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Australian Energy Ministers set to clash over ‘CoalKeeper’ within hours | ticker VIEWS

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State and Federal Energy Ministers in Australia are gearing up to meet on Friday 24 September to discuss the energy market

As the rest of the world moves away from coal, Australian energy ministers are preparing for a potentially fractious meeting this week, to discuss keeping coal-fired plants open. This is to ensure the country’s power system remains reliable during a transition to lower greenhouse gas emissions.

The proposal, known is known as the capacity market, will provide a strategic reserve for significant events in the National Electricity Market (NEM). The NEM accounts for more than 80pc of Australia’s total electricity demand, and coal-fired plants are its largest fuel source.

But the proposal has proved to be contentious, as some state ministers have announced that they will not support it.

The Federal Government has announced its #CoalKeeper program to support the coal industry. However, experts are urging the Government to consider the opportunities in other industries to transition away from coal.

Victorian Energy Minister Lily D’Ambrosio is urging the Government to incentivise sectors like renewable energy. D’ambrosio will meet with Angus Taylor on Friday to go head to head about the end of coal in Australia.

“Victoria won’t support Coal-Keeper payments”

“Vicotria remains committed to clean energy investment and jobs.”

Lily D’Ambrosio, Victorian Energy Minister

Who will prevail?

The Victorian Government has been criticised for opposing “Coal-Keeper” subsidies to extend the life of coal plants. A new “capacity mechanism” aims to offer financial incentives to encourage the construction of power sources and prevent the premature closure of coal generators.

Victoria’s stance on coal is setting up a clash at the national cabinet meeting of energy ministers. It will be D’ambrosio versus Taylor. Who will prevail?

This all comes after Victorian government provided secret financial backing in March to ensure EnergyAustralia’s Yallourn plant stays in the state’s power system until 2028.

The Victorian Government refuses to release further details on this, but D’ambrosio is standing strong on her views.

NSW Energy Minister Matt Kean, an outspoken critic of the Morrison government’s climate change ambition, has given his preliminary backing to the plan but did caution he was worried about the costs.

The capacity mechanism has been endorsed by the Australian Workers’ Union and the CFMEU.

Renewable energy companies and investors including the powerful Clean Energy Investor Group say the move will kill investment in new supplies and drive up costs for consumers by subsidising old coal plants.

“There’s been no leadership from a national level”

Lily D’Ambrosio, Victorian Energy Minister

“You can’t transition tomorrow, what you can do is have a proper plan.”

“Sending a clear message to the market this energy will no longer be there, invest in new technology, invest in replacement energy.”

Lily D’Ambrosio, Victorian Energy Minister

“This coal keeper program, this is a carbon tax- but it’s going to give money to the coal-fired power stations.”

Scott Hamilton, Ticker Climate co-host 

 

 

You can watch the full episode of ticker climate here

Holly is an anchor and reporter at Ticker. She's experienced in live reporting, and has previously covered the Covid-19 pandemic on-location. She's passionate about telling stories in business, climate and health.

Climate

When will Australia’s PM commit to net-zero?

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Australian Prime Minister Scott Morrison with US President Biden standing with coal

COP-26 climate summit is just days away, but Australia’s PM Scott Morrison is yet to cement the nation’s net-zero targets

A decision expected by the week’s end

Morrison says there are still a lot of things to work through and the impacts of the world’s response to climate change will inevitably have an impact on regional and rural Australians.

Morrison promises residents can trust his government to “do the right thing” and do what it needs to do to achieve the desired climate change response whilst also protecting jobs and people’s livelihoods.

The PM is committed to embracing new technologies to move towards a more sustainable economy, keeping industries forging ahead.

We spoke to Australian Senator Sarah Hanson-Young earlier today and asked what she expects the federal government’s net-zero plan will be.

Meanwhile, former Australian Prime Minister Malcolm Turnbull says the world is in a climate catastrophe and we need to act.

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Climate

Leaders convene for the ‘Global Race To Zero Summit’ | ticker VIEWS

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As the global climate conversation heats up, leader’s prepare to convene in a month of historical talks

On Ticker News this week, Holly Stearnes and Scott Hamilton spoke with the Chief Executive of the Smart Energy Council, John Grimes. We delve into the Global Race To Zero Summit on 20-21 October.

The virtual summit will host thirty climate action leaders from around the world, giving all global perspectives. 

Climate change conversation

Global warming and climate change has been an ongoing conversation for world leaders for decades. However, it’s not until now that the conversation has reached a boiling point.

The climate scientists have said there is no more time, no more political debates, serious action needs to be taken now.

In Australia, Former Prime Minister John Howard committed Australia to put a trading emissions trading scheme.

 ‘Stabilising atmospheric concentrations of greenhouse gases will be difficult, but not impossible. We do not have to sacrifice our economic prosperity to tackle the problem.”

Former Australian Prime Minister John Howard

“I will also be announcing a ‘cap and trade emissions trading system that will help Australia substantially lower our domestic greenhouse gas emissions at the lowest cost.” 

Former Australian Prime Minister John Howard

“Sadly, Australia and leaders around the world failed to heed these warnings. Global greenhouse emissions have continued to sky-rocket and we are now experiencing the existential threat of dangerous climate change.”

– Scott Hamilton, Ticker CLIMATE

However, as long as the climate debate has continued, there are always two sides to the argument. The things that are most damaging to our planet, also financially and economically support thousands of people and livelihoods.

Climate Wars

As the COP-26 climate event approaches at a rapid pace, Australian lawmakers are struggling to reach an agreement over net-zero targets. The Nationals have continued to withhold their support for a net-zero plan.

As the world transitions away from coal, Australia seems reluctant to consider a future without it. Country coal towns and the Australian economy rely heavily on the coal industry. However, it is crucial that Australia now paves its way in a new direction.

The coal industry gives thousands of Australians jobs, but when the rest of the world moves away from coal, Australia’s exporting opportunities will no longer be there.

That’s why it’s essential to create a plan, so people are not left in dead-end industries and we’re in line with the rest of the world in tackling climate change.

John Grimes is the Chief Executive of the Smart Energy Council, the independent, not-for-profit body for the Australian smart energy industry thinks the Morrison will be dragged “kicking and screaming” to committing to net-zero target by 2050 at the upcoming COP26 in Glasgow.

“That’s [net-zero by 2050] is the bare minimum.”

– John Grimes, CEO, Smart Energy Council

https://twitter.com/TurnbullMalcolm/status/1449216364242112516

Global Race To Zero Summit

This will be one of the biggest virtual climate events in 2021.

The Summit will explore the opportunities that emerge from taking action on climate change and provide a clear pathway forward for governments, citizens, and companies.

Taking place just 10 days before the G20 meeting in Rome, on 30-31 of October, and in the lead up to the critical COP26 meeting in Glasgow from 31 October–12 November, this event will be instrumental in influencing ambitious global action.

Insert video promo: Global Race to Zero Summit – We Demand Change

Register here for free: https://t.co/3X4J0UdMag

https://twitter.com/StarScientific_/status/1448517960096628739

https://twitter.com/SDHamiltonVIC/status/1449547035288358914

 

Watch the full episode here: https://tickeroriginals.co/2021/10/18/the-race-to-zero/

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Climate

Duke and Duchess of Cambridge attend first Earthshot Prize awards

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The Duke and Duchess of Cambridge were among a number of high-profile individuals who attended the very first Earth shot Prize awards ceremony

Started by Prince William, the idea behind the event is to celebrate those who are trying to save the planet from global warming.

There will be five winners in total, with each person receiving a grant of 1-million-pounds.

Other stars including Emma Watson, Emma Thompson and Mo Salah are handing out awards.

Meanwhile, celebrities were asked to refrain from flying from the event, and guests were asked to “consider the environment” when choosing an outfit.

The Earthshot prize is a nod to the “Moonshot” ambition of America, whereby John F Kennedy wanted to send a man to the moon within a decade.

Climate activist, Sir David Attenborough is also a council member for Earthshot and gave his remarks

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