Markets & Policy

A new report from Net Zero Momentum Tracker has found that the Australian superannuation sector, which is expected to hold a majority of ASX-listed equity by 2040, is accelerating its divestment from risky greenhouse gas emitting fossil-fuels. The finding represents another disconnect between the Morrison Government’s gas fetish and investor diffidence with dying industries.

The tech giant has eliminated its entire carbon legacy and is moving toward running entirely on renewables, 24/7. More importantly, it’s looking to create pathways for other renewable purchasers to follow in its wake.

Rising gas prices, increased energy security and economic recovery at all costs pose risks to Asia’s power sector gas demand growth.

The Morrison Government has announced its plans for a gas-led recovery including an ultimatum to the private sector that if it doesn’t prop up the gas sector the Government itself would step in to build a new gas-fired power plant in the Hunter Valley and an expanded Australia Gas Hub in QLD. For many experts the announcement reads more like a suicide note than a recovery strategy.

New analysis from Rystad Energy and Cornwall Insights Australia demonstrate how the return of spring has once again emphasised the growing supremacy of wind and solar in Australia’s energy makeup. The stats don’t lie, wind and solar are sweeping coal and gas out the door.

Hobsons Bay City Council is accelerating its Large Scale Solar Installation Program with a Virtual Power Plant to enable the sharing of solar generated energy around the Council’s assets. Going forward, Council wants to see its VPP expanded to include the vast array of members in its community.

Australia and Germany have brought their national hydrogen strategies together after signing a new agreement for a joint feasibility study into green hydrogen production and trade. The agreement was welcomed around the country as auspicious of Australia’s potential as a global green hydrogen superpower.

Battery energy storage developers might consider the findings of new research by Cornwall Insight Australia, that batteries located in South Australia last year earned the most from supplying Frequency Control Ancillary Services to the NEM, and that New South Wales also offers fertile ground.

Energy industry incumbents the Australian Energy Council and Energy Networks Australia hired UK firm Cambridge Economic Policy Associates to review the Australian Energy Market Operator’s “governance framework”. In principle, a review of the AEMO’s governance given its widening role in Australia’s energy future is valuable, but this report is about as useful as a toothpick to a pelican.

The Queensland Government has opened the registrations of interest period for its three planned and well-funded Renewable Energy Zones. The Sunshine State is calling on the renewables sector to come forward and lead Queensland’s renewable revolution.