Tag Archives: National Energy Guarantee

‘Coalsheviks’ want to head renewable energy off at the pass

On Wednesday morning Ben Potter’s article in the AFR Coalition fiddles as renewables remake grid told business leaders and politicians what is actually happening before their eyes.

Over at the Oz the headline was:

      Abbott call: Pull out of Paris deal

    and

        NATS DEMAND THREE COAL POWER STATIONS

      So, what is going on? We’ll look at the Nats first, then Abbott, and finally, the real world. Things are coming to a crunch point which will determine how Malcolm Turnbull’s stewardship is seen by future generations. Continue reading ‘Coalsheviks’ want to head renewable energy off at the pass

      Australians speak: what does the government hear?

      In the Lowy Institute Poll 2018 (interactive version here) respondents were asked to rate 11 threats to Australia’s vital interests as (1) a critical threat, (2) an important but not critical threat, or (3) not an important threat at all. Here’s the result:

      At 58% climate change came third. However, a stubborn 11% thought climate change not a threat at all. Continue reading Australians speak: what does the government hear?

      NEG: the plan to do less than nothing

      I did not get my full post on the NEG (National Energy Guarantee) finished last night, so it will have to await the COAG meeting today.

      Commentators seem to think the NEG will get an amber light from the states. The main problem is that in terms of emissions reduction the NEG has been evaluated as worse than doing nothing by Reputex. To the world it will look like it is – Australia keeping up appearances while putting the mockers on renewable energy and giving coal the best chance ever to keep wrecking the planet. Continue reading NEG: the plan to do less than nothing

      Energy crisis? What energy crisis?

      About a month ago Meridian Australia’s CEO Ed McManus said that while the electricity market can turn on a dime, stability had returned to the market and the trend looks good. They had just concluded a swag of hydro, wind and solar power deals which will deliver cheaper electricity than the company could buy in the wholesale market. So their retail arm Powershop was offering a 5 per cent price cut to consumers.

        Electricity contracts for delivery in 2019 were trading at more than $92 per megawatt hour in Victoria and $108/MWh in South Australia a year ago, when SA and NSW had just suffered power shortages and the closure of Victoria’s Hazelwood power station loomed.

        Contracts for 2019 have since fallen to $82.90 in Victoria and $94.36 in SA, while contracts for delivery in Victoria in 2020 and 2021 are trading at $76/MWh and $69/MWh and contracts for 2020 and 2021 in SA are trading at $86/MWh and $85/MWh.

      Continue reading Energy crisis? What energy crisis?

      NEG will probably win

      According to Giles Parkinson at RenewEconomy, energy minister Josh Frydenberg has written to the Energy Security Board (ESB) to make sure they stay focussed on the task at hand. He has asked them “to restrict its modelling to only one specified short term target, and then assume emissions would “flatline” after that.”

      Parkinson says:

        The intention of the order is clear: If the ESB were to factor in a long term target that matched the over-riding goal of the Paris climate treaty (keeping global warming well below 2°C), it would no doubt produce a document for the rapid decarbonisation of Australia’s grid.

      Obviously we can’t have any of that nonsense to distract us! Continue reading NEG will probably win

      Turnbull’s New Energy Guarantee – ‘shambolic policy’ or ‘innovative and elegant’?

      Bruce Mountain in an opinion piece in the AFR (pay-walled) said the NEG was “shambolic” policy which “snatches defeat from the jaws of victory”. Bloomberg New Energy Finance, according to Laura Tingle (also pay-walled) says “the concept is innovative and elegant, and could well prove ingenious”. Continue reading Turnbull’s New Energy Guarantee – ‘shambolic policy’ or ‘innovative and elegant’?

      Turnbull does energy policy on the back of an envelope

      For over a month now I’ve been trying to do two posts – one on climate as an existential threat, and another on whether 1.5ºC is at all still possible. I keep being diverted.

      Malcolm Turnbull has been dithering for months over whether the government would accept the Finkel review recommendation for a Clean Energy Target. For some time now, it has been clear that the climate contrarians in his own party, and the Nationals starting with Barnaby Joyce, would not accept anything that is negative about coal. In the end they asked the brand new Security Energy Commission for advice, in terms that were severely constrained. They got their advice, faithful to the brief in an eight-page letter, and announced a “breakthrough” in the form of a National Energy Guarantee to deliver affordable, reliable electricity with industry and stakeholder consultations to follow, plus the necessary modelling to be undertaken only after the states have agreed. Therein lies the problem. Continue reading Turnbull does energy policy on the back of an envelope