OPINION: This week’s emergency meeting of federal and state energy ministers will be big on the rhetoric of co-operation but short on practical answers for soaring energy prices and inadequate supplies.
instead? Back in 2019, for example, the Coalition’s shortlist included six renewable pumped-hydro projects, five gas projects and one coal upgrade project. These projects have been abandoned or are yet to proceed.Infrastructure Partners, but co-founder David Scaysbrook says now that the project “got buried in bureaucracy”.
Scaysbrook is sounding more optimistic about renewables investment in Australia under a new government, describing it as the most hopeful he has been in a decade.“Why we have been so despondent is the lack of the details in the rules and the regulations to create the right conditions for long-term investment,” he said, calling for urgent reform of the structure of the “dysfunctional” national electricity market.
is as “blunt as a baseball”. This was the policy brainchild of the then Turnbull government. Such a measure couldn’t even begin until January 1 and only after extensive consultations that could not in any case overcome the reputational risk of a government forcing companies to break contracts.invoked by the Australian Energy Market Operator for the first time last week – along with intense communication between LNG producers and Resources Minister Madeleine King.
That should help at the margin, but the problems go far deeper – with solutions disputed. AGL’s woes are more symptom than cause of this syndrome.
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