Gas generation slumps in first half of 2021, as wind and solar continue to shine
Renewables have outshone gas generators during the first half of 2021, with the fossil fuel continuing to play a diminishing role in Australia’s electricity markets as lower cost wind and solar meet an increasing share of our energy needs.
Corporate and investor activity driving prices higher in Australian carbon market
The Australian carbon spot price continues to break new ground on an almost weekly basis, with Australian Carbon Credit Unit (ACCU) spot price assessment growing 5.5% to $21.10/t over the past fortnight. The spot price has now grown 28% year-to-date, from $16.52/t on 1 Jan-21.
Green manufacturing hubs in mining regions could add $30bn to the economy, new report says
Green-powered industrial hubs in Gladstone and the Hunter Valley could add $13bn to the nation’s economy and create 45,000 jobs, new economic analysis claims.
Longford disruption ups pressure on east coast gas as prices spike
The biggest domestic gas production plant on the east coast suffered another disruption to production over the weekend, triggering a fresh spike in prices and increasing nervousness about supply security in the southern states for the rest of the winter.
Energy giants tipped to gain as Asia’s LNG demand heats up
Australia’s big natural gas exporters are poised to cash in on the strong demand across northern Asia that has propelled the prices of the fossil fuel out of their COVID slump.
Transgrid’s big battery to stand on own two feet
TransGrid has unveiled plans for a large battery to be built in western Melbourne without any call on government funding, demonstrating a turning point in the rapidly developing market for grid-scale energy storage.
ACT gas to electricity transition to challenge Canberrans, ARENA says
The ACT will become the first jurisdiction to face significant challenges in transitioning away from gas to electricity due to its colder climate, the federal government's renewable energy agency has said.
Japan giant signs deal for 30 Australian solar farms with battery and hydrogen storage
Japanese industrial giant Marubeni Corp has signed a landmark deal with Australian investor Providence Asset Group for the development of 30 community-based solar farms which will combine battery and hydrogen storage.
Manufacturers raise the alarm over gas price surge
Manufacturers are sounding the alarm as east coast gas prices surge to levels not seen since 2016, thanks to cold winter weather and gas having to be diverted to generate electricity after the breakdown of coal-fired generators.
Small retailers welcome investigation into Snowy gas plant bidding practices
Small electricity retailers have welcomed confirmation that competition regulators will investigate potentially uncompetitive bidding behaviour by gas generators that saw wholesale electricity prices spike and forced an aluminium smelter to cut production.
Solar tax debate futile unless we tackle the “original sin” of price regulation
When it comes to energy market regulation, few proposals elicit the type of reaction seen in response to the suggestion that networks should be allowed to charge customers for the solar power they export into the grid.
Yallourn stuck on quarter capacity as scramble continues to save coal mine
EnergyAustralia’s Yallourn coal-fired power station continues to operate at a quarter capacity, with no clear decision yet on how to fend off the threat of flooding at the neighbouring brown coal mine that feeds the plant.
Morrison ministers lay groundwork for nuclear energy election plan
The option of taking a proposal for nuclear power in Australia to the next election has been considered in cabinet-level discussions as pressure grows within the Morrison government to prepare for a nuclear energy industry.
Regulator puts power, gas suppliers on notice
The Australian Energy Regulator has put both traditional electricity and gas suppliers and renewables generators on notice that they are risking heavy penalties for actions that risk undermining the stability of the fast-transitioning energy sector.
AGL fails in court bid to stop Greenpeace from using its logo in climate campaign
AGL Energy has failed in a court bid to stop Greenpeace using its logo in a scathing campaign labelling the electricity giant “Australia’s biggest climate polluter”.
NSW launches $50m grant program for pumped hydro projects
The NSW government has launched a $50 million Pumped Hydro Recoverable Grants Program, as it looks to add as much as 3,000MW of new long-term dispatchable storage capacity.
Central Queensland hydrogen plant site secured but feasibility study forthcoming
The State Government has secured a 236-hectare site at Aldoga, west of Gladstone, for a three-gigawatt hydrogen plant expected to supply domestic users by 2026 and international users by 2030.
Callide outage feeds 60pc power price surge
Last month’s explosion at Queensland’s Callide power station and gains in gas prices have given a huge boost to depressed wholesale power prices and fuelled suspicions among some industrial users that generators are taking advantage to reap super profits.
Tesla to buy more than $1 bln of Australian battery minerals a year
Tesla (TSLA.O) said it expects to spend more than $1 billion a year on battery raw materials from Australia given the country's reliable mining industry and responsible production practices.
Angus Taylor signals end to ad hoc energy intervention
The Morrison government has promised an end to ad hoc energy market intervention in a bid to spur investment in on-demand generation amid a plan by pipeline giant Jemena to pursue a renewable gas target to boost the use of fuels including hydrogen.
Energy retailer asks ACCC to probe possible “market gaming” in NSW
The Australian Competition and Consumer Commission has been asked to investigate potential market gaming in the NSW electricity market over the last week, where prices have repeatedly jumped to the market cap despite no big spikes in demand or supply problems.
Shell and Edify in landmark big battery storage deal in NSW
Shell Energy and Edify Energy are to build big 100MW, two hour battery storage facility in the Riverina region of NSW in a landmark electricity supply agreement with the state government.
Snowy Hydro bosses defend $600m gas plant as key to avoid blackouts
Commonwealth-owned energy company Snowy Hydro has defended the federal government’s $600 million investment in a gas-fired power plant, declaring it may prove vital in preventing blackouts and replace capacity lost when AGL closes its Liddell power plant.
Queensland hit by huge power outage
Queensland has been hit by a huge power outage with some 375,000 customers impacted from the Gold Coast to Caboolture north of Brisbane, and multiple coal power units said to be offline.
AGL signs contractor for Liddell demolition, as it juggles closure units
AGL Energy has taken the first early steps towards the closure and demolition of the ageing Liddell coal-fired power station in the Hunter Valley, selecting a key contractor to advise AGL through preparatory works.
Wind and solar will keep electricity market prices low, but headwinds grow for gas
In our latest Australian Electricity Outlook (AEO) for the National Electricity Market (NEM), published on Thursday, we present our expectations for LGC and wholesale electricity price development in each region of the NEM over both medium-term (four years) and long-term horizons (20 years).
Power reliability at risk by 2030 after Yallourn closes
The pending early closure of the Yallourn power station in 2028 has triggered a warning from the operator of the country’s electricity market of an increased likelihood of blackouts in Victoria and South Australia late this decade unless new on-demand generators are built.
Cash for gas and big emitters in another miserly budget for clean energy and EVs
The Morrison government has delivered another federal budget that offers little support for Australia’s rapidly emerging clean energy sector, choosing instead to double down on its ‘gas fired’ agenda and pay major emitters to reduce their emissions.
Budget 2021: Scott Morrison turns green with energy
The budget has allocated $1.6bn of investment towards low-emissions technologies — including funding for hydrogen and energy storage — as Scott Morris¬on tries to reverse global perc¬eptions his government does not take climate change seriously.
Too easy to make ESG claims under Australia’s lax rules, says Australian Ethical
Australia’s most successful ethical fund manager has called on the government to accelerate efforts to introduce a labelling scheme for investment products to stamp out the “greenwashing” of investments that aren’t quite what they claim.
AGL split on track after CEO exit: Peter Botten
AGL Energy’s new chairman Peter Botten says the board was “shocked” by Brett Redman’s decision to resign as chief executive but maintains that a planned demerger is on track while rejecting speculation the board might have grown resistant to a split of the company.
Rooftop solar sends average South Australia daytime power prices below zero
South Australia has set a stunning new benchmark in the electricity market, with its big share of rooftop solar sending the average daytime wholesale price of electricity to below zero in the first quarter.
Wind and solar deliver stunning price, demand and emissions falls in main grid
The ongoing expansion of wind and solar power in Australia’s main grid has delivered stunning price falls in the latest quarter, along with big falls in demand and further reductions in emissions. The absence of any major outages in the summer season meant that the grid was cheaper, cleaner and more reliable.
Morrison government on the hard road to net zero by 2050
Australia will have to significantly ramp up its carbon emission reductions if it wants to reach net zero emissions by 2050, according to energy experts.
Carbon levels hit high despite pandemic
Carbon dioxide levels in the northern hemisphere were on average 50 per cent higher than before the industrial revolution last month and are expected to set a new peak of 419.5 parts per million this year.
Big emitters’ green goals drive AGL to mull ‘hybrid’ power plans
Energy giant AGL has struck a partnership to assess developing huge hybrid power systems to help decarbonise some of Australia’s most emissions-intensive industrial operations such as mine sites, oil and gas facilities and refineries.
Australia’s main grid hits record renewables high of 56 per cent on Sunday
Australia’s main grid reached a record level of renewables in its electricity supply, and a record level of wind and solar penetration on Sunday.
‘Energy tracing’ raises the bar for clean energy
When blinds maker Hunter Douglas offered employees the opportunity to buy cheap solar power from the rooftop of its factory in north-western Sydney, it relied on “energy tracing” technology to make it happen.
‘Money where our mouth is’: Matt Kay’s Beach Energy hunting for gas amid fears of south-east shortfall
Matt Kay spends much of his time focused on a fast-approaching problem: south-eastern Australia is running out of gas.
Turnbull named head of NSW government’s climate advisory board
Former prime minister Malcolm Turnbull has been appointed to head a new board to advise the NSW government’s long-term climate policy in his first major political post since leaving Parliament almost three years ago.
AGL Energy strikes tie-up with UK’s OVO to fuel smart power push
Power giant AGL Energy has struck a digital tie-up with one of Britain’s biggest energy suppliers, buying a majority stake in its Australian business and tapping into its tech platform Kaluza.
Australian emissions fall again due to renewables and COVID-19
Australia’s greenhouse gas emissions continued to decline at the end of 2020 as an acceleration of the decarbonisation of the electricity sector outweighed a revival of pollution from transport and industry, according to analysis by consultants.
Nuclear energy plan and desal plant for Upper Spencer Gulf key to growth, resources lobby says
A “nuclear energy road map” should be developed for South Australia, and the State Government should look at building a desalination plant and major water pipeline in the Upper Spencer Gulf, the state’s chief resources lobby says.
AGL’s green makeover
AGL Energy will look to win support from investors to create two ASX-listed companies through a demerger after splitting its retail and supply arms to form a green electricity retailer and generation giant dominated by coal power.
AEMC signs off on rules to prevent wind and solar plants deliberately cutting output
The Australian Energy Market Commission (AEMC) has signed off on new rules designed to prevent wind and solar projects from unilaterally reducing or turning off their output without warning to avoid periods of low or negative wholesale electricity prices.
AGL seals $2.7b wind power deal to help ‘orderly’ shift away from coal
A consortium involving AGL and Australia’s Future Fund has sealed a $2.7 billion takeover deal for wind farm operator Tilt Renewables as top power providers accelerate the shift away from coal.
Switching off rooftop solar will become an important feature of a renewables grid
Australia’s biggest grid problems have traditionally been framed as problems of supply and demand, particularly where there is not enough supply to meet the demand at any one point in time. But that network challenge is about to be turned on its head: the biggest problem in the future will be not enough demand, because most consumers have their own supply in the form of rooftop solar.
Why Forrest’s green power station is being blocked
The NSW government has embraced Andrew Forrest’s offer to build a natural gas and hydrogen-fuelled power station at Port Kembla as the state looks to a secure energy future and life after coal.