Finkel shows the way forward on energy policy

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14 November 18, 12:47pm Demand for #natgas is expected to surge 45 per cent by 2040 with #gas providing 25 per cent of global energy demand… https://t.co/iWvjaGvVJM
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by APPEALtd
14 November 18, 8:45am The latest @IEA report identifies the vital role Australia’s #natgas will play in delivering a more secure, afforda… https://t.co/0qpoB55FXN
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by APPEALtd
14 November 18, 8:11am Forecasts by @IEA show global demand for #natgas will surge over the next 20 years, creating a phenomenal #economic… https://t.co/bV4jkGNYnG
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by APPEALtd
13 November 18, 1:24pm Enter now - 2018 Environment and Safety Excellence Awards focus on safety and #environmental excellence and highlig… https://t.co/N1QSi3u3fk
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by APPEALtd

 The Finkel Review into the Future Security of the National Electricity Market has made recommendations that could help resolve the current climate policy impasse and place downward pressure on energy prices.

APPEA Chief Executive Dr Malcolm Roberts said the report, released on Friday 9 June, highlighted the importance of gas to Australian households and industry, and it provided a rare opportunity to better align Australia’s climate change and energy policies. Bipartisan support for its recommendations was needed for investment certainty.

The gas industry welcomes the review’s recommendation that governments should avoid blanket restrictions and bans on gas projects and instead encourage the safe exploration and development of the industry by adopting evidence based regulatory regimes to manage risk on a case-by-case basis.

The report’s key recommendations include a Clean Energy Target and the removal of blanket bans and moratoriums on gas development.

“While the gas industry prefers an economy-wide market mechanism, a Clean Energy Target could reduce emissions from electricity generation,” said Dr Roberts.

“To work, a target must be realistically ambitious – set at a level that winds back our dependence on coal-fired generation without jeopardising energy security.

“The best option today to cut emissions is to use more gas-fired power generation. As the review confirms, gas can complement the intermittent nature of renewable power generation and produce electricity with one-third to one-half lower emissions than coal.

“Instead, we are seeing gas-fired generation squeezed out of the mix by cheap coal and subsidised renewables. Along with policies to remove barriers to gas development, a Clean Energy Target could help reverse the trend of gas disappearing from the energy mix.”