Port Augusta locals are celebrating today following Premier Jay Weatherill and the South Australian Government’s commitment to a back a solar thermal plant with storage in Port Augusta that will create new jobs after a five-year community campaign.
Lawyers from Environmental Justice Australia today filed proceedings in the Federal Court on behalf of shareholders Guy and Kim Abrahams against the Commonwealth Bank of Australia for failing to adequately disclose climate change risk in the bank’s 2016 annual report.
Responding to the construction of a new 622 km-long Northern Gas Pipeline owned by private business Jemena, Bruce Robertson, Gas/LNG Australasia analyst for the Institute for Energy Economics and Financial Analysis (IEEFA) said:
“Another privately owned pipeline in Australia will only fuel the gas price crisis, not lesson it as the majority of such pipelines are not subject to any pricing regulation and are hideously profitable.
New analysis from the Institute of Energy Economics and Financial Analysis (IEEFA) shows that the Hume Coal project in the Southern Highlands of New South Wales will find it hard to compete with higher-quality coking coal mines in the region.
Commenting on the increase in electricity prices by up to 20% on July 1, Bruce Robertson, Gas/LNG Australasia analyst for the Institute for Energy Economics and Financial Analysis said: “Australians need answers for why gas prices have fallen globally in recent years while here they have risen to levels above the north Asian market, the most expensive market for gas.
16 June 2017: Planned moves by the Queensland Government on solar, battery storage and feed-in tariffs (FiT) will limit battery uptake and yet again tamper with the growth of this vital industry,according to Solar Citizens.
The proposal indicates an intention to restrict solar owners who are part of the Solar Bonus Scheme from installing batteries. If solar owners do choose to install a battery they will lose their premium feed-in tariff.
“This move puts solar owners between a rock and a hard place if they want to add storage to their solar system,” said Shani Tager, Senior Solar Campaigner, Solar Citizens.
Commenting on reports that Energy Minister Piyush Goyal said India would be forced to keep importing coal, including from the proposed Carmichael mine in Queensland, Tim Buckley, Director of Energy Finance Studies Australasia at IEEFA said:
Some Indian power plants may have been designed to run on foreign coal, but they can no longer afford to do so. This can be seen by the economics of Adani Power’s 4.6GW Mundra import coal-fired power plant and Tata Power’s 4.0GW Mundra plant, both of which are no longer competitive.
The Paris Agreement calls for countries to adopt measures which, collectively, will hold global warming well below 2° and limit this to 1.5°C. The Finkel Review has specifically dealt with the question of the Australian electricity sector transformation and emissions within the context of the Paris Agreement.