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Exxon Mobil Corporation Message Board

  • bluecheese4u bluecheese4u Jul 25, 2013 9:52 AM Flag

    #$%$ the utilities: wind and solar will be built anyway

    #$%$ the utilities: wind and solar will be built anyway

    By Giles Parkinson on 25 July 2013

    Yesterday’s main article about the frustrations and the barriers being put in front of Australia’s effort to meet its 20 per cent renewable energy target was followed this morning by yet another aggressive push by the major utilities to have the support mechanisms for large-scale wind and solar developments removed or diluted.

    The Australian Financial Review had as its front page lead, and several articles and commentaries inside, the story of how Origin Energy and Energy Australia, amongst others, had declared the renewable energy target to be both expensive and unachievable, particularly in light of the early move to a traded carbon price.

    The utilities did not make it clear how a one-year change in the traded carbon price can affect a target that was framed before a carbon price was even put in place, let alone suddenly make it that much more expensive. Nor did it occur to the editors of the national business daily that the primary purpose of this intensive lobbying may be to protect the revenues of the incumbent assets of the energy industry. That, at least, would have been worth a mention to insert some context. The industry has already admitted some $4 billion of revenues are at stake.

    But as the electricity incumbents continue to circle the wagons around their threatened business models, the renewable energy industry may be able to take comfort in some good news: Australia may be able to meet its 20 per cent renewable energy target by 2020, and go beyond that, simply because renewables will represent the cheapest option as the electricity industry looks for new generation and is forced to replace ageing and redundant capacity.

    Kobad Bhavnagri, the Australia head of Bloomberg New Energy Finance, told the Clean Energy Week conference on Wednesday that renewables could supply 46 per cent of Australia’s electricity by 2030, compared to around 12 per cent

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