The Australian Energy Market Operator (AEMO) has warned that the country’s mainland states could experience electricity shortages as early as 2027 and called for urgent investments in the sector. In the latest national electricity market update (pdf), the AEMO revealed that while Australia had sufficient electricity generation capacity in the next couple of years, the…
Mainland Australia Could Face Electricity Shortages by 2027: Energy Market Operator
Decarbonising Australia’s Heavy Industries: A 30-year Project That Costs $625 Billion
Six hundred and twenty-five billion dollars (US$ 432 billion) is the hefty price tag for an ambitious plan to decarbonise Australia’s heavy industries in the next 30 years. Climate Change and Energy Minister Chris Bowen has launched a report (pdf) that outlines the roadmap to reduce the Australia’s industry emissions by 92 percent as the…
Australian Greens Open to Striking Deal With Labor on New Carbon Credit, Climate Change Laws
February 18, 2023
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Adam BandtAustraliaAustralian GreensChris Bowenclimate changeclimate safeguard mechanismTed O'BrienWorld
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The left-wing Australian Greens say they will soften their demands for a proposed fossil fuel ban to shake hands with the centre-left Labor government to pass its carbon credit reforms in an effort to tackle climate change. The so-called “Safeguard Mechanism Reforms (Crediting) Amendment bill,” which the Labor government is looking to pass through the…
Australia to Host Key Naval Exercise for First Time
February 18, 2023
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anthony albaneseAustraliaAustralia-China RelationsAustralia-IndiaAustralian economyChris Bowenforeign affairsWorld
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Australia will host a key upcoming international naval exercise for the first time as the government hails the strength of its relationship with India. Prime Minister Anthony Albanese revealed the defence operation as Climate Change and Energy Minister Chris Bowen stressed the need for greater regional security in clean energy supply chains. For the past…
Labor and Greens at Crossroads Over Environment Safeguard Mechanism
The Australian Greens’ attempt to compel the Labor federal government to stop new coal or gas projects has put the two political parties at crossroads. Labor is currently in negotiations with the Greens to drive the Safeguard Mechanism legislation through the Senate after the Liberals and the Nationals said they would oppose it, leaving the…
Woodside Energy Denies Withholding Gas Supply Amid Complaints From Consumer Groups and Politicians
Australian leading oil and gas producer Woodside has said the company is not withholding gas supply from the market amid accusations from consumer groups and politicians. In an interview with ABC radio, Woodside executive vice president Mark Abbottsford dismissed the idea that his company is holding back supply from the market. “We don’t have any available…
Australian Government Says Energy Bills Will Drop Despite Sharp Price Rises from Retailers
The Australian Labor government has said consumers would see energy bills eventually decrease as its gas and coal price caps take effect. This is despite reports indicating that many households will face steep price hikes in February. As gas companies and energy experts are speaking up about the negative impact of the $12 (US$8.27) per…
Australia’s Top Polluters Will Get $600 Million to Reduce Emissions by 5 Percent Every Year
January 10, 2023
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AustraliaBusiness & Marketscarbon creditsChris Boweneconomyemission targetsenergyInternationalnet zeroWorld
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Australia’s biggest polluters will be required to reduce their net emissions by almost 35 percent by 2030 under the federal government’s new safeguard mechanism reforms. Minister for Climate Change and Energy Chris Bowen said the reforms will support the country’s biggest emitters to remain competitive in a global economy while they work to reduce emissions….
‘Well-Designed’: Review Defends Australia’s Carbon Offset Scheme
January 9, 2023
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AustraliaBusiness & MarketsChris Bowenclimate changeeconomic policiesenergyInternationalnet zeroWorld
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Australia’s carbon credit trading scheme, oft-accused of harbouring businesses attempting to circumvent environmental obligations, has been given the tick of approval by an independent review. A six-month review led by scientist Ian Chubb, as well as three other leading scientists, said the scheme had been working effectively after 11 years of operation. Carbon trading puts…
Australian Taxpayers to Fund $450 Million Compensation Bill to Queensland Power Plant
Australian taxpayers will be footing a bill of up to $450 million (US$300 million) to compensate for the potential losses incurred by a power station due to the Labor government’s energy price relief policy. Mining giant Rio Tinto, the major shareholder of the Gladstone Power Station, will receive the lump sum to offset the impact…
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