive fuel prices increasing by 45%, gas prices by 36%, and electricity prices by more than 20%.
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REPORT OF FELS INQUIRY FINDS WIDESPREAD PRICE GOUGING & UNFAIR PRICING IN ELECTRICITY MARKET
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The Fels report released today finds There is price gouging in the electricity market and widespread gaming of the system by gentailers, as there has been in transmission, meaning consumers are paying too much and exacerbating the cost of living crisis.
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Rally betrays anti-renewables desperation, as Joyce calls on “army” to go home and recruit
Renew Economy
Clean Energy Finance director Tim Buckley says extensive community consultation, including with landholders, communities and First Nations peoples must be central to planning for the rollout of renewables.
But “so should pivoting policy momentum and public capital to our massive, once in a century opportunity to establish Australia as a renewable energy and zero-emissions trade and investment superpower.
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BlueScope receives funding for lower emissions project
FS Sustainability
Climate Capital Forum founder Blair Palese comments on federal government grant to Bluescope Steel for work to reline existing arc furnace in Port Kembla through Critical Inputs to Clean Energy Industries program.
“There is no time left for federal government support for anything except strategies to fully decarbonise as global demand for net-zero materials grows exponentially,” she said.
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Bill shock to ease as cost of power falls, solar shines
Yahoo
Energy analyst Tim Buckley said the regulator would set the next Default Market Offer, which determined what consumers pay, in coming months after wholesale electricity prices halved in the past year. “This follows the progressive unwinding of two years of hyperinflation in coal and gas commodity prices, both internationally and in our domestic energy markets,” he said. Wind and solar supported by big batteries and transmission are expected to bring permanently lower prices for homes, businesses and industry. “After two years of 20 per cent annual retail electricity price rises, consumers can hope for some real energy cost of living relief,” he said.
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Renewables helping drive down energy prices
ABC Radio National AM
Amid the cost of living crisis one ray of sunshine of late has been falling energy prices. And while the mild weather, lower fuel costs and fewer coal supply issues have played a part, the increase in cheap wind and solar energy has also been helping to drive down the cost of keeping the lights on and heating and cooling our homes and businesses.
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Spot prices point to mid-year energy relief for households
The Sydney Morning Herald
Tim Buckley, the director of think tank Climate Energy Finance, said consumers want real energy cost-of-living relief after two years of 20 per cent annual hikes in retail electricity prices, particularly now that wholesale prices halved last year. “This follows the progressive unwinding of two years of hyperinflation in coal and gas commodity prices, both internationally and in our domestic energy markets,” Buckley said.
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