Development of unconventional gas in the NT risks connecting the NT to the chaos in wider Australian gas markets. As the nation becomes a major gas exporter with record production there have been no winners.
Climate & Energy Program
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Welcome to the first issue of the The Audit - Electricity Update, the companion publication to the National Energy Emissions Audit Report.
Each issue of Electricity Update will also contain a more detailed discussion of one or two particular topics relating to the electricity system which have assumed particular importance in the period prior to publication. For this inaugural publication the topic is, of course, the Report of the Finkel Review.
The Australia Institute has launched the National Energy Emissions Audit (The Audit), written by respected energy analyst and ANU Honorary Associate Professor, Dr Hugh Saddler, which tracks Australia's emissions of greenhouse gases from the combustion of fossil fuels.
The National Energy Emissions Audit will be published on a quarterly basis, in September, December, March and June each year. In each intermediate month the NEEA Electricity Update will report on changes to emissions from electricity generation in the National Electricity Market (NEM).
It has taken ten years of cheap politics and bad policy decisions to deliver Australians high energy prices, high greenhouse gas emissions and low levels of reliability. Rather than listen to scientists, engineers or economists Australia's energy policy has been shaped by lobbyists, political strategists and shock jocks. It’s hard to see how things went wrong.
[This article was first published by the Australian Financial Review - here]
Report calls for Tasmania to become energy self-reliant and an exporter of renewable energy.
A new report from Hobart-based think tank The Australia Institute Tasmania identifies an opportunity for Tasmania to take advantage of its unique energy assets which could deliver cheaper local electricity.
The report finds that Tasmania’s link to the National Electricity Market (NEM) is subjecting the state to higher power prices and increasing uncertainty.
--See PDF below for full report--
The Australia Institute has outlined the key challenges for the Finkel Review.
The objective of the Finkel Review is to provide a blueprint for national policy, legislative, governance and rule changes required to maintain the security, reliability, affordability and sustainability of the national electricity market.
The objective of a policy instrument such as a LET (Low Emission Target) or a CET (Clean Energy Target) should be to help Australia to reduce greenhouse gas emissions by accelerating the transition away from conventional coal fired electricity.
Following pressure from Australian civil society organisations, Australia’s export credit agency, Efic, has shelved plans to lend Australian taxpayers’ money to the Boikarabelo coal project in Limpopo Province, South Africa.
While Efic has not ruled out future funding of this project and other overseas coal mines, Senate Estimates were told last week that Efic does not have ‘sufficient material to conduct due diligence’ and is not currently conducting any work on the Boikarabelo project.
There is a depressing honesty about Donald Trump's announcement that the United States will withdraw from the Paris climate agreement. It stands in stark contrast to the hypocrisy of Malcolm Turnbull's big talk on climate change, which is accompanied by a $1 billion subsidy for the enormous new Adani coal mine. At least Trump is doing what he said he would do.
[This article was first published by The Canberra Times - here]
A well designed Low Emissions Target (LET) could be the basis for the needed integration of climate and energy policy in Australia according to Canberra-based policy think tank The Australia Institute.
“The key will be to ensure any scheme accelerates the transition away from coal and does not lock in support for fossil fuel generators," Executive Director of The Australia Institute, Ben Oquist said.
“The value in the Climate Change Authority proposing evidence-based solutions is again on display.
The Northern Australia Infrastructure Facility (NAIF) is a $5 billion government fund for concessional financing to build infrastructure in northern Qld, NT and WA. The default financing mechanism is a loan. Adani has applied for a concessional loan of nearly $1 billion from the NAIF for a rail line so that it can export coal from its proposed Carmichael coal mine.
Minister for Resources and Northern Australia Matthew Canavan and Deputy Prime Minister Barnaby Joyce have strongly supported the Adani loan proposal, while at the same time insisting the NAIF is independent. Minister Canavan has said