Policy

High EU carbon prices: does ambition exceed reality?

The carbon price in Europe is soaring, currently approaching AUD$100 a tonne. That’s while the European economy is forging out of its COVID-19 recession with the EU’s economy predicted to grow by around 4.8 per cent in 2021 and more of the same in 2022. Pricing emissions doesn’t appear to be holding the European economy …

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The Big Switch: from energy-only to capacity

In the world of electricity market nerds the Ford vs Holden debate of the past decade has been about how you pay for the electricity generated. This has come down to two different models: energy-only market design and capacity markets. Energy-only markets are for the purists: they pay generators only for the electricity they dispatch …

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When did energy go in the Federal budget?

Federal Budget’s aren’t supposed to include energy. Energy policy is the responsibility of the states, while Canberra has jurisdiction for setting climate policy to deliver Australia’s commitments to international deals, like the Kyoto Protocol and the Paris Agreement. So when energy gets $1.8 billion in a Federal budget, that’s political. It means the Government wants …

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The cutting edge: Victoria’s emissions reduction strategy

With great fanfare the Victorian government has launched its Climate Change Strategy, a year later than required by legislation (the government granted itself a sick-note as a result of the COVID-19 pandemic last year). The strategy confirmed Victoria’s interim targets for 2025 (28-33 per cent below 2005 levels) and 2030 (45-50 per cent) on the …

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A deal sealed?

The Morrison government has announced another of its signature energy deal packages with a Coalition-run state, this time South Australia. Following on from last year’s NSW deal, the package is a similar mix of funding announcements for electricity infrastructure, hydrogen pilots and aspirational gas production targets. The so-called Energy and Emissions Reduction Agreement is worth …

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