You will recall that after the closing of Hazelwood Power Station at the end of March 2017 fears were held that the 2017-18 summer would see extensive blackouts. AEMO, the Australian Energy Market Operator, was tasked to assemble a strategic reserve to keep the lights on.
AEMO assembled a reserve of 1150 megawatts mainly “demand response” capacity with capital cost approaching zero, but the mechanism the agency had used called the Reliability and Reserve Trader or RERT, can’t be automatically rolled over for the summer of 2018-19. And perhaps it can’t be done at all, because the rule-maker, the Australian Energy Market Commission, has changed the rules governing the RERT so that the mechanism can only be used on 10 weeks notice in an emergency as a last resort, which is simply impractical.
Carolyn Flanagan was like any mum – all she wanted to do was to help her daughter with a loan to buy a business.
“I’d have signed anything for her, love,” she told counsel assisting the banking royal commission, Michael Hodge, QC. “If you can’t help your children, who can you help?”
That wasn’t exactly what Michael Hodge QC wanted to hear from the elderly lady who went guarantor for $165,000 for her daughter in 2010 to invest in a business that went bust. Westpac demanded her Sydney house with vacant possession, so they could get their money back. That was in 2014. Continue reading Saturday salon 26/5→
Chris Bowen’s has a copy of Paul Keating’s After words in his office, signed by PJK with the words “I write with faith and hope in your public life.” That is not a trivial endorsement, according to Peter Hartcher in Bowen seizes the chance to make history.
Last September I half-finished a post on this topic, with a paper by David Spratt and Ian Dunlop as the centre-piece. Their 28-page report on the state of climate science, action and politics entitled What lies beneath? The scientific understatement of climate risks is introduced as a post at Climate Code Red, but I suggest you go directly to the paper itself. Read any part of it, and I can promise you will be alarmed. Continue reading Climate clippings 223→
The ABC election team on Budget night suggested that the purpose of the 2018 budget was to generate talking points that the government could use in the forthcoming election campaign. It has been going on for a while. Turnbull ScoMo and all reckon they offer “jobs and growth” whereas Shorten is going to hit you up for $200 billion extra in taxes, and simply can’t be trusted to run anything.
Shorten says Labor is going to “bring the fair go back into the heart of the nation.”
Australia’s energy operator proposes ‘fast change’ scenario to cut emissions by 52 per cent by 2030
Greenhouse gas emissions from the electricity sector would be reduced at twice the rate proposed by the Turnbull government under a radical new plan outlined by the Australian Energy Market Operator.
The “fast change” model puts the public operator on a collision course with policymakers after AEMO outlined a potential cut of 52 per cent to all electricity emissions by 2030, double the rate required to meet our Paris climate change commitments.
The bit I’ve highlighted was wrong. AEMO charted a doable scenario double the rate specified by the Turnbull government, but it was derived from the ENA CSIRO Low Emissions Technology Roadmap, which looked at what would be required to meet the 2°C target under the Paris Agreement. Continue reading AEMO’s fast track electricity plan→
Andrew Tillett in the AFR reports that analysts do not think that Macron’s drive for an Australia-France-India “strategic axis” for the Indo-Pacific will amount to much in the long run. You can surge but it is harder to sustain. Realistically France is peripheral to what happens in the Pacific. Continue reading Saturday salon 5/5→