Energy Crisis
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Global sustainability: The critical minerals opportunity in Australia
CEF’s Tim Buckley told UBS analysts of Australia’s potential to be a renewable energy superpower, given abundant critical minerals, scope to value-add and minimal supply chain risk. 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
The energy transition – a huge opportunity for Australia
In this presentation for the Moir Group, Tim Buckley looks at key trends in the energy transition including renewable energy price deflation, emissions pricing, market returns, China’s dominance in decarbonisation, the US Inflation Reduction Act and the EU Net Zero Industry Act, and Australia’s once in a century opportunity to lead the world in critical minerals and energy transition materials value-added processing and manufacturing, powered by renewables. Read more
EU’s new Net Zero Industry & Critical Raw Materials Acts dramatically escalate pressure on Australia to seize once-in-a-century cleantech opportunity
The global race to decarbonisation massively escalated overnight with new regulations designed to turbocharge and onshore cleantech in the EU, following the US’s game-changing Inflation Reduction Act, which is spearheading the energy revolution there. The challenge is now on for Australia to accelerate investment and leverage its competitive advantages as a value-adding energy transition materials and renewables superpower – or miss the boat. 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
New global study quantifies human toll of fossil fuel price inflation
(as industry revels in superprofits)
A new study in Nature Energy released overnight quantifies the devastating toll of global energy price hyperinflation, with household energy costs spiking up to 113% in 2022.The report said the price crisis could push up to 141 million people into extreme poverty. Meanwhile, as Tim Buckley notes in this analysis, fossil fuel multinationals have extracted massive war superprofits, bringing to the fore again the case for proper taxation of these corporates. 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