Markets

The Northern Territory has announced a one-off $2 million program energy efficiency and sustainability funding pool with grants now open to local government councils for a range of projects, including energy storage and renewable energy systems.

In response to the energy sector’s transition from coal to renewables and distributed energy resources, Western Australia’s Labor government says it has started drafting a strategy to deliver a cleaner and more resilient energy supply for decades to come. Coming off the back of the strategy launch, WA’s environment watchdog has announced new and expanding mining and oil and gas projects would face much tougher scrutiny around their emissions. The WA government has moved to distance itself from the proposed emissions rules.

The electric carmaker has signed 12-month credit agreements with three of China’s ‘Big Four’ lenders as well as the development bank for Shanghai as it aims to get its lower-priced Model 3s rolling off the production line by the end of the year.

17 liable entities have failed to meet more or equal to 10% of their renewable energy target obligations, including major electricity retailers – Alinta, Lumo Energy, Simply Energy and EnergyAustralia. This has pushed the surrender rate to a record shortfall of 13.9% of total liability. Tristan Edis, Director Analysis and Advisory at Green Energy Markets, explains why retailers decide to carry obligations forward, and how the precipitous fall in the LGC value reflects on customer electricity bills and merchant projects.

Up to 1000 landlords and their tenants have the chance to team up and cut power bills and emissions under a trial scheme in Bundaberg, Townsville and Gladstone. To participate in the $4 million program, both property owners and tenants need to be on board, as installing a PV system would entail a rent increase only to be offset by power bill savings.

According to new figures released by SolarPower Europe, last year saw 1.4 GW more new solar generation capacity than trade body had expected. Lower demand in China was compensated for by stronger developments in emerging markets.

Under the new planning mechanism adopted by the Victorian government, permits will be required for the power lines that connect new large-scale wind and solar generators to the grid. The public will be involved in the process of deciding power line routes.

While it managed to gain past financial backing from the state government despite uncertainty surrounding its landmark wave energy project, the troubled WA-based renewable energy developer has suffered another blow last week. Trading of Carnegie shares has been suspended from the Australian Securities Exchange (ASX).

According to the 2018 data from the Clean Energy Regulator, the LGCs surrender shortfall stood at 13.9% of total liability as 17 entities failed to meet more or equal to 10% of their renewable energy target obligations, including major electricity retailers – Alinta, Lumo Energy, Simply Energy and EnergyAustralia.

From 1 July this year, the single minimum price Victoria’s solar households will receive for the power they export to the grid will increase by two cents per kilowatt hour. However, under the time-varying tariff introduced last year, the peak rate tariff has been slashed by half.