The electricity market must now comply with a national objective to cut greenhouse emissions following a meeting of energy ministers in Canberra. | By Nick Toscano and Mike Foley energy
Energy regulators will be forced to focus on reducing emissions alongside their existing goals of keeping power affordable and reliable after a rewriting of the rules governing the electricity market agreed to by state and federal energy minsters.
Following the announcement, electricity generators signalled support for the energy ministers’ “overall intent” but said they opposed the new environmental clause. Renewables developers have insisted the lack of an environmental objective has delayed Australia’s clean energy transition and blocked the market settings needed to reward investment in green power projects.
The ministers also signed an agreement to co-operate on the building program for huge new power line links that are needed to connect new renewable energy projects across state borders, and to develop new rules to empower the market operator to access private company information and better forecast potential energy supply shortfalls.
A coalition of major renewable energy investors agreed, saying the inclusion of the emissions objective was long-overdue. Victorian Energy Minister Lily D’Ambrosio said the Andrews government had pushed for climate change to be included in the market’s objectives since 2016, “but were blocked by federal Liberal National governments”.Queensland’s Energy Minister Mick de Brenni said Friday’s agreement was a “step change” after years of inaction.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Canberra paying to connect Queensland wind farms to grid in bid to lower power pricesFederal Climate Change Minister Chris Bowen says the deal will increase renewable supplies to the east coast and put 'downward pressure' on energy prices.
Read more »
Energy ministers to meet todayFederal and state ministers will meet today to sign off a national strategy to slash emissions and accelerate a plan for renewable energy.
Read more »
Energy ministers’ major reform to protect gas and electricity supplyEnergy ministers from across the country have agreed to landmark reform to manage expected major shortfalls and to fast track the transition of the electricity grid away from coal.
Read more »
Climate and energy ministers have a ‘chalk and cheese’ portfolioSky News host Chris Kenny says Australia’s “energy delusion” has overtaken the nation and the politicians in Canberra. 'We had the nation’s energy ministers meeting in Canberra today, and many of them handle energy and environment, or like the federal minister, energy and climate,” he said. Mr Kenny said Australia’s energy ministers had a duty of “making sure our energy supplies are as reliable and affordable as possible,” but this was contravened by their duties as climate ministers. “As climate ministers, these same people are charged with reducing the emissions from energy, which of course is what has made our electricity less reliable and more expensive,” he said. “The climate and energy ministers are like fire and water ministers, chalk and cheese ministers, ministers for brakes and accelerators.”
Read more »
‘Deeply sorry’: Minister apologises for system failing Defence and veteransVeterans Affairs Minister Matt Keogh says it’s clear something is not working in his department and Defence given the serious issues facing many people transitioning out of active service.
Read more »
Santos touts second Queensland pipeline as east-coast gas crunch fixAustralian energy giant Santos has bought a company planning to build a new pipeline to send gas from Queensland to the nation’s southern states.
Read more »