The Audit - July electricity update
The latest electricity update from the National Energy Emissions Audit has been released today by The Australia Institute’s Climate & Energy Program.
The Audit shows current policies will reduce National Electricity Market (NEM) emissions to 22% below 2005 levels in 2019-20, effectively meaning the electricity sector has an emissions reduction target of only 4% to 2030.
Key findings include:
- To June 2018, the NEM has already reduced emissions by 12% of 2005 levels
- On current policy settings, the 26% target will be achieved in 2021-22
- The emissions reduction mechanism proposed for the National Energy Guarantee will make little or no contribution to reducing emissions in the NEM