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.
Extending Liddell power plant’s life among worst options: regulator
Keeping AGL's Liddell coal-fired plant going beyond its planned closure date was among the lowest-ranked options to avoid any shortfall in power, an electricity market regulator has found.
Carbon capture could be six times more costly than wind and storage, analysis shows
The construction of new fossil fuel power stations paired with carbon capture and storage technologies could substantially increase the cost of power, with new analysis finding the technology up to six times more expensive than wind and solar, even when combined with energy storage.
Calm down and power on
The advice from Energy Security Board chair Kerry Schott on day two of The Australian Financial Review’s Energy and Climate Summit was for everyone to calm down and get on with it. As Dr Schott and others told our Summit, the transformation of Australia’s electricity system is accelerating and unstoppable. The challenge is to update the National Electricity Market’s complex rules to retain the benefits of a functioning national energy market – with clear and consistent investment signals – amid political pressure to return to more heavy-handed state-based regimes.
Australia’s carbon twist: Taxing consumers who refuse to burn fossil fuels
How good is Australia, and its series of “firsts” on climate and energy! Do you remember how it first it introduced a widely admired carbon price that was both world-leading in its scope, and highly effective? And then it trashed it, much to the joy of conservatives and climate deniers.
Vic to host AGL’s next big battery
AGL Energy has flagged its second large battery project within 10 days, advising of plans to install a system of up to 200 megawatts at the site of its Loy Yang coal power station in Victoria to support the growth of weather-dependent renewables.
NSW power plan could spark legal fight, coal miner Trevor St Baker warns
Power baron Trevor St Baker says investors would be considering legal action against the NSW government over its controversial $32bn energy plan which has sparked a spending freeze and raised concern over the future of the state’s coal plants.
The quest for ‘enough megawatts when we need them’
"Resource adequacy" rapidly became one of the hot-button phrases of the Australian Financial Review Energy & Climate Summit.
Manufacturers, clean energy investors back NSW push for cleaner energy
The most energy-intensive manufacturer in Australia says NSW's bold renewables plan is desperately needed to deliver cleaner, cheaper and more reliable electricity.
Jemena eyes partners for $5b-plus northern gas push
Pipeline owner Jemena has unveiled plans for a potential $5 billion-plus expansion and extension of its grid in Australia's north to bring gas from the remote Northern Territory to the east coast and is on the lookout for partners to join the ambitious project.
La Niña continues; predicted to last through first quarter 2021
La Niña continues in the tropical Pacific. International climate models suggest it is likely to continue at least through February 2021.
Hydrogen set to flow
Hydrogen produced using renewable energy will start to flow into 700 Adelaide homes within weeks, as South Australia’s ambitious plan to become a “green hydrogen” hub takes another step forward.
‘Perverse signals’: NSW clean power push clouds grid planning, prices
Experts warn the NSW government's plan to underwrite the cost of new renewable energy projects could erode national efforts to improve the electrical grid and leave consumers bearing the risk of project price blowouts.
SA wholesale power prices plunge, AEMO report shows
The price of generating electricity in South Australia has nearly halved in a year, according to official energy market data published on Thursday.
NSW to get a new big battery as renewable power surges
A battery worth $62 million is being installed in western Sydney as governments work with industry to help stabilise the electricity grid as the share of renewable energy grows.
Refiners to compete for diesel storage grants
A $200 million competitive grants program for diesel storage will be launched in the March quarter next year as the government works to boost security of supply in fuels and support struggling local refiners, federal Energy Minister Angus Taylor has confirmed.
Flagship NSW-SA power cable hits debt hurdle
One of the country's flagship electricity interconnector projects intended to help keep the lights on amid soaring wind and solar generation has run into trouble, as backer TransGrid advises it cannot be financed under existing market rules.
Government flags sensible backflip on gas
A new Morrison government discussion paper on gas reservation has flagged a sensible backflip on further meddling in the east coast gas industry. Domestic manufacturers have blamed Queensland’s massive LNG export expansion for diverting gas offshore and driving up the price for local buyers.
$1 billion pumped hydro scheme would open up NSW grid, backers say
The Berejiklian government has given accelerated approval status to a billion-dollar pumped hydro project that will unlock twice as much renewable energy investment and reduce grid congestion.
Renewable energy to replace coal in WA’s biggest power grid as solar hollows market, report predicts
More than half of Western Australia's remaining coal-fired electricity capacity could be phased out within five years, according to a landmark report which charts the extraordinary rise of renewable energy.
Old king coal has surrendered to solar, says global power report
Solar power has been declared "the new king of electricity" by the International Energy Agency in its annual energy outlook report, which finds it is already cheaper than power generated by new coal and gas developments in most countries and is providing, "some of the lowest-cost electricity ever seen".
$28m battery factory proposed for Tomago
Energy Renaissance will build a $28 million battery manufacturing facility on the NSW central coast, paving the way for the company to become Australia’s first lithium-ion battery manufacturer.
Higher power prices a risk under government gas plan, expert warns
Energy experts warn electricity prices will rise and private investment in energy projects will fall if the federal government delivers its plan to support private gas projects.
Green leader Adam Bandt says coal and gas should be phased out by 2030
Greens leader Adam Bandt says Australia could move to a zero emission economy with full employment at the end of the decade at a cost of increasing net debt by $25 billion a year.
Alcoa Portland aluminium smelter invites bids for electricity supply
Australia’s biggest electricity suppliers have been approached to bid for a power contract securing the future of Alcoa’s under-threat Portland aluminium smelter in Victoria as concern grows the facility could be forced to shut its doors next year.
Black coal generation hits new low, as wind and solar reshape Australian grid
The re-shaping of Australia’s main grid continues apace, with black coal generation setting a new record low in the National Electricity Market, and the combined output of wind and solar matching the combined output of brown coal, black coal and gas on Saturday.
Audrey Zibelman quits AEMO for Alphabet’s X
The Australian Energy Market Operator has lost its chief executive, with Audrey Zibelman quitting the organisation for a leadership role at X, the “moonshot” factory at Google’s parent company Alphabet.
Matt Kean: Environment Minister goes against PM in dismissing gas as part of energy future
NSW Environment and Energy Minister Matt Kean last night claimed gas was a “hugely expensive” way of generating electricity and does not have a long-term future — despite PM Scott Morrison’s new push to invest in gas.
Rules to protect electricity supply as renewables undercut coal
Electricity retailers face a government-imposed reliability trigger being made permanent and a new payment mechanism introduced to ensure enough power supplies are in place before coal plants shut down, amid fears investors may back away from committing to fund new capacity.
Plan to bring Australian electricity prices down
The Prime Minister will unveil a new plan to secure Australia’s supply of liquid natural gas and bring down electricity prices when he visits Newcastle on Tuesday.
PM’s pledge to fast track SA-NSW interconnector to deliver cheaper energy
Prime Minister Scott Morrison has pledged to fast track a $250 million project that will connect SA and NSW power grids, as part of the country’s COVID-19 recovery plan.
Closing Liddell power plant to have only short-term effects
Closing Liddell power station would lift NSW wholesale power prices by more than a quarter but the effects would decline as more capacity entered the market, according to a leaked report.
Tensions mount with electricity market
Tensions have erupted between the Morrison government and some of the nation’s biggest energy players, after the threat of Commonwealth intervention in the electricity market sparked fresh investor concern over rising sovereign risk amid accusations from Canberra that big power companies had championed high prices.
AGL buys Amaysim energy for $115m
Second-tier electricity retailers face a fight to survive amid a tough regulatory clampdown and bad debts from the COVID-19 pandemic, Amaysim said after selling its energy unit to power giant AGL Energy for $115m.
North West Shelf to Moomba gas pipeline could help end supply debate: Mick McCormack
Mick McCormack, the former boss of APA Group, has called for the Morrison government to back a $6bn transcontinental gas pipeline to ease a projected shortfall and high prices for users on the east coast.
Rooftop solar: W.A. sets new record low for grid demand, two other states set winter lows
The West Australia grid has set a new record low for minimum demand as rooftop solar continues to increase its share of generation, and the government announces it is reshaping solar export tariffs to encourage storage, electric vehicles and west facing solar panels.
‘A shot in the arm:’ Victoria backs clean energy in bid to fuel COVID-19 recovery
Clean energy projects will receive a Victorian government funding boost in the hope of driving the state's battered economy out of the coronavirus downturn and avoiding a slump in wind and solar investment.
Wholesale energy prices fall 46 per cent in the year to September
Almost a year since the Federal Government’s “big stick’” legislation was introduced, wholesale electricity prices have continued to fall.
Renewables take wind out of coal’s sales
Coal generation has fallen to its lowest level for at least 12 years, with the record uptake of wind and solar energy driving wholesale electricity prices to a five-year low.
Queensland warned it will fall short of 50 per cent renewable target
Green energy groups have cast doubt the Queensland government can meet its commitment to provide 50 per cent of the state’s energy from renewable energy sources in 10 years' time.
State blocks exports of onshore gas in quest for cheaper energy, but one project receives exemption
The WA government will block the export of gas to the eastern states and overseas from all future onshore gas projects, except one.
Renewables investors run scared
Investment in renewable energy projects collapsed to its lowest in more than three years in the June quarter and almost halved from earlier in the year as grid connection delays, transmission bottlenecks and unpredictable policy took a toll.
Gas producers baulk at price demands
There are good reasons why suppliers cannot offer long-term natural gas contracts at spot prices which have been temporarily depressed by a market surplus, Santos chief executive Kevin Gallagher says.
Coal power plants face early retirement in 20-year grid revamp
Australia’s coal power plants could face early retirement under a 20-year plan to reshape the electricity grid, as the market operator bets on a tripling in rooftop solar and major transmission investment, while emergency government intervention may be needed to avoid a looming gas shortfall.
Rooftop solar’s stunning surge to new records, as Australia installs reach 2.5 million
Australia’s rooftop solar market has defied the disruption caused by Covid-19, setting new installation records in the month of July, and pushing Australia past 2.5 million total rooftop solar installs.
EnergyAustralia jumps over hedge, and gets ready to step on the gas
EnergyAustralia, one of the big three energy “gentailers” in Australia, says its profits in the first half of 2020 fell around 20 per cent because of the fall in wholesale prices and the impact of Covid-19, but it is looking to invest up to 1,000MW of new gas fired generation as part of its efforts to support the transition to renewables.
Locals denied cheap gas in ‘broken market’: Incitec
Record low international gas prices aren’t on offer to major Australian industrial users in new contract negotiations with east coast gas producers, according to Incitec Pivot boss Jeanne Johns, putting jobs at risk and raising fresh threats to Australia’s recovery from the coronavirus.