New South Wales, Australia

IEEFA Research

IEEFA: Australia’s climate policies could push New South Wales into a debt spiral

IEEFA: Australia’s climate policies could push New South Wales into a debt spiral

Climate policy failure will shrink Australia’s GDP by 6% and increase net debt in NSW to 100% by 2060, with taxpayers footing the bill

20 October 2021 (IEEFA Australia): Australia’s failure to commit to net zero targets or any credible climate policy is a growing economic threat to New South Wales and other states, argues a new report by the Institute of Energy Economics and Financial Analysis (IEEFA). The Reserve Bank of Australia’s deputy governor Guy Debelle last week […]

and October 20, 2021 Read More →
IEEFA: A loss of excise tax revenue should not stall the uptake of electric vehicles in Australia

IEEFA: A loss of excise tax revenue should not stall the uptake of electric vehicles in Australia

More pragmatic focus would be incentivising industry and modernizing the grid

8 June 2021 (IEEFA Australia): A new tax on EV users is unnecessary as the Australian (Commonwealth) government is well placed to deal with the potential revenue impact of the inevitable move to electric vehicles, finds a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA). Global automotive manufacturers have committed almost […]

IEEFA Australia: Port of Newcastle’s roadblock on the path away from thermal coal

IEEFA Australia: Port of Newcastle’s roadblock on the path away from thermal coal

Planned fossil fuel exit by the world’s largest coal port is paralysed by lending constraints and a secret NSW government deal

The Port of Newcastle’s planned exit from fossil fuels suffered further setback last month after ANZ withdrew financing from the terminal, presently the world’s largest port for exporting thermal coal. ANZ had previously been a major lender to the port, however divested its position during the latest round of refinancing of approximately A$900 million in […]

March 18, 2021 Read More →
IEEFA Australia: Coal plant closures imminent as renewable energy surges

IEEFA Australia: Coal plant closures imminent as renewable energy surges

Several coal power plants in the National Electricity Market likely to be financially unviable by 2025

24 February 2020 (IEEFA Australia): Several of the 16 coal power plants in the National Electricity Market (NEM) will be financially unviable and at least one is likely to face closure several years sooner than planned due to coal plants’ poor flexibility and inability to adapt to a rapid influx of renewable energy, finds a new […]

IEEFA: Australia should be a net-zero emissions leader

IEEFA: Australia should be a net-zero emissions leader

Setting a target of net-zero emissions by 2050 would maximise employment, investment and export opportunities

11 December 2020 (IEEFA Australia): Australia must align itself with the global push to go carbon-neutral to maintain strong trade in a net zero emissions world, the Institute for Energy Economics and Financial Analysis (IEEFA) notes in its submission in support of a new climate change bill before the Australian parliament. The bill, introduced by Zali Steggall, […]

IEEFA Australia: Snowy Hydro gas plant expansions likely to be fuelled with taxpayer funds

IEEFA Australia: Snowy Hydro gas plant expansions likely to be fuelled with taxpayer funds

Gas is a poor bet, and coupled with the financially challenged Snowy Hydro 2.0, is a sure stranded asset maker

19 November 2020 (IEEFA Australia): Careful scrutiny of Snowy Hydro’s latest financial results show the company is heading towards an uneasy reliance on government and taxpayer subsidies post 2021, throwing into serious doubt the government’s heady push for further gas expansion in a declining market, finds a new briefing note by the Institute for Energy […]

IEEFA: What Australia can learn from Texas’ embrace of clean energy

IEEFA: What Australia can learn from Texas’ embrace of clean energy

In the home of U.S. oil and gas, private investors are pouring money into renewables

19 October 2020 (IEEFA Australia): The Australian government’s plan for a gas-fired economic recovery from COVID-19 ignores the market’s clear preference for renewables over fossil fuels. That’s the conclusion of a new note from the Institute for Energy Economics and Financial Analysis (IEEFA) that argues Australia could learn from the experience of U.S. oil and […]

IEEFA Australia: Gas and electricity prices will rise if Narrabri gas fields approved

IEEFA Australia: Gas and electricity prices will rise if Narrabri gas fields approved

29 September 2020 (IEEFA): Australian gas consumers will likely see higher, rather than lower gas prices if Santos’ Narrabri gas fields are approved due to the distance the gas must travel to reach consumers on infrastructure that will need to be built. Gas/LNG financial analyst Bruce Robertson concludes the proposed Narrabri gas fields are uneconomic […]

IEEFA Australia: COVID-19 Advisory Board wants government to subsidise failing gas industry

IEEFA Australia: COVID-19 Advisory Board wants government to subsidise failing gas industry

Gas usage for gas powered generation has declined by 58% since 2014

28 August 2020 (IEEFA Australia): Proposals for providing long term subsidies to the flailing gas industry have the potential to cause significant long-term economic damage to Australia, finds a new report by energy thinktank, the Institute for Energy Economics and Financial Analysis (IEEFA). The National COVID-19 Commission (Advisory Board) (NCC) led by Western Australian gas […]

IEEFA Australia: The state of NSW should not sponsor a loss-making, wealth destroying industry

IEEFA Australia: The state of NSW should not sponsor a loss-making, wealth destroying industry

The Narrabri gas project must be rejected

26 August 2020 (IEEFA Australia): The NSW Independent Planning Commission (IPC) will have no other avenue but to reject the proposed coal seam gas project in Narrabri, New South Wales after assessing the clear and unequivocal evidence surrounding the many economic and environmental, social and governance issues related to the proposal, notes the Institute for […]

More News and Commentary

Renewables push Victoria power prices to 1 penny per megawatt-hour

Renew Economy: One cent a megawatt hour. That was the average price of wholesale power for most of the daytime hours in the state of Victoria in August and September. Record amounts of renewable energy generation on Australia’s main grid, and an abundance of rooftop solar, sent the average spot electricity price in Victoria down […]

October 21, 2021 Read More →
IEEFA: Australia’s climate policies could push New South Wales into a debt spiral
and

IEEFA: Australia’s climate policies could push New South Wales into a debt spiral

Climate policy failure will shrink Australia’s GDP by 6% and increase net debt in NSW to 100% by 2060, with taxpayers footing the bill

20 October 2021 (IEEFA Australia): Australia’s failure to commit to net zero targets or any credible climate policy is a growing economic threat to New South Wales and other states, argues a new report by the Institute of Energy Economics and Financial Analysis (IEEFA). The Reserve Bank of Australia’s deputy governor Guy Debelle last week […]

and October 20, 2021 Read More →

Solar meets majority of Australia grid demand for first time

Renew Economy: The combined output of rooftop and large scale solar met more than half of Australia’s grid demand for the first time on Sunday, as records for renewable output and share of demand continued to tumble across the country and coal output hit a record low. As the National Party met on Sunday to […]

October 18, 2021 Read More →

Transgrid estimates Australia renewables could hit 91% by 2030

Renew Economy: One of Australia’s largest transmission network operators, presiding over the nation’s most coal dependent state, says the national grid could – and should – be 100% renewable powered by 2035, with all coal generation phased out completely by 2032. Transgrid, which manages and operates the high voltage electricity transmission network in New South […]

October 13, 2021 Read More →
IEEFA Australia: Afraid of the dark and clutching at coal, ESB still beating the capacity mechanism drum
and

IEEFA Australia: Afraid of the dark and clutching at coal, ESB still beating the capacity mechanism drum

Energy Security Board claims Dunkelflaute is a key reason for a capacity mechanism – where is the evidence?

The Energy Security Board (ESB) has cited periods of scarce wind and solar resources as a key reason to implement the contested capacity mechanism, which will see payments from energy consumers to primarily conventional power generators for their capacity to generate electricity, rather than for actually generating electricity. The ESB has claimed the market is […]

Alinta plans 1-gigawatt offshore wind farm linked to Australia main grid

Renew Economy: Alinta is planning to build a huge 1 gigawatt offshore wind farm to tap into Australia’s main grid – the first major utility in the country to make such a commitment – as part of a massive spending spree on renewables and storage. CEO Jeff Dimery says Alinta is also poised to announce […]

October 8, 2021 Read More →

Australia renewables deliver record 35.4% share of generation to grid

Renew Economy: Renewables delivered a record 35.4 per cent share of generation on Australia’s main grid in the month of September, one of many new benchmarks set in this transformative spring, and underlining the accelerating pace of the energy transition. The fact that a record share is set in September is not surprising, given that […]

October 6, 2021 Read More →

Iron ore giant Fortescue pledges to decarbonize operations by 2040

Renew Economy: Fortescue Metals Group has become one of the first of Australia’s major industrial operators to commit to fully decarbonise its operations and supply chains, including a shift to coal-free steel processing and hydrogen-fuelled shipping. In a statement released to the ASX on Tuesday, the iron ore giant said it would adopt a net […]

October 5, 2021 Read More →

New South Wales dramatically increases emissions reduction targets

Renew Economy: The NSW Coalition government has dramatically increased its emissions reduction targets for 2030, setting a new goal of a 50 cut from 2005 levels as part of plans to be a “renewable energy superpower” and attract more than $37 billion in clean energy investment by the end of the decade. The new 50 […]

September 29, 2021 Read More →
IEEFA Australia: ‘Race to replace’ – We need to tie new energy capacity with the exit of old generators
and

IEEFA Australia: ‘Race to replace’ – We need to tie new energy capacity with the exit of old generators

There are many options to manage the energy transition that don’t involve capacity payments

Uncertainty in the national electricity market is driving investment risk, due to high levels of uncertainty around coal exits, short term market contracting, early mover disadvantage in power technologies subject to deflation, and unpredictable government intervention, among other things. The Energy Security Board’s capacity mechanism has been proposed as a solution to these challenges. It […]