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.
Victoria slammed for refusing to release details of secret Yallourn closure deal
The Victorian Andrews government is facing growing criticism for its refusal to disclose the details of a deal struck with energy giant EnergyAustralia around the closure of the Yallourn brown coal power station in the Latrobe Valley.
Infrastructure Australia warns more storage capacity needed to avoid power blackouts on the road to net zero by 2050
The electricity grid will require “significant investments” in dispatchable energy storage to support a transition to net zero emissions by 2050 or risk major power outages, the nation’s independent infrastructure adviser has warned.
$50m for carbon capture tech to revitalise NSW regions
Regional NSW could get a major boost from carbon capture and storage projects with the announcement of up to $50m in funding to boost the uptake of the technology.
The end of the NEM as we know it
When the Victorian Government announced it was creating VicGrid, a new entity that will be responsible for the connection of renewable energy, it reinforced how impatient many states and territories have become and chosen to ‘go it alone’ when it came to clean energy.
Origin to tap into ‘tipping point’ for EVs
Origin Energy will offer fleets of electric vehicles to corporate customers through a venture that aims to tap the looming “tipping point” away from internal combustion engine cars and give fresh impetus to its push into new energy fields.
The risks of going ‘green’: late entry into a hot sector can turn any investor pale
One of the surprises of the reporting season was surely the speed at which corporate Australia is trying to turn “green”. In fact, the ¬efforts in the CEO suite may only be matched by the speed at which the market is creating “green” products to satisfy investor appetites. Even within the narrow confines of the global resources industry, the “green” factor becomes ever more urgent as the Biden administration moves to set its stamp on environmental planning — this week’s delay on a major US copper mine from BHP and Rio Tinto may be just the start.
AEMO reconsiders plan to model ‘gas led recovery’, after idea panned by energy market
The Australian Energy Market Operator may abandon plans to model a ‘gas led recovery’ scenario as part of its 2022 Integrated System Plan, after a proposal to model the Morrison government’s gas market ambitions vision was widely panned by key energy market stakeholders as being unrealistic.
NSW power projects embroiled in political wrangle
Plans by AGL Energy and EnergyAustralia for new gas-fired power stations in NSW are hanging by a thread amid behind-the-door debate between the state and federal governments on potential support measures from which they are currently excluded.
BHP says long goodbye to thermal coal, looks to solar, wind and battery metals
BHP’s slow exit from the ailing thermal coal market looked more certain than ever on Thursday when the mining giant announced a $US1.6 billion write-down of the value of coal mines in New South Wales and Venezuela.
COVID offered some relief to gas prices, but cartel will ensure it won’t last long
The competition watchdog says weaker demand during the pandemic has pushed the gas spot price down, but has warned fundamental lack of competition that sees Australians paying far more for gas than overseas customers have not been resolved.
Running on empty: Altona oil plant closure sparks fuel security warnings
Unions and business have sounded the alarm over Australia’s fuel security after the closure of one of the country’s last oil refineries, ExxonMobil’s operation in Melbourne’s west, was announced this week.
Solar pushing coal plants to early extinction says ESB’s Kerry Schott
Australia’s fleet of coal-fired power plants faces early closure as renewables continue to heap pressure on their profitability during daylight hours, the government’s Energy Security Board has warned.
How Europe aims to book a seat on Australia’s hydrogen express
Europe’s bid to stake a claim rivalling that of Japan and Korea over Australia’s huge potential in green hydrogen – the energy source that could power the 21st century – is gathering steam, as state governments step up their overtures to potential European partners and customers.
‘Strip out export costs’: Gas buyers escalate pricing debate
East coast manufacturers are mounting a campaign to change the gas pricing benchmark quoted by the competition watchdog to exclude export costs as they battle for a price marker that could help them secure lower tariffs.
Next three years will be huge for big wind and solar projects in Australia
The next three years will be huge for utility renewables in Australia. Given the timeframes for financing, constructing and commissioning new plants, we expect all currently committed capacity to be fully online by the June 2024 quarter.
Scott Morrison walking a clever highwire on climate change
Scott Morrison is tilling the political soil for a climate change pivot that will see him take a 2050 net-zero target to next year’s election.
Snowy CEO blasts ‘flawed’ NSW energy plan
Snowy Hydro boss Paul Broad has slammed the NSW energy infrastructure plan as “fundamentally flawed”, saying it risks building in extra costs for consumers, but has backed the federal government in pushing for a large new gas-fired power plant in the Hunter Valley.
AEMC fast-tracks new rules for identifying electricity system risks
The Australian Energy Market Commission will fast-track an assessment of proposed new energy market rules that aim to identify emerging risks to electricity security risks requested by Australia’s energy ministers.
What is the role of gas in a green economy?
The Tomago aluminium smelter outside Newcastle received a special visitor in September. Prime Minister Scott Morrison wanted to outline how he would use affordable and reliable energy to supercharge Australia’s post-COVID economic recovery. As the single biggest user of energy in the country, the Tomago smelter was an ideal backdrop.
‘Super-spike’ to fire up LNG producers
The eye-watering surge in liquefied natural gas prices over the past few weeks is expected to fire up revenue for gas exporters but only a small part of that is expected to show in the December quarter reports.
Investors place Australian bets on compulsory emissions reductions
Companies are buying up Australian carbon credits at an increasing rate even though they're not required to offset their emissions under local laws, in what experts say is a bet on future international regulations.
Vic power unit outages leave market unfazed
Sudden outages at two coal power plants in Victoria over the weekend did little to rattle the electricity market in the normally critical mid-summer period in a sign of how rapidly the state's power grid is transforming.
Pace of change requires a united approach to energy policy
There is no more potent evidence of the ongoing transformation of Australia’s energy supply than today’s assessment of the health of the national electricity market.
Renewables ‘can bust congestion’
The federal government’s energy security adviser has suggested renewable energy generators be offered incentives to build projects in particular zones across Australia, in a bid to drive investor confidence and deliver long-term benefits to consumers.
National energy ‘anarchy’ must be solved
The Australian Energy Market Operator has had to intervene 250 times in the past financial year to either turn off grid-destabilising renewable power or turn on gas-fired peak demand plants.
Runaway LNG price sends warning to gas buyers
An unprecedented surge in prices for LNG in Asia is ringing alarm bells among industrial energy users on the east coast amid forecasts that domestic gas prices could be driven back up into double figures, despite lacklustre demand.
Power industry backs national approach to reforms
Electricity suppliers have thrown their weight behind a push by the country's top energy policy adviser for a national approach to spurring on-demand power generation amid worries of a splintering between states that could further delay new projects.
Victoria sets new energy efficiency targets to cut energy use by 7 pct by 2025
The Victorian government has announced new energy efficiency targets to improve the energy efficiency of households and businesses, that are expected to reduce energy use and costs and cut greenhouse gas emissions.
Australian Industry Group backs domestic gas reservation policy
Arguments that a domestic gas reservation system on the east coast would lead to the collapse of oil and gas investment are “absurd”, according to the Australian Industry Group.
First giant turbine finally installed at Victoria’s Mortlake South wind farm
The first of 35 wind turbines has been completed at Acciona Energy’s 157.5MW Mortlake South wind farm in Victoria’s Western District, putting the project on track to be completed in the first half of 2021.