What energy prices skyrocketed? Aussie Greens Call for Coal Ban – Frustrated with that?

Essay by Eric Worrall

As Australia grapples with a spike in energy prices, the Australian Greens have chosen now to push for the cancellation of coal projects.

Australia calls for rapid coal phase-out to meet new climate goals

May 26, 2022 08:20 am (Updated: May 26, 2022 08:20 am)

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Australia’s Labor Party Form a new government on Monday (May 23), after unprecedented support for the Greens and climate-focused independents ended nearly a decade of conservative coalition rule in Wednesday’s general election. Seven.

New Prime Minister Anthony Albanese of the centre-left Labor party has promised to end “climate wars” – disagreements over the need for action on climate change which has dominated politics in Australia for many years.

Joe Fontaine, a lecturer in environmental science at Murdoch University in Perth, told the Thomson Reuters Foundation: “The election is a powerful vote for climate action.

Getting rid of coal power is ‘crucial’ to meet the Labor government’s new climate targetsFontaine added, who said the Greens and independent companies could push the ambitious goals further.

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Currently, Australia’s energy consumption is dominated by fossil fuels, with coal providing about 40%, oil 34% and gas 22%, according to government figures.

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Read more: https://www.channelnewsasia.com/sustainability/australia-urged-quickly-ditch-coal-meet-new-climate-goals-2708086

Energy prices spike;

Electricity bills spike as global energy crisis hits homes

Via Mike Foley and Nick Toscano
Updated May 26, 2022 – 12.13 pm

Electricity bills for hundreds of thousands of Australian households to rise to $227 a year as consumers feel the pinch Fossil fuel prices soar and Upcoming Energy Secretary Chris Bowen accuses predecessor Angus Taylor of delaying bill shock for political reasons.

While cost-of-living pressures are mounting and inflation is at a two-decade high, the Australian Energy Regulator on Thursday confirmed that a spike in wholesale electricity costs will boost chemicals. Household and small business applications skyrocketed in double digits. country within a few weeks.

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The Australian Energy Regulator usually sets a default market offer on May 1. However, in April the former Coalition government delayed that process until after the May 21 federal election. 5, citing the need for more time for the regulator to compile recent price data. fluctuations.

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NSW and Queensland default rate hikes driven primarily by Wholesale costs soar as higher coal and gas prices drive up the cost of fueling the state’s largest power plants. Coal and natural gas prices are surging around the world as the global energy crisis is exacerbated by energy companies moving away from Russian supplies and scrambling for alternatives in an effort to force starve Moscow of the revenue it needs to finance the war in Ukraine.

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Read more: https://www.brisbanetimes.com.au/business/the-economy/power-bills-set-to-spike-as-global-energy-crunch-hits-home-20220525-p5aojp.html

Australia’s new Labor Government, elected with the promise of strong climate action, may have to depend on a coalition with Green politicians to pass legislation. But Labor’s razor-thin parliamentary majority is in jeopardy, if Labor approaches its Green coalition partners, and causes energy price spikes that are even worse for those in need. Australia is normal with radical fossil fuel bans.

Doing nothing is also a risky choice. Australia’s coal exports are likely to rise sharply, but our fossil fuel power plants are rapidly approaching the end of their lifespan. Over the years, power companies seem to have responded sensibly to public political animosity, by putting their equipment underground, repairing rather than maintaining it, to squeeze every penny. last from their investments before some radical green politicians pull the plug. Our dilapidated fossil fuel power plant infrastructure is ready for scrap.

When my American friends ask me what is our new Prime Minister Anthony Albanese like, my answer is he’s like a male version of Alexandria Ocasio-Cortez.

Like the AOC, our Prime Minister Anthony Albanese has a degree in economics. He also had a lot of unorthodox economic ideas, which he frequently shared with the public, such as Albonese’s explanation that The best way to fight inflation is to increase wages according to government regulations.

Our Prime Minister’s Great Green Power Transition Plan has allotted $200 million for backup batterieswhich I’m sure he thinks is enough.

So I’m really looking forward to writing about our new Prime Minister’s plan to tackle the household energy bill crisis.