The Clean Energy Investor Group (CEIG) acknowledges the importance of ensuring access to affordable energy for Australia’s economy, however CEIG asserts that there is substantial capital available from investors to invest in firmed renewables, given the right market signals.
Unfortunately, the Future Gas Strategy’s focus on gas as a crucial energy source until 2050 and beyond may divert attention and resources away from accelerating the transition to renewable energy alternatives.
Sense checking the need for new gas generation is imperative, considering the role of multiple technologies, including increased electrification and the uptake of renewable fuels like renewable hydrogen, in decarbonising the energy sector.
To support the transition away from emissions-intensive fuels, CEIG recommends decisions are made considering the value of emission reductions. This approach ensures that emissions reduction objectives are quantifiably integrated into decision-making processes, providing clarity and guidance in regulatory processes and decision-making.
“CEIG calls for a reevaluation of the Future Gas Strategy to ensure alignment with emissions reduction goals and market signals to unlock investment in renewable energy,” CEIG Interim CEO Marilyne Crestias said.
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