Category Archives: Energy

Labor ramps up pressure on gas industry as energy prices rise but stops short of price caps

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Unions accuse resource minister Madeline King of signing ‘dud deal’ with multinational gas companies

Labor is ratcheting up pressure on the gas industry as it contemplates a workable policy mechanism to lower prices.

The energy minister, Chris Bowen, on Tuesday night ruled out intervening in the market with price caps after the treasurer, Jim Chalmers, confirmed the government was revisiting the problem of gas prices given soaring energy costs are driving domestic inflation and punching a hole in household budgets.

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Power giants to face windfall tax after all as Liz Truss delivers U-turn

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Prime minister accused of ‘another screeching U-turn’ having previously rejected calls to impose levy

Renewable power companies will have their revenues capped in England and Wales, after the government bowed to pressure to clamp down on runaway profits.

The announcement late on Tuesday night provoked immediate accusations that Downing Street had performed “another screeching U-turn” – having previously rejected calls to impose a windfall tax on power giants.

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Kwasi Kwarteng’s secret meetings with Saudi oil firms revealed

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Exclusive: Meetings while in Saudi Arabia undisclosed due to ‘administrative oversight’, says business department

The chancellor, Kwasi Kwarteng, held undisclosed meetings with senior executives of Saudi Arabian firms when he was the business secretary, documents acquired by the Guardian show.

The meetings occurred in January, when Kwarteng visited the kingdom for a two-day trip under his previous ministerial role.

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Man shot dead by police in Brisbane – as it happened

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Queensland police say officers had been called to Edmonstone Street in South Brisbane around 3pm. This blog is now closed

Treasurer says surging electricity costs will make inflation ‘hang around longer’

We brought you the grim news on the blog yesterday that the head of Alinta energy has predicated a 35% increase to retail electricity bills next year, as energy providers juggle phasing out fossil fuels alongside investment in renewables.

I think one of the reasons this inflation will hang around longer than we want it to is because there are expectations around these electricity price rises being more problematic for longer.

You’ve said the government would put the economy above politics, can you really say that’s what you doing if you leave the stage-three tax cuts in place as they are?

I can say that, and I think what people will see in the budget in two weeks’ time is some difficult decisions in difficult times.

Our job is to make sure that our budgets are perfectly calibrated to the economic conditions as we confront them.

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Extinction Rebellion protesters glue hands to prized Picasso – as it happened

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Dutton on his answer to filling the gap should stage-three tax cuts go through

Dutton:

If you look at even post lockdowns on a month by month basis, you can see months where we’ve gone back into surplus, so the settings we have in government, our instinct as Liberals, as a Coalition when it comes to budget management are vindicated.

When you look at where we are with a 50-year low unemployment, when you look at the strength of the underlying indicators here in Australia, that is a very significant contrast to where the UK or US budget is, and this government inherited a very strong position after nine years of Coalition management.

David, we went to the last election with a promise and I’m not in the business of breaking promises. The prime minister can contemplate it. He looked the Australian public in the eye and it seems he wasn’t so genuine and that he was prepared to make that statement.

I want to see the prime minister honour his commitment and not lie to the Australian people.

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Dominic Perrottet urges people in NSW to stay out of flood water – as it happened

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Trough tracking over NSW towards the coast is bringing intense rainfall and the risk of flash flooding, Bureau of Meteorology says. This blog is now closed

Storey warned despite blue skies in some areas this morning, heavy rain will set in from the afternoon through to tomorrow.

That heavy rain coming on top of saturated soils and catchments and dams that are already full and overflowing [we] can really see that flooding risk escalate really, really quickly. Not only riverine flooding risk, which we’re monitoring closely, but that flash flooding risk, in particular. A lot of roads may see flash flooding affecting them very, very quickly and catching people unawares.

There is definitely a flood fatigue situation across many, many parts of the state. And in particular in the west and the south of the state as well, who have been experiencing major flooding now for what feels like the best part of a year. Many areas in the west and south are still subject to major flooding as we speak, and with the heavy rains continuing in those areas in the coming days, that’s going to exacerbate that risk.

Unfortunately, the bureau’s forecasting an above-average rainfall storm and flood season, so we’re probably gonna see many more events like this over the coming months.

With the expected heavy rainfall impacting the Hunter, Greater Sydney, and Illawarra over the next sort of 24 hours, so our key focus is on that flash flooding risk in those areas.

If you are in those affected areas or travelling through those affected areas, monitor those conditions and never drive through floodwaters. A lot of roads are already flooded in many parts of the state and will be flooded in the coming 24 hours. So, make those smart decisions for yourselves and your families. And the smartest decision you can make is to never drive through those floodwaters.

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Albanese meets Solomons PM – as it happened

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Anthony Albanese meets with Solomons Islands PM Manasseh Sogavare, who reiterates ‘no foreign military bases’ pledge. This blog is now closed

Skill shortages ‘an indictment on the failure to plan’: skills minister

The National Skills Commission’s annual update of the skills priority list is out today, showing the number of occupations facing skills shortages have almost doubled in past year.

Well, I wouldn’t say exactly that. I would say, though, it is very high that we have so many occupations where there are significant shortages.

I mean, the fact that it almost doubled in a year speaks to a labour market that is crying out for skills. But also, it is an indictment on the failure to plan, invest in education and training to have the skills our labour market, our economy and our employers need and our workforce need so that they can find good jobs.

We do need to make sure, 1) the investment in education and training is in the right places so that we supply the skills needed for our economy now and into the future. And, of course, 2) we need to have a much faster way of delivering on the skilled migration pathways for industries that are crying out for skills. And whether they be nurses or tech worker, baggage handlers. Wherever you look across the economy, there are shortages and it is a very significant priority of this government.

Conditions haven’t changed that significantly.

The government went to the last election saying again and again they would honour the legislated tax cuts.

In the time since we’ve seen in Australia interest rate rises yes ... but we’ve seen an Australian economy that continues to perform very strongly.

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Banks raise interest rates in response to RBA – as it happened

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Australian dollar drops and shares bounce higher on reserve bank’s dovish move. This blog is now closed

Sexual violence rife on dating apps

Dating apps need to better protect their users after a study revealed high rates of sexual violence, stalking, assault and unwanted sharing of explicit images, AAP reports.

This is highly concerning given the significant and potentially long-term impacts associated with these victimisation experiences.

These impacts include poorer health and wellbeing, including overall life satisfaction, social isolation and lower self-esteem, as well as increased risk of re-victimisation.

Considering the long- and short-term implications for victim-survivors after experiencing these harmful behaviours, there is an obvious need to develop mechanisms for protecting users.

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Co-founder of collapsed energy firm Bulb hopes to expand battery business

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Loss-making venture led by Amit Gudka eyes continent as countries move towards using renewable power

The co-founder of collapsed energy supplier Bulb is planning to expand his loss-making battery storage venture into Europe as the energy crisis escalates.

Amit Gudka hopes to develop Field Energy, the business he set up after leaving Bulb in February 2021, on the continent as countries attempt to switch toward renewable power.

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Labor’s deal with gas exporters will lock in high prices, consumer groups say

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Agreement raises concerns transition to lower emissions energy sector will be harder and more expensive

Energy user groups have condemned the Albanese government’s agreement with gas exporters saying it will lock in high prices that will force businesses to close, hurt households and hobble the transition of the electricity sector off fossil fuels.

The resource minister, Madeleine King, on Thursday said the government had signed a new agreement with the big gas exporters from eastern Australia that would ensure there was sufficient supplies to meet local demand.

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AGL will close Victoria’s coal-fired power station Loy Yang A a decade early

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Energy company accelerates its exit from coal, although timeline for closure of Bayswater in the NSW Hunter Valley remains unchanged

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AGL Energy will shut down Australia’s biggest single carbon polluting power plant a decade earlier than planned, changing the closure date of its coal-fired Loy Yang A power station in Victoria from 2045 to 2035.

The company, Australia’s biggest electricity generator and polluter, is accelerating its exit from coal, according to plan released to the stock exchange on Thursday. . The strategy details its transition to renewable energy after opposition from its largest shareholder, billionaire Mike Cannon-Brookes, forced it in May to ditch plans to demerge.

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Nord Stream gas leaks may be biggest ever, with warning of ‘large climate risk’

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‘Colossal amount’ of leaked methane, twice initial estimates, is equivalent to third of Denmark’s annual CO2 emissions or 1.3m cars

Scientists fear methane erupting from the burst Nord Stream pipelines into the Baltic Sea could be one of the worst natural gas leaks ever and pose significant climate risks.

Neither of the two breached Nord Stream pipelines, which run between Russia and Germany, was operational, but both contained natural gas. This mostly consists of methane – a greenhouse gas that is the biggest cause of climate heating after carbon dioxide.

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Will Labour’s energy plans work?

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While there are questions about the pace of Labour’s proposals, criticism in rightwing newspapers is bizarrely wide of the mark

Labour’s ambitious plan for zero-carbon power by 2030 raises legitimate questions – which we’ll come to shortly – but the commentary in rightwing newspapers is bizarrely wide of the mark.

Perhaps the strangest was a Daily Telegraph editorial that claimed Labour’s plan “would make the country more dependent on imported gas, not less”. As should be obvious, the opposite is true.

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Queensland government pledges to end reliance on coal-fired power by 2035

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Annastacia Palaszczuk says state is facing a ‘climate emergency’ while unveiling $62bn energy plan

Queensland will end its reliance on coal-fired power by 2035 under a 10-year $62bn energy plan to create a clean “super-grid” of solar, wind and hydroelectric power.

In a historic announcement for a state known for its coal mining, the premier, Annastacia Palaszczuk, said Queensland was facing a “climate emergency” and a bold vision was needed.

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Germany delays exit from nuclear power to offset energy shortfall

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Two nuclear plants’ lives extended as country copes with loss of Russian gas and shortage of French electricity

Germany’s planned exit from nuclear power by the end of this year has been officially delayed in order to shore up energy supplies during an expected shortfall this winter, the economic minister, Robert Habeck, announced on Tuesday.

The decision follows a shortage in supplies of electricity coming from France due to the fact that more than half of its nuclear power stations are offline, Habeck told journalists in Berlin.

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Great British Energy: what is it, what would it do and how would it be funded?

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The details behind Keir Starmer’s proposed publicly owned energy company when Labour take power

The key pledge of Keir Starmer’s Labour conference speech was the proposed launch of Great British Energy, a publicly owned energy company to invest in clean UK power as part of the party’s commitment to “fight the Tories on economic growth”. But how does it work, and is it the same as renationalising energy?

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Australia urged to adopt 75% emissions reduction target by 2035 if it is to reach net zero

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Investor Group on Climate Change says clear price on carbon needed and removal of all fossil fuel subsidies by 2050

Australia needs an ambitious 75% emissions reduction target by 2035, a clear price on carbon, and to remove all fossil fuel subsidies by 2025 in order to unlock the investment needed to reach net zero by 2050, according to a new report.

The Investor Group on Climate Change has released its policy priorities report for 2022-2025, outlining key areas for reform that would align Australia’s emissions target to the Paris goal of limiting warming to 1.5C and ensure the country was able to manage an “orderly” retreat from coal.

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Keir Starmer unveils green growth plan to counter Liz Truss’s tax cuts

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Labour pledges a revolution in green energy to ‘boost jobs and slash emissions’

Keir Starmer will pledge to deliver a new era of economic growth and permanently lower energy bills by turning the UK into an independent green “superpower” before 2030, through a massive expansion of wind and solar energy.

Announcing details of the plan exclusively to the Observer, the Labour leader says he will double the amount of onshore wind, triple solar and more than quadruple offshore wind power, “re-industrialising” the country to create a zero carbon, self-sufficient electricity system, by the end of this decade.

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Australia has a golden opportunity to expand solar energy manufacturing

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World’s desire to wean off over-reliance on China could be a boon for local producers, according to the Australian PV Institute

Australia has a golden opportunity to expand its solar energy manufacturing capacity as the industry booms and nations scramble to cut their over-dependence on China, a report by the Australian Australian PV Institute Institute says.

The country is installing 4GW of solar photovoltaic (PV) capacity a year already but meeting just 3% of that from a local supplier, Adelaide’s Tindo Solar. That annual installation tally, though, is predicted to triple by 2050, particularly if Australia becomes a major supplier of hydrogen produced by renewable energy for export.

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Fears for Indigenous rock art as construction begins on WA’s Burrup peninsula

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Ex-chair of Murujuga Aboriginal Corporation says hydrogen plant, gas facility and proposed urea plant are all threats to cultural sites

Traditional custodians fighting to protect ancient rock art on the Burrup peninsula have raised concerns that construction work has begun at multiple sites despite the federal government ordering a cultural heritage assessment of the area.

The peninsula in northern Western Australia is home to industrial operations including of the country’s largest gas producer Woodside, the Yara Pilbara ammonia plant and a proposed urea plant by Indian company Perdaman.

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