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DEVELOPING NEW GAS PROJECTS IS 100% THE WRONG ANSWER: Response to Australian Federal Resources Minister Madeleine King’s address to APPEA conference
As APPEA members and lobbyists gather for the annual gas shills’ jamboree and talkfest, we take a forensic look at Resources Minister Madeleine King’s keynote address, and deconstruct the baseless claim that we need more gas – when what we need is a fast, dramatic and wholesale pivot to value-adding critical minerals and energy transition materials onshore, backed by a landmark injection of public investment. With the world responding to the game-changing $1tn US Inflation Reduction Act, we delay, we lose. And the train is leaving the station. Read more
ANALYSIS | Federal Budget 2023/24
The Federal Budget is a mixed bag for climate and energy with a serious case of underreach on fixing the failed PRRT gas tax, but some good policy and funding progress on a National Net Zero Authority, energy bill relief and home and business electrification, and measures to respond to the global race to renewables, such as $2bn for a green Hydrogen Headstart program – all in the context of a massive surprise $4.2bn surplus. However, we need to see more fiscal ambition to respond to game-changing international policy and funding reforms such as the US Inflation Reduction Act that are turbocharging global energy transition. Read more
OP ED | Australia needs a stronger alignment of public and private capital to deliver on our energy transition and climate objectives
Our op ed on a new report released today by the Clean Energy Investor Group and Investor Group on Climate Change, flagging that Australian governments need to collectively lift collaboration with private investors, and derisk the electricity sector to crowd-in private capital at the scale and speed required to meet energy and climate objectives. Read more
There is no “gas shortage”, just a shortage of ethics and integrity from gas cartel
The Australian Energy Market Operator (AEMO)’s assertion in its Gas Statement of Opportunity today that we need more new supply to offset purported imminent shortages is counterintuitive. There is no shortage, just a cartel with a chronic shortage of ethics extorting Australians as they export the majority of domestic production and rake in obscene war profits. It should be a major priority for AEMO to provide rule modernisations incentivising new technologies to rapidly decarbonise our grid and decouple from extortionate, polluting, volatile fossil fuels. Read our take. Read more
As regulator flags ~20% hike in retail electricity prices, accelerated energy transition only permanent solution to price pain
Consumers slugged by interest rate rises are in for more pain as the Australian Energy Regulator today flagged retail electricity price rises of ~20% from 1 July – noting that absent the Albanese government’s wholesale domestic coal and gas price cap intervention in December, this would have been more like 40-50%. The solutions: make the war-profiteering fossil fuel multinationals pulling superoprofits from our resources pay a temporary windfall tax to offset cost of living pressures for those hardest hit; and rapidly accelerate decarbonisation, delivering clean low-cost firmed renewables to Australians, permanently reducing power prices. Read more
New green home partnership between CEFC and CBA a welcome step toward residential sector emissions reduction
A new partnership between the Clean Energy Finance Corporation and Australia’s biggest mortgage lender, CBA, to incentivise energy efficiency and cut emissions in the $9tn residential sector is a step in the right direction, but there is scope for more ambition. CEF analyst Nishtha Aggarwal takes a look. Read more
AEMO updates its Electricity Statement of Opportunities
The Australian Energy Market Operator released an update of its Electricity Statement of Opportunities overnight. It confirms significant progress on decarbonising our grid in the last six months, coupled with the urgent need for accelerated investment in new generation, energy storage and transmission to ensure reliable supply as fossil fuels exit the grid, flagging a staggering 209 gigawatt pipeline of new firmed #renewables proposals worth over A$250 billion, and highlighting how decarbonisation is unlocking massive regional employment and investment opportunities. Read more
Heading in the right direction for energy transformation
The Australian Energy Market Operator (AEMO) released its fourth quarter of 2022 Quarterly Energy Dynamics report today. It is a welcome reminder that the energy transition is well established and accelerating beyond expectations. While rampant fossil fuel price hyperinflation caused mass disruption in 2022, the underlying trends are clear – and the burgeoning of renewables and decline of coal and gas in the grid ultimately spell permanent price relief. After the historic Q4 federal government intervention to cap wholesale prices of gas and coal, prices on the electricity futures market more than halved in the final three months of 2022, as renewables set new records. Read more
SUBMISSION | Winterbourne Wind Farm
CEF’s submission to the NSW government on the proposed Winterbourne Wind Farm in the New England region. The project is expected to generate approximately 2,100,000 megawatt hours (MWh) per year of clean, renewable energy — enough to power more than 375,000 average NSW homes for a year. Read more
Cooking with gas on the nose as health concerns mount and governments act
As the ACT bans methane gas connections in new homes, new peer-reviewed research finds that 13% of childhood asthma cases in the US can be attributed to gas stove use. Tim Buckley writes that it’s time to turn off this expensive, toxic legacy fuel, shut down the cartel’s self-interested gaslighting, and “electrify everything” – reaping the economic, health and climate benefits of the transition. Read more
CEF NEWS UPDATE | Hope restored as clean energy momentum escalates – our 2022 wrap
Our wrap of the top ten energy events in 2022, including the end of federal climate and energy policy chaos under the LNP, and our wishlist for an even better 2023! Read more
Federal govt’s big battery play another leap forward to clean, cheap energy
Having moved decisively with an energy price relief plan that addresses the worst of the gas cartel’s market failure, Energy Minister Chris Bowen is again moving at speed on the energy transition, with 8 major new battery developments that will accelerate the deployment of much needed storage for grid firming capacity by 2025, attract close to $3 billion in private capital and add 2GW of capacity. Read more