From The Australian:
Australia is facing an energy “trilemma”, and urgently needs to implement a clear policy on reducing carbon emissions or the nation will fall well short of its Paris climate change targets.
According to the ABC, the preliminary independent report into the country’s electricity market says Australia is not on track to meet its Paris climate change commitments of reducing emissions by between 26 and 28 per cent by 2030, notes that investment in the sector has flatlined due to a lack of government direction, and is critical of the Coalition’s Direct Action policy.
The interim report, which will be released today at the Council of Australian Governments meeting in Canberra, was headed by Australia’s chief scientist Alan Finkel. It says the three priorities for the electricity market are making sure there is a stable and reliable electricity market, reducing emissions and keeping electricity are prices down.
From the AFR:
The most effective way of reducing carbon emissions without compromising the stability of the electricity grid would cost just 40 per cent of expanding the Renewable Energy Target, a secret analysis by energy regulators has found.
Extensive modelling by the Australian Energy Market Commission and the Australian Energy Market Operator, obtained by The Australian Financial Review, tested three scenarios and found the average cost of abatement was $30.4 per tonne for an emissions intensity scheme, $34.2 per tonne for regulated closure and $75.7 per tonne for an extended RET.
The modelling found the emissions intensity scheme would also provide the most stability for the National Electricity Market and be cheapest for consumers.
But of course if you use your brain you’re exorcised from the government, back to The Australian:
Josh Frydenberg’s ministerial colleagues are blaming him for derailing the government’s energy price campaign against Labor and embarrassing Malcolm Turnbull by contravening a cabinet decision to keep the climate policy review “low key”.
Senior cabinet ministers are disappointed and angry that the Coalition’s developing campaign against power price rises as a result of Labor’s renewable energy targets and coal-fired power station closures has become a climate change negative for the Prime Minister.
In a nervous, messy end to the parliamentary year, the ministry is showing signs of division and conflict amid continuing speculation that the long hospitalisation of Defence Minister Marise Payne could force a ministerial reshuffle.
Some are demanding “action” be taken against Mr Frydenberg, who is on a trip to Antarctica, for “headline-hunting” after Mr Turnbull declined to say on radio yesterday that the minister had been “carpeted” for the political shemozzle.
What can one say?