Energy markets

Frydenberg: Adani 'needs to stand on its own two feet'

Two days after Glencore complained about government subsidies to support new coal mines, it appears common sense is finally prevailing on the government about funding support for the Adani mega coal mine.

Can CCS drag itself through the Valley of Death?

Advocates of carbon capture and storage may have assured themselves of its viability by convincing themselves it needs to happens. But just because something apparently should happen, doesn’t mean that it will and time is running out.

Hunt warns power companies: RET 'will not be reduced ever again'

If there were any doubts about whether Turnbull’s rise had improved the outlook for renewable energy investors, Environment Minister Greg Hunt erased them in a speech given yesterday.

ANZ to limit lending to clean coal or just slightly less dirty coal?

ANZ's plan to restrict lending to clean coal projects makes it sound like the bank is taking action to combat emissions, when in fact it is hardly doing anything at all.

Energy storage's edge over gas

Energy storage could have a competitive advantage over gas turbines in meeting peak demand. While both can provide peak capacity, storage can gain extra revenue by taking advantage of smaller price differences that occur on a more frequent basis. It means storage may already be cheaper than gas in meeting peak demand.

‘Five-year deadline for clean coal’

IEA says coal industry has five years to prove ‘clean coal’ or face demand constraints.

Coal and emissions stall as renewables rise

The latest CEDEX electricity report now incorporates data on solar generation, which alongside hydro manages a rise in generation as coal stalled. This brought a halt to what had been a steady rise in emissions since the carbon price was axed.

Major US utility declares batteries spell doom for gas turbines

NextEra CEO says by 2020 batteries could replace gas peakers, invests $100m in energy storage.

India's Paris Pledge: 40% Renewables by 2030; 33-35% reduction in emissions intensity

India's pledge for the forthcoming climate conference in Paris reinforces a set of plans to massively upscale investment in renewable energy. Meanwhile its coal generators have suffered record low utilisation of 58.4% last July. It spells bad news for Australian coal exports.

The astounding plummeting cost of utility-solar

Lawrence Berkeley chart illustrates plummeting 70% drop in contract prices that now average $50 per megawatt-hour, driven not only by large drops in the capital costs of projects but also improved capacity factors.

AEMO takes over management of WA grid

Western Power and WA IMO to relinquish control of managing power supplies on main grid to national body.

Bank of England warning suggests need to upgrade carbon risk disclosure

The risk faced by carbon intensive assets and those that finance them has been highlighted by the Bank of England, yet we lack the necessary disclosure to thoroughly assess the extent of this risk and possible threats to financial stability from high carbon stranded assets.

Glencore's bet on coal that went horribly wrong

When Glencore took over Xstrata in the biggest mining merger ever, its CEO said of the acquisition: 'To really screw this up, the coal price has got to really tank'. Unlucky for him that's precisely what it did and Glencore's share price has plummeted by 80% since the merger.

Are the Minerals Council deluded, or do they think we’re stupid?

You've got to give the Minerals Council credit for persistence in the face of insurmountable facts against them with their decision to stick with their 'Coal is Amazing' PR campaign. Pity just one comment from the CEO and a single chart destroy their argument.

Coal's malaise reflected in US coal mines hitting decade low

The number of new and reactivated US coal mines that began production in 2013 fell to the lowest level in at least the past 10 years. It was easily overwhelmed by coal mine closures and mothballing.

AGL commits to climate disclosure

Electricity giant joins international coalition backing emissions transparency, carbon pricing.

OECD identifies US$200b in fossil fuel subsidies

Catalogues nearly 800 ways countries subsidise fossil fuels hurting budgets and undermining efforts to contain climate change.

ANZ downgrades coking coal and iron ore prices

by AAP
Says Chinese steel production reached its peak last year instead of prior forecast expecting peak in 2020.

Turnbull’s ministerial shift suggests climate change is afoot

It appears Greg Hunt now has responsibility for the Clean Energy Finance Corporation and the Australian Renewable Energy Agency. It likely signals that Turnbull will quietly dump attempts to abolish the agencies and the Government’s ideological crusade against renewable energy.

Networks NSW argues regulator ruling makes privatisation ‘not viable’

Tells Competition Tribunal that regulator ruling provides 'little or no prospect of a return on investment for some years'.