Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
(Australian electricity) Networks push for renewable energy target to be dumped
http://reneweconomy.com.au/2016/networks-push-for-renewable-energy-target-to-be-dumped-33274[font face=Serif][font size=5]Networks push for renewable energy target to be dumped[/font]
By Giles Parkinson on 11 March 2016
[font size=3]The main lobby representing the major electricity networks in Australia, the Energy Networks Association, is calling for the renewable energy target to be dumped and replaced with a “low emissions target” that would include gas-fired generation.
The ENA, which represents state-owned networks in NSW, Queensland, WA, and Tasmania, along with privately owned networks in Victoria and South Australia, says it has commissioned modelling from consulting firm Jacobs that shows that residential electricity bills will be $234 a year lower if gas was included in a “low emissions target” that included gas as well as wind and solar and other renewables.
…
The ENA report comes as investment in large-scale renewable energy remains at a standstill, as major retailers still refuse to sign long-term off-take agreements. The only investment occurring is that driven by schemes such as the ACT’s reverse auction program and some state-based initiatives.
Analysis from UBS earlier this week showed that the retailers had little incentive to invest in large-scale renewable, despite the target, because more renewable energy would dampen earnings from their coal and gas-fired generators, and there was no penalty for failing to meet their targets. Instead, the so-called “penalty price” was passed on to consumers, with the revenue going to government.[/font][/font]
By Giles Parkinson on 11 March 2016
[font size=3]The main lobby representing the major electricity networks in Australia, the Energy Networks Association, is calling for the renewable energy target to be dumped and replaced with a “low emissions target” that would include gas-fired generation.
The ENA, which represents state-owned networks in NSW, Queensland, WA, and Tasmania, along with privately owned networks in Victoria and South Australia, says it has commissioned modelling from consulting firm Jacobs that shows that residential electricity bills will be $234 a year lower if gas was included in a “low emissions target” that included gas as well as wind and solar and other renewables.
…
The ENA report comes as investment in large-scale renewable energy remains at a standstill, as major retailers still refuse to sign long-term off-take agreements. The only investment occurring is that driven by schemes such as the ACT’s reverse auction program and some state-based initiatives.
Analysis from UBS earlier this week showed that the retailers had little incentive to invest in large-scale renewable, despite the target, because more renewable energy would dampen earnings from their coal and gas-fired generators, and there was no penalty for failing to meet their targets. Instead, the so-called “penalty price” was passed on to consumers, with the revenue going to government.[/font][/font]