Daily Bulletin

  • Written by Michelle Grattan, Professorial Fellow, University of Canberra
image

Despite the government still considering his proposal for a clean energy target (CET) – after endorsing his other 49 recommendations – Chief Scientist Alan Finkel is optimistic the CET remains firmly on the agenda.

Finkel’s challenging task has been to put forward a scheme to bring Australia’s energy market into the future, providing certainty for investment and supply. His plan has required a balance between appeasing consumers on prices and meeting Australia’s commitments on climate change.

This is made harder by the desire of many in the government to push on with developing new “clean-coal-fired” power stations, a term Finkel describes as “a murky concept”. “There is no prohibitions in any of our recommendations. The government has to decide whether to license new technologies,” he says.

Asked about the concept of “reverse auctions” – better called competitive tenders – he says this is “widely recognised to be the most cost-effective means of bringing the lowest cost solution into the market”. But that’s dependent on the wisdom of the entity running the auction rather than the wisdom of investors.

Overall, Finkel acknowledges there’s a hard road ahead for policymaking on energy. “Transitions are always painful,” he says.

Authors: Michelle Grattan, Professorial Fellow, University of Canberra

Read more http://theconversation.com/politics-podcast-alan-finkel-on-the-future-of-australias-energy-market-80010

Business News

Top Tips for Cost-effective Storefront Signage

The retail industry is highly competitive and if you are in the process of setting up a retail store, you have come to the right place, as we offer a few tips to help you create a stunning storefront...

Daily Bulletin - avatar Daily Bulletin

How Freight Forwarding Simplifies Global Trade Operations

Global trade operations are becoming increasingly complex due to international regulations, customs procedures, and the sheer scale of global logistics. For businesses looking to expand internation...

Daily Bulletin - avatar Daily Bulletin

How Car Accident Lawyers Protect Your Rights?

In the aftermath of a car accident, the steps you take can significantly impact your financial and legal future. This is where car accident lawyers step into the frame, equipped with expertise to sa...

Daily Bulletin - avatar Daily Bulletin