Renewables funding at a document low when we have to hit new highs
Peter Hannam
For all of the discuss of the decarbonising the electrical energy sector, the very fact is funding in new initiatives is withering, if the most recent stats from the Clear Power Council are any information.
Within the September quarter, only one large-scale mission reached monetary closure (ie closing dedication from an organization) with simply 127MW of capability. (Against this, AGL yesterday mentioned it will shut its remaining three items at its Torrens Island “B” fuel plant in June 2026, with their 600MW.)
Kane Thornton, the CEC’s CEO, mentioned the group’s newest report made “abundantly clear that Australia’s clear vitality transition has been throttled by years of coverage uncertainty.”
The funding drought on large photo voltaic and wind jogged my memory of this report we filed in April, that highlighted the slowdown in funding:
It was notable on the time as a result of the Morrison authorities had been speaking up Australia’s clear vitality sector, with the best penetration of rooftop photo voltaic on this planet, and so forth and so forth.
Because the article famous, a spokesperson for then vitality minister Angus Taylor (now the shadow treasurer), dismissed the CEC’s issues saying it had been forecasting a collapse in renewable vitality funding for years.
The spokesperson mentioned:
Australians proceed to show the Clear Power Council improper. The actual fact is, there’s been greater than $40bn of funding in renewables in Australia since 2017.
Effectively, the $40bn determine may need been proper nevertheless it’s slowed to a trickle in recent times. The principle constructive is the leap in new storage initiatives, with 14 new initiatives price greater than $2bn dedicated within the final 12 months.
The rolling 12-month common is at a document 1984MWh of large-scale storage initiatives, or nearly a four-fold rise from a 12 months earlier.
Additionally on the constructive facet of the ledger are guarantees by the Labor governments in Victoria and Queensland promising large expansions of their renewable era and storage in current months. (We’ll discover out on Saturday whether or not the Andrews authorities shall be returned. The whisper is that Labor expects to retain majority rule. Let’s see…)
Thornton, in the meantime, reckons funding confidence is returning, “aided by clearer and stronger coverage instructions throughout the nation”.
However the development must speed up, and getting extra initiatives via the varied state planning techniques sooner could be a technique, he says.
Federal vitality minister Chris Bowen has been reported as saying we have to add 22,000 500w photo voltaic panels a day and 407MW wind generators every month as much as 2030 to satisfy the decarbonising targets.
Given the tempo of recent initiatives being signed up, these large numbers are presumably getting bigger every day.
Key occasions
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Whereas checking in on Scott Morrison’s Fb to see his assertion relating to the Bell inquiry I seen he’d posted a selfie with Jordan Peterson final evening, saying he’d loved assembly up and “having a chat” with him.
“He makes a variety of sense,” Morrison added.
Victoria Covid replace
Victoria’s chief well being officer Brett Sutton (bear in mind him?!) has launched his weekly Covid-19 report.
It says that:
There have been 22,281 Covid-19 instances reported in Victoria this week, a rise of 9.5 per cent on the earlier week. The typical day by day variety of new instances this week was 3,183, up from 2,914 final week.
The variety of energetic instances in Victoria on Friday was 19,460, up from 18,150 the identical time final week.
The seven-day rolling common of sufferers with Covid in Victorian hospitals is 430, a 22.2 per cent improve when in comparison with the identical time final week. There are at the moment 483 Covid sufferers in Victorian hospitals, together with 19 Covid sufferers in intensive care and 0 cleared instances in intensive care. There are 2 Covid sufferers on a ventilator. The seven-day rolling common of sufferers in intensive care in Victorian hospitals is 15.
Previously three months, 3,299 Covid sufferers had been hospitalised in Victoria. 40.5 per cent of these sufferers had not acquired their third vaccine dose. 959 (29 per cent) had been unvaccinated, 27 had acquired one dose, 351 had two doses, 787 had acquired three doses and 1,175 had acquired 4 doses.
Of Victorians aged 50 to 64 years, 79.9 per cent have had their third dose and 30.2 per cent have had their really useful fourth dose. Of these aged over 65, 90.8 per cent have had their third dose and 67.3 per cent have had their fourth dose. 70.2 per cent of individuals aged 16 and over in Victoria have had three doses of Covid vaccine.
A complete of 68 Covid associated deaths had been reported to the division prior to now week. A mean of 10 deaths had been reported every day prior to now week. There was a 30.5 per cent lower within the variety of Covid associated deaths prior to now month when in comparison with the earlier month.
Previously three months, there have been 644 Covid-related deaths in Victoria. Of these deaths, 46.3 per cent had not acquired their third Covid vaccine dose. 252 (39.1 per cent) had been unvaccinated, 3 had acquired one dose, 43 had two doses, 116 had acquired three doses and 230 had acquired 4 doses.
The overall variety of Covid-related deaths in Victoria for the reason that pandemic started is 5,993. The variety of Covid-related deaths recorded in Victoria thus far this 12 months is 4,385.
Unconfirmed experiences alleged suspect in homicide of Toyah Cordingley arrested
A number of media retailers are reporting that the alleged killer of Queensland lady Toyah Cordingley has been arrested in India after 4 years on the run.
Jordyn Beazley
Client teams warn delaying monetary reform invoice will ‘cement exploitative lending’
Delaying monetary sector reform laws might see extra low-income earners fall prey to payday loans service that shopper teams say have exploited plenty of Australians, together with many First Nations folks residing in distant communities.
The invoice was delayed after assistant treasurer Stephen Jones took all monetary service payments off parliament’s agenda for Friday. The choice was made after banks and tremendous funds argued they need to have been consulted on a plan to introduce into deliberate monetary accountability laws fines of as much as $1.1m for finance executives who failed to stop systemic misconduct.
Various shopper teams – together with Alternative and the Indigenous Client Help Community – despatched a letter to senators at this time urging the federal government to nonetheless debate and move the Finance Sector Reform invoice earlier than parliament finishes for this 12 months.
The letter mentioned the invoice would enact very important reforms to payday lending which had been first proposed nearly six years in the past however have been repeatedly delayed. It mentioned reforms had been much more pressing now that the price of residing disaster is pushing folks in monetary hardship to take out payday loans which have exorbitant rates of interest and don’t undertake credit score checks. Gerard Brody, chief government officer of Client Motion Legislation Centre, mentioned:
We’re most involved that delaying the invoice will cement exploitative lending within the market and can proceed to focus on folks throughout Christmas and New Yr whereas persons are doing it robust.
Scott Morrison’s response to Bell inquiry makes clear he’s not contemplating resigning
The assertion from Morrison pushes again on the suggestion he didn’t absolutely cooperate with the inquiry.
He additionally largely repeats the feelings expressed throughout his earlier press convention concerning the so-called secret ministries, saying “I observe that the criticisms of my choices have been made after the occasion and with the good thing about this angle”.
Scott Morrison responds to Bell inquiry
The previous prime minister, Scott Morrison, has posted an announcement on Fb relating to the Bell inquiry.
It reads:
STATEMENT REGARDING BELL INQUIRY
I observe the report of the Bell Inquiry, welcome the suggestions and thank the Hon. Virginia Bell and her workplace for conducting The Inquiry.
I used to be happy to help The Inquiry with six separate and complete responses to issues raised with me and my authorized representatives by Hon. Virginia Bell. This engagement was executed through correspondence as was the follow with different respondents to The Inquiry and accepted by Hon. Virginia Bell.
In relation to the broader issues that had been topic of The Inquiry I observe that always as Prime Minister I sought to train my tasks in a way that may greatest advance and shield Australia’s nationwide pursuits and the welfare of the Australian folks. This was executed throughout a time of great problem not seen for the reason that Second World Struggle and the Nice Despair.
I’m happy that via these efforts and so many others that Australia was capable of emerge from this era of great disaster in a safer and extra affluent place than nearly some other nation on this planet. This was our goal.
I observe the criticisms fabricated from my resolution to be authorised to manage a sequence of departments the place Ministers had particular powers not topic to the oversight of Cupboard. These choices had been taken throughout an especially difficult interval, the place there was a necessity for appreciable urgency. I observe that the criticisms of my choices have been made after the occasion and with the good thing about this angle.
I additionally observe that as Prime Minister my consciousness of points relating to nationwide safety and the nationwide curiosity was broader than that recognized to particular person Ministers and positively to the Inquiry. This limits the power for third events to attract definitive conclusions on such issues.
I additionally observe the next info that stay unchanged from the Inquiry:
– the authorities established had been legitimate and weren’t discovered to be illegal;
– the authorities had been established as a dormant redundancy and the place enlivened related Ministers and officers had been engaged;
– there isn’t a constant or effectively understood course of for publication of the institution of authorities to manage departments within the Authorities Gazette or in any other case;
– no instruction was given by me as Prime Minister or my workplace to not publish these preparations within the Authorities Gazette;
– no powers had been exercised beneath these authorities, besides within the case of the PEP11 resolution, or misused;
– Ministers exercised their portfolio authorities absolutely, with my utmost confidence and belief, with out intervention;
– as Prime Minister I didn’t ‘Act’ as Minister or have interaction in any ‘Co-Minister’ preparations, besides within the particular case of the PEP11 resolution and never in any other case for that division.
On the PEP11 matter, this was executed lawfully from first ideas. My intent to take action was additionally suggested to the related Minister upfront.
In relation to my communication with my ministerial colleagues on these issues, I’ve addressed these points privately with my colleagues on the time these points had been reported a number of months in the past.
I’m happy that this matter has now concluded and I can proceed, as I’ve for the reason that final election, to serve the folks of Cook dinner as their federal member of parliament.
Australia’s efficiency via the pandemic was one of many strongest within the developed world.
Daniel Hurst
Rethink on military’s infantry combating automobiles mission
The Albanese authorities is rethinking plans to spend as much as $27bn on infantry combating automobiles, confirming that it’s going to delay a call on the mission till after the defence strategic assessment.
There has lengthy been hypothesis that the federal government is scaling again the mission, amid questions on whether or not the military wants as much as 450 such automobiles.
It had been reported that the federal government could wait till the report on the defence strategic assessment, headed by the previous defence minister Stephen Smith and the previous Australian defence pressure chief Angus Houston, is handed down early subsequent 12 months.
At present the defence business minister, Pat Conroy, confirmed that the federal government would think about the assessment’s findings earlier than deciding on the tender for the infantry combating automobiles (a mission generally known as LAND 400 Section 3).
Conroy mentioned it was “accountable” to correctly weigh up a procurement price between $18bn and $27bn. He thanked the German and South Korean bidders – Rheinmetall and Hanwha – and different corporations concerned within the tender course of “for his or her understanding and professionalism”.
He mentioned:
The federal government stays centered on Australia’s future defence functionality. We don’t need to pre-empt the findings of the assessment, which is very vital given the quickly altering strategic circumstances dealing with our nation.
The mission entails the acquisition of as much as 450 infantry combating automobiles to interchange the present M113 armoured personnel carriers, which the military says “have been in service for the reason that mid Nineteen Sixties and are now not capable of counter the present and rising threats introduced in our working surroundings”.
Joe Hinchliffe
Extra on courtroom ruling on Clive Palmer coalmine
One other replace on our earlier publish a few Queensland courtroom discovering that the plans of an organization owned by Clive Palmer to dig Australia’s largest thermal coalmine would infringe upon the human rights of future generations.
The Queensland land courtroom president, Fleur Kingham, discovered the 1.58 gigatonnes of carbon emissions that may be produced would pose an “unacceptable” danger of local weather disaster that “had not been absolutely accounted for”.
Kingham described the potential $2.5bn financial advantages of the mine as “appreciable”. Nevertheless, she additionally mentioned they had been “unsure in a market with declining demand for thermal coal”. She mentioned:
There’s a actual prospect the mine won’t be viable all through its projected life and that not all of the financial advantages shall be realised.
Additional, the prices of local weather change to folks in Queensland, to which combustion of coal from the mission will contribute, haven’t been absolutely accounted for. Nor have the environmental prices of the act of mining on Bimblebox.
Kingham rejected Waratah’s argument that its mine would make no distinction to whole emissions, as a result of it will “displace different decrease high quality coal”.
Caitlin Cassidy
Australia’s fourth Covid wave prone to peak earlier than Christmas as hospitalisations and infections start to gradual
Circumstances have continued to extend nationwide for the sixth consecutive week, nonetheless at a slower fee. This means a plateau in instances would arrive by the primary week of December, consistent with pandemic modelling, if it has not already.
New South Wales recorded 31,531 new Covid instances within the weekly reporting interval, a 13% improve from final week’s 27,869.
Victoria recorded 22,281 new instances within the newest weekly reporting interval, a 9% improve on the earlier week’s 20,398.
The complete story is right here:
Scott Morrison sought recommendation on a sixth ministry and didn’t comply with be interviewed by inquiry
Scott Morrison’s secret appointment to further ministries was “apt to undermine public confidence in authorities” and was “corrosive of belief in authorities”, Virginia Bell has discovered.
In a report, launched on Friday, the previous excessive courtroom justice mentioned Morrison’s appointments to the well being and finance ministries had been “pointless” whereas three different appointments “had little if any connection to the pandemic”.
Bell discovered these had been an “exorbitant” method to overrule his ministers within the occasion of disagreement about their use of their powers to cancel visas, approve overseas funding and sources initiatives – a call she labelled “weird”.
Learn the complete story from Paul Karp and Amy Remeikis right here:
We posted just a few updates earlier about some discontent amongst mayors in western Sydney concerning the resettlement of Australian girls and youngsters who’ve just lately returned to the nation from Syria. AAP have filed this report:
It is a nice primer forward of tomorrow’s Victorian state election:
Joe Hinchliffe
Proposed coalmine by Clive Palmer-owned firm would pose ‘unacceptable’ danger of local weather disaster, courtroom finds
Right here’s an replace on our earlier publish a few Queensland courtroom discovering that the plans of an organization owned by Clive Palmer to dig Australia’s largest thermal coalmine would infringe upon the human rights of future generations.
The Queensland land courtroom president, Fleur Kingham, discovered the 1.58 gigatonnes of carbon emissions that may be produced would pose an “unacceptable” danger of local weather disaster for Queensland folks and property that “had not been absolutely accounted for”.
Kingham discovered the mine would make a major dent in Australia’s carbon funds beneath the Paris settlement.
Kingham additionally discovered it will infringe upon the human rights of First Nations Queenslanders.
“In relation to local weather change, I’ve discovered that the next rights of sure teams of individuals in Queensland could be restricted: the best to life, the cultural rights of First Nations peoples, the rights of youngsters, the best to property and to privateness and residential, and the best to take pleasure in human rights equally,” she mentioned.