Energy Secretary Rick Perry says the US needs to subsidize nuclear and coal power plants to keep the grid stable. But this policy would raise energy costs and could drive consumers off-grid instead.
The new policy will put the onus on electricity retailers to cut emissions while guaranteeing reliability. And while the scheme isn’t perfect, it offers a rare opportunity for bipartisanship.
By signing an agreement with the big three producers, the government has effectively made the east coast gas shortage evaporate. But there’s no guarantee the price pain will go away too.
The energy market operator has released a report on the state of Australia’s electricity system. It couldn’t be blunter if it tried: the market has failed.
Energy certainty is unattainable, because of disruptive change and multiple agendas. But we can deliver affordable, reliable, clean energy services. Governments will have to adapt.
Western Australia has huge amounts of sunshine and wind, yet only 7% of its energy comes from renewables. What’s more, most households in the poorest suburbs are still locked out of the solar panel boom.
Australia has enough gas reserves to supply the next 25 years’ demand. Federal pressure to lift state bans on onshore gas development is pointless, risky – and won’t bring prices down.
To implement an alternative that still effectively puts a price on emissions might – apart from its policy advantages – be seen by Malcolm Turnbull as righting the old wrong done to him by his party.
Australia’s energy policy has lost its way over the past couple of decades, which is unfortunate because the challenges – to move to a low-carbon economy without high prices – have never been tougher.
OPEC has been declared dead in recent months as the group of oil-exporters has been unable to agree on a plan to stabilize the market. But was it really ever alive in the first place?
By 2030 renewable energy sources such as solar and wind will cost a similar amount to fossils fuels such as coal and gas, thanks to falling technology costs