Australia's Off-Grid Clean Energy Market Research Paper

Total Page:16

File Type:pdf, Size:1020Kb

Australia's Off-Grid Clean Energy Market Research Paper AUSTRALIA’S OFF-GRID CLEAN ENERGY MARKET RESEARCH PAPER This report was produced with support from the Australian Renewable Energy Agency (ARENA). ARENA was established by the Australian Government as an independent agency on 1 July 2012 to make renewable energy technologies more affordable and increase the amount of renewable energy used in Australia. ARENA invests in renewable energy projects, supports research and development activities, boosts job creation and industry development, and increases knowledge about renewable energy. More information about ARENA can be found at www.arena.gov.au Follow us on Twitter: @ARENA_aus Subscribe to updates: arena.gov.au/subscribe NewActon Nishi, 2 Phillip Law Street, Canberra GPO Box 643, Canberra ACT 2601 T: +61 2 6243 7773 A ustralian Renewable Energy Agency 08-Oct-2014 Australia's Off-Grid Clean Energy Market Research Paper AECOM Australia's Off-Grid Clean Energy Market Research Paper Australian Renewable Energy Agency Client: Australian Renewable Energy Agency ABN: 35 931 927 899 Prepared by AECOM Australia Pty Ltd Level 21, 420 George Street, Sydney NSW 2000, PO Box Q410, QVB Post Office NSW 1230, Australia T +61 2 8934 0000 F +61 2 8934 0001 www.aecom.com ABN 20 093 846 925 08-Oct-2014 AECOM in Australia and New Zealand is certified to the latest version of ISO9001, ISO14001, AS/NZS4801 and OHSAS18001. © AECOM Australia Pty Ltd (AECOM). All rights reserved. AECOM has prepared this document for the sole use of the Client and for a specific purpose, each as expressly stated in the document. No other party should rely on this document without the prior written consent of AECOM. AECOM undertakes no duty, nor accepts any responsibility, to any third party who may rely upon or use this document. This document has been prepared based on the Client’s description of its requirements and AECOM’s experience, having regard to assumptions that AECOM can reasonably be expected to make in accordance with sound professional principles. AECOM may also have relied upon information provided by the Client and other third parties to prepare this document, some of which may not have been verified. Subject to the above conditions, this document may be transmitted, reproduced or disseminated only in its entirety. 08-Oct-2014 Prepared for – Australian Renewable Energy Agency – ABN: 35 931 927 899 AECOM Table of Contents Executive Summary i 1.0 Introduction 1 2.0 Australia in the Global Context 3 2.1.1 Global renewable energy market 3 2.1.2 Australian energy industry 3 2.1.3 International remote or off-grid market 5 3.0 Australian Electricity Markets 7 3.1 Overview 7 3.2 National Electricity Market 9 3.3 South West Interconnected System (SWIS) 11 3.4 Australia’s fringe-of-grid market 13 3.5 Australia’s Off-grid Electricity Market 14 3.5.1 Overview 14 3.5.2 Existing off-grid generation 15 3.5.3 Value proposition for off-grid renewable energy 17 3.5.4 Australia’s off-grid renewable market size and distribution 18 3.5.5 Stakeholders consultations 22 4.0 Government Legislation, Policies and Programs 26 4.1 National energy policy in Australia 26 4.2 Australia’s Direct Action Plan 26 4.2.1 Emissions Reduction Fund 26 4.2.2 Solar Towns 26 4.3 Other major initiatives 27 4.3.1 The Renewable Energy Target (RET) 27 4.3.2 Australian Renewable Energy Agency (ARENA) 27 4.3.3 The Clean Energy Finance Corporation (CEFC) 27 4.3.4 ARENA’s Regional Australia Renewables (RAR) program 28 4.4 Other support programs 28 5.0 Off-grid Interconnected Systems 31 5.1 Western Australia 31 5.2 Northern Territory 31 5.3 Queensland 33 5.4 Renewable energy opportunities in off-grid interconnected systems 34 5.4.1 Large shopping centres and warehouses 34 5.4.2 Behind-the-meter installations on hospitals, schools, airports 34 5.5 Challenges to renewable energy in the off-grid interconnected systems 34 5.5.1 Economics 34 5.5.2 Opposing subsidies 34 5.5.3 Split incentives 35 5.6 Off-grid interconnected systems case studies 35 6.0 Off-grid Industrial Market 36 6.1 Mining sector 36 6.1.1 State of the market 36 6.1.2 Market outlook 37 6.1.3 Energy demand in the mining sector 41 6.2 Renewable energy in the mining sector considerations 43 6.3 Independent Power Producers 46 6.3.1 Energy Development Ltd 46 6.3.2 Pacific Energy 47 6.4 Off-grid industrial case studies 48 6.5 Other off-grid Industrial applications 48 6.5.1 Non-Mining Industrial renewable energy opportunities 49 7.0 Off-grid Communities Market 51 7.1 Western Australia 53 7.1.1 Remote communities 53 08-Oct-2014 Prepared for – Australian Renewable Energy Agency – ABN: 35 931 927 899 AECOM Source: AECOM; (Horizon Power, 2012-13) 55 7.1.2 Key stakeholders 55 7.1.3 Renewable energy opportunities 57 7.1.4 Case Studies 59 7.2 Northern Territory 60 7.2.1 Territory growth towns and remote communities 60 7.2.2 Key stakeholders 63 7.2.3 Renewable energy opportunities 63 7.3 Queensland 63 7.3.1 Remote communities 64 7.3.2 Key stakeholders 65 7.3.3 Renewable Energy opportunities 66 7.3.4 Case studies 66 7.4 South Australia 67 7.4.1 Remote communities 67 7.4.2 Key stakeholders 68 7.4.3 Renewable energy opportunities 68 7.5 Independent remote networks 68 7.5.1 Islands 69 7.5.1 Outstations and homelands 70 7.5.2 Aboriginal communities in Western Australia, not serviced by Horizon Power 70 7.6 Summary of key opportunity areas 71 7.7 Challenges to renewable energy in the community market 72 8.0 Renewable Hybrid Considerations 75 8.1 Financial drivers 75 8.2 Feasibility assessment guide 77 8.2.1 Existing system assessment 77 8.2.2 Optimisation 77 8.3 Hybrid assessment tools 78 8.4 Enabling Technologies 79 8.4.1 Energy storage 79 8.4.2 Diesel generator performance 80 8.4.3 Cloud tracking 81 8.4.4 Demand management 81 8.4.5 Control systems 81 8.5 Common hybrid risks 81 8.6 Project procurement – contracting strategy options 83 9.0 Bibliography 86 Appendix A A Renewable Resources and Technology Status A List of Tables Table 1 Overview of the Global Remote Renewable Sub-segments 5 Table 2 Summary of Australia's Energy Markets 7 Table 3 Differences between NEM and SWIS (EnergyAction, 2012) 8 Table 4 NEM Snapshot 9 Table 5 SWIS Snapshot 11 Table 6 Distribution of demand from the off-grid industrial and communities sectors 16 Table 7 Capacity and percentage distribution of off-grid generation by region 17 Table 8 Estimated off-grid renewable market size by Region (MW)** 18 Table 9 Key observations from Off-grid renewable market 22 Table 10 Key opportunities and recommendations for stakeholders 24 Table 11 Remote energy programs 28 Table 12 Electricity generation in 2011 in the NT regulated markets 32 Table 13 Key stakeholders and challenges of large shopping centres and warehouses 34 08-Oct-2014 Prepared for – Australian Renewable Energy Agency – ABN: 35 931 927 899 AECOM Table 14 CSO Subsidy Overview 34 Table 15 Off-grid interconnected systems case studies 35 Table 16 World ranking of Australia's mineral production and resources for 2009 (Source: (Geoscience Australia, 2012), (Austrade, 2014)) 36 Table 17 Summary of Mining projects in the investment pipeline, October 2013 38 Table 18 South Australian mines using off-grid diesel generation systems 43 Table 19 Challenges and opportunities in the mining sector 44 Table 20 EDL’s remote power stations 47 Table 21 Case studies in the mining sector 48 Table 22 Off-grid industrial opportunities 48 Table 23 Key stakeholders and considerations of the Square Kilometre Array 49 Table 24 Key stakeholders and considerations of Pilbara algae project 50 Table 25 Approximate* Community Service Obligation payments to selected utilities for regulation of remote electricity users 52 Table 26 List of remote communities serviced by Horizon Power 54 Table 27 Case studies in Western Australia 59 Table 28 Territory Growth Town electricity supply status (2011) 62 Table 29 Ergon Energy community asset portfolio ( December 2012) 64 Table 30 Case studies of Ergon Energy remote communities 66 Table 31 Diesel generation systems in South Australia 68 Table 32 Case studies for integration of renewables on islands 69 Table 33 NT remote communities renewable energy examples 70 Table 34 Communities in the Shire of Ngaanyatjarraku 70 Table 35 Challenges and solutions to renewable energy in the community market 72 Table 36 Commonly used hybrid assessment tools 78 Table 37 Overview of energy storage configurations with indicative performance factors 79 Table 38 Diesel genset characteristics 80 Table 39 Common hybrid risks 82 Table 40 Contracting strategy options 84 Table 41 Off-grid Renewables Technology & Resource Potential Overview a-2 Table 42 Long term generation potential of animal waste a-6 Table 43 Wave power pilot and demonstration projects in Australia a-10 Table 44 Proposed demonstration wave projects a-11 List of Figures Figure 1 Fringe-of-grid and off-grid areas of Australia 1 Figure 2 Composition of Residential electricity costs in 2012-13 4 Figure 3 National Electricity Market overview 10 Figure 4 Electricity production in the NEM by fuel type (FY 2012) 11 Figure 5 Map of SWIS 12 Figure 6 Proportion of generation in the SWIS by fuel type, 2011 13 Figure 7 NSP Average Network Customer Density 13 Figure 8 Off-grid generation in off-grid Australia 15 Figure 9 Distribution of Off-Grid Generation by State and Territory 16 Figure 10 Estimated off-grid renewable market size by Region (MW) 19 Figure 11 Non-renewable off-grid generation and hybrid potential in Australia 21 Figure 12 North West Interconnected System (NWIS) 31 Figure 13 Power Water Corporation interconnected systems and power
Recommended publications
  • Social and Environmental Effects of Bujagali Dam
    FACULTY OF ENGINEERING AND SUSTAINABLE DEVELOPMENT Department of Building, Energy and Environmental Engineering SOCIAL AND ENVIRONMENTAL EFFECTS OF BUJAGALI DAM MUWUMUZA LINDA 2014 MASTER OF SCIENCE THESIS, Credits: H.E 30 DIVISION OF SUSTAINABLE ENERGY Supervisor: DR. JEEVAN JAYASURIYA A/PROF DR. JOHN BAPTIST KIRABIRA Dedication Well yes Mum, I did as we discussed and so this is for you. You spoke, I listened and this is the outcome. I pray you are proud of me. Love you always. Acknowledgements I would love to thank the following people for their contribution towards the finishing of my project. I would not have finished it successfully without you. My Family Daddy Angella Stephen Amanda College of Engineering, Design, Art and Technology My local facilitators Dr. Sabiiti Adam Hillary Kasedde My Supervisors Dr. Jeevan Jayasuriya Dr. John Baptist Kirabira The Ministry of Energy and Mineral Development especially: Eng. Moses Murengezi: Advisor to the Chairman Energy and Mining Sector Working group Eng. Paul Mubiru: Permanent Secretary, Ministry of Energy and Mineral Development The Bujagali Energy Limited Company especially: Mr. John Berry: Chief Executive Officer of BEL Ms. Achanga Jennifer: Environmental Engineer of BEL Francis Mwangi: Technical Manager Allan Ikahu: Infrastructure and Project Engineer My Friends: John, Anthony, Mue, Winnie, Arthur, Vincent, Hajarah, Fildah, Winnie, Richard and all the rest List of Acronyms ADB African Development Bank AES Applied Energy Services BEL Bujagali Energy Limited MEMD Ministry of Energy and Mineral Development NGO Non Government Organization O&M Energy Operations and Maintenance Energy Limited PAP Project Affected Persons USAID United States Agency for International Development Abstract There has been a steady increment in economic growth in Uganda and as the economy is on the rise, the demand for energy also increases.
    [Show full text]
  • Western Australia Gas Statement of Opportunities
    Western Australia Gas Statement of Opportunities December 2018 Important notice PURPOSE The purpose of this publication is to provide information about the natural gas industry in Western Australia. AEMO publishes this Western Australian Gas Statement of Opportunities (GSOO) in accordance with rule 103 of the Gas Services Information Rules (GSI Rules). This publication has been prepared by AEMO using information available at 14 August 2018. Information made available after this date may have been included in this publication, where practical. DISCLAIMER This document, or the information in it, may be subsequently updated or amended. This document does not constitute legal or business advice, and should not be relied on as a substitute for obtaining detailed advice about the Gas Services Information Rules, or any other applicable laws, procedures or policies. AEMO has made every effort to ensure the quality of the information in this document, but cannot guarantee its accuracy or completeness. Accordingly, to the maximum extent permitted by law, AEMO and its officers, employees and consultants involved in the preparation of this document: • make no representation or warranty, express or implied, as to the currency, accuracy, reliability or completeness of the information in this document; and • are not liable (whether by reason of negligence or otherwise) for any statements or representations in this document, or any omissions from it, or for any use or reliance on the information in it. ACKNOWLEDGEMENTS AND FEEDBACK AEMO acknowledges the support, co-operation and the contribution of Gas Market Participants and gas stakeholders for providing data and information, received via formal and informal feedback, used in this publication.
    [Show full text]
  • Diamantina and Leichhardt Power Stations
    Diamantina and Leichhardt Power Stations 29 March 2016 Disclaimer This presentation has been prepared by Australian Pipeline Limited (ACN 091 344 704) the responsible entity of the Australian Pipeline Trust (ARSN 091 678 778) and APT Investment Trust (ARSN 115 585 441) (APA Group). Summary information: This presentation contains summary information about APA Group and its activities current as at the date of this presentation. The information in this presentation is of a general background nature and does not purport to be complete nor does it contain all the information which a prospective investor may require in evaluating a possible investment in APA Group. It should be read in conjunction with the APA Group’s other periodic and continuous disclosure announcements which are available at www.apa.com.au. Not financial product advice: Please note that Australian Pipeline Limited is not licensed to provide financial product advice in relation to securities in the APA Group. This presentation is for information purposes only and is not financial product or investment advice or a recommendation to acquire APA Group securities and has been prepared without taking into account the objectives, financial situation or needs of individuals. Before making an investment decision, prospective investors should consider the appropriateness of the information having regard to their own objectives, financial situation and needs and consult an investment adviser if necessary. Past performance: Past performance information given in this presentation is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance. Future performance: This presentation contains certain “forward-looking statements” such as indications of, and guidance on, future earnings and financial position and performance.
    [Show full text]
  • The State of Venezuela's Forests
    ArtePortada 25/06/2002 09:20 pm Page 1 GLOBAL FOREST WATCH (GFW) WORLD RESOURCES INSTITUTE (WRI) The State of Venezuela’s Forests ACOANA UNEG A Case Study of the Guayana Region PROVITA FUDENA FUNDACIÓN POLAR GLOBAL FOREST WATCH GLOBAL FOREST WATCH • A Case Study of the Guayana Region The State of Venezuela’s Forests. Forests. The State of Venezuela’s Págs i-xvi 25/06/2002 02:09 pm Page i The State of Venezuela’s Forests A Case Study of the Guayana Region A Global Forest Watch Report prepared by: Mariapía Bevilacqua, Lya Cárdenas, Ana Liz Flores, Lionel Hernández, Erick Lares B., Alexander Mansutti R., Marta Miranda, José Ochoa G., Militza Rodríguez, and Elizabeth Selig Págs i-xvi 25/06/2002 02:09 pm Page ii AUTHORS: Presentation Forest Cover and Protected Areas: Each World Resources Institute Mariapía Bevilacqua (ACOANA) report represents a timely, scholarly and Marta Miranda (WRI) treatment of a subject of public con- Wildlife: cern. WRI takes responsibility for José Ochoa G. (ACOANA/WCS) choosing the study topics and guar- anteeing its authors and researchers Man has become increasingly aware of the absolute need to preserve nature, and to respect biodiver- Non-Timber Forest Products: freedom of inquiry. It also solicits Lya Cárdenas and responds to the guidance of sity as the only way to assure permanence of life on Earth. Thus, it is urgent not only to study animal Logging: advisory panels and expert review- and plant species, and ecosystems, but also the inner harmony by which they are linked. Lionel Hernández (UNEG) ers.
    [Show full text]
  • Energy 2020 (Report 11: 2020–21)
    FINANCIAL AUDIT REPORT 4 February 2021 Energy 2020 Report 11: 2020–21 • Queensland • • Audit Office Better public services As the independent auditor of the Queensland public sector, including local governments, the Queensland Audit Office: • provides professional audit services, which include our audit opinions on the accuracy and reliability of the financial statements of public sector entities • provides entities with insights on their financial performance, risk, and internal controls; and on the efficiency, effectiveness, and economy of public service delivery • produces reports to parliament on the results of our audit work, and on our insights, advice, and recommendations for improvement • conducts investigations into claims of financial waste and mismanagement raised by elected members, state and local government employees, and the public • shares wider learnings and best practice from our work with state and local government entities, our professional networks, industry, and peers. We conduct all our audits and reports to parliament under the Auditor-General Act 2009 (the Act). Our work complies with the Auditor-General Auditing Standards and the Australian standards relevant to assurance engagements. • Financial audit reports summarise the results of our audits of over 400 state and local government entities. • Performance audit reports cover our evaluation of some, or all, of the entities’ efficiency, effectiveness, and economy in providing public services. Depending on the level of assurance we can provide, these reports may also take the form of: • Audit insights, which provide some evaluation and share our insights or learnings from our audit work across government • Audit briefs, which set out key facts, involve some evaluation, and may include findings and recommendations • Audit overviews, which help clients and stakeholders understand complex issues and subjects.
    [Show full text]
  • ROAM Consulting Report on Security of Supply and Tranmission Impacts Of
    ROAM Consulting Pty Ltd A.B.N. 54 091 533 621 Report (EMC00017) to Impact of the LRET on the costs of FCAS, NCAS and Transmission augmentation 13 September 2011 Report to: Impact of the LRET on the costs of FCAS, NCAS and Transmission augmentation EMC00017 13 September 2011 VERSION HISTORY Version History Revision Date Issued Prepared By Approved By Revision Type Jenny Riesz Joel Gilmore Sam Shiao 0.9 2011-07-04 Ian Rose Preliminary Draft David Yeowart Richard Bean Matthew Holmes Jenny Riesz 1 2011-07-07 Ian Rose Complete Matthew Holmes 1.1 2011-07-07 Jenny Riesz Ian Rose Minor text edits Minor text edits - Appendix B 1.2 2011-09-01 Jenny Riesz - and explanation of Badgingarra Minor text edits – further 1.3 2011-09-13 Jenny Riesz - explanation of Badgingarra ROAM Consulting Pty Ltd VERSION HISTORY www.roamconsulting.com.au Report to: Impact of the LRET on the costs of FCAS, NCAS and Transmission augmentation EMC00017 13 September 2011 EXECUTIVE SUMMARY At the request of the Ministerial Council on Energy, the Australian Energy Market Commission (AEMC) is conducting an assessment of the impact of the Large-scale Renewable Energy Target (LRET) on security of energy supply, the price of electricity and emissions levels from the energy sector. The AEMC appointed consultants to develop a long-term generation expansion plan for meeting the LRET. Consequently, the ‘core’ scenarios for the portfolio and geographic distribution of technologies have been determined. ROAM Consulting was subsequently appointed to utilise these scenarios to forecast the cost of Frequency Control Ancillary Services (FCAS), Network Support and Control Ancillary Services (NSCAS) and transmission augmentation associated with the LRET for the National Electricity Market (NEM) and the South West Interconnected System (SWIS).
    [Show full text]
  • Final Report
    The Senate Select Committee on Wind Turbines Final report August 2015 Commonwealth of Australia 2015 ISBN 978-1-76010-260-9 Secretariat Ms Jeanette Radcliffe (Committee Secretary) Ms Jackie Morris (Acting Secretary) Dr Richard Grant (Principal Research Officer) Ms Kate Gauthier (Principal Research Officer) Ms Trish Carling (Senior Research Officer) Mr Tasman Larnach (Senior Research Officer) Dr Joshua Forkert (Senior Research Officer) Ms Carol Stewart (Administrative Officer) Ms Kimberley Balaga (Administrative Officer) Ms Sarah Batts (Administrative Officer) PO Box 6100 Parliament House Canberra ACT 2600 Phone: 02 6277 3241 Fax: 02 6277 5829 E-mail: [email protected] Internet: www.aph.gov.au/select_windturbines This document was produced by the Senate Select Wind Turbines Committee Secretariat and printed by the Senate Printing Unit, Parliament House, Canberra. This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Australia License. The details of this licence are available on the Creative Commons website: http://creativecommons.org/licenses/by-nc-nd/3.0/au/ ii MEMBERSHIP OF THE COMMITTEE 44th Parliament Members Senator John Madigan, Chair Victoria, IND Senator Bob Day AO, Deputy Chair South Australia, FFP Senator Chris Back Western Australia, LP Senator Matthew Canavan Queensland, NATS Senator David Leyonhjelm New South Wales, LDP Senator Anne Urquhart Tasmania, ALP Substitute members Senator Gavin Marshall Victoria, ALP for Senator Anne Urquhart (from 18 May to 18 May 2015) Participating members for this inquiry Senator Nick Xenophon South Australia, IND Senator the Hon Doug Cameron New South Wales, ALP iii iv TABLE OF CONTENTS Membership of the Committee ........................................................................ iii Tables and Figures ............................................................................................
    [Show full text]
  • Solar Energy Policy Setting and Applications to Cotton Production
    SOLAR ENERGY POLICY SETTING AND APPLICATIONS TO COTTON PRODUCTION JW Powell I JM Welsh SOLAR ENERGY POLICY SETTING AND APPLICATIONS TO COTTON PRODUCTION Report outline Executive Summary 5 1. Energy in agriculture 6 • Energy Use in World Agriculture 6 • Energy Use in Australian Agriculture 7 • Energy Use in Irrigated Cotton 8 • The feasibility and development of renewable energy sources for cotton 9 2. Energy Policy Setting 11 • Australian Government Renewable Energy Policies 11 • Renewable Energy Target (RET) 11 • Emissions Reduction Fund 14 • Other Government Bodies 15 3. Electricity Markets & Pricing 16 • Advances in Solar Technology 20 • A Bright Future for Solar Energy in Australia 23 4. Associated solar technology 25 • Utilising ‘excess’ solar energy 25 • Battery Storage 25 • Electric Vehicles 26 Conclusion 27 Acknowledgements 27 References 28 2 SOLAR ENERGY POLICY SETTING AND APPLICATIONS TO COTTON PRODUCTION www.cottoninfo.com.au 3 SOLAR ENERGY POLICY SETTING AND APPLICATIONS TO COTTON PRODUCTION Executive Summary Energy is at the forefront of agricultural issues in Australia. Two key concerns dominate the discussion of agricultural energy: pricing volatility of energy and government policy supporting renewable energy. Together these concerns have resulted in a stimulated interest in the potential substitutes for fossil fuels. A scarcity in energy sources (particularly crude oil) has highlighted the dependence of energy-related agricultural inputs such as fertilizer, electricity and fuels for farm plant and irrigation pumping. As government policies develop, environmental concerns related to global climate change and market signals from the consumer to improve sustainability have encouraged investigation of alternative energy sources to transform the relationship between the energy and agriculture sectors.
    [Show full text]
  • ERM Power's Neerabup
    PROSPECTUS for the offer of 57,142,858 Shares at $1.75 per Share in ERM Power For personal use only Global Co-ordinator Joint Lead Managers ERMERR M POWERPOWEPOWP OWE R PROSPECTUSPROSPEOSP CTUCTUSTU 1 Important Information Offer Information. Proportionate consolidation is not consistent with Australian The Offer contained in this Prospectus is an invitation to acquire fully Accounting Standards as set out in Sections 1.2 and 8.2. paid ordinary shares in ERM Power Limited (‘ERM Power’ or the All fi nancial amounts contained in this Prospectus are expressed in ‘Company’) (‘Shares’). Australian currency unless otherwise stated. Any discrepancies between Lodgement and listing totals and sums and components in tables and fi gures contained in this This Prospectus is dated 17 November 2010 and a copy was lodged with Prospectus are due to rounding. ASIC on that date. No Shares will be issued on the basis of this Prospectus Disclaimer after the date that is 13 months after 17 November 2010. No person is authorised to give any information or to make any ERM Power will, within seven days after the date of this Prospectus, apply representation in connection with the Offer which is not contained in this to ASX for admission to the offi cial list of ASX and quotation of Shares on Prospectus. Any information not so contained may not be relied upon ASX. Neither ASIC nor ASX takes any responsibility for the contents of this as having been authorised by ERM Power, the Joint Lead Managers or Prospectus or the merits of the investment to which this Prospectus relates.
    [Show full text]
  • CLEAN ENERGY ACT 2011 (Cth) V RENEWABLE ENERGY (ELECTRICITY) ACT 2000 (Cth)
    A TALE OF TWO TAXES: CLEAN ENERGY ACT 2011 (Cth) v RENEWABLE ENERGY (ELECTRICITY) ACT 2000 (Cth) ALEXANDER ROBERT (‘LEX’) FULLARTON* 01 June 2018 * M Com (Curtin), PhD (UNSW), Adjunct Professor, Curtin Business School, Curtin University, Lex.Fullarton@ curtin.edu.au. Lex Fullarton is a former provincial tax practitioner and is also a solar farmer as well as an accredited agent and solar pv installation designer with the Australian Clean Energy Regulator. Abstract Firstly, this paper defines a tax to establish a definition of a carbon tax and then examines the Clean Energy Act 2011 (Cth) (CE Act), which is considered to be a carbon tax. Secondly, it examines the Australian Renewable Energy (Electricity) Act 2000 (Cth) (REE Act) to ascertain if it functions as a tax on greenhouse gas emissions and is therefore also a carbon tax. It examines both pieces of legislation to compare and contrast them to establish the view that the REE Act is not a quota based system to limit greenhouse gas emissions (a ‘cap and trade’ system) but rather it is a carbon tax system. To do that the paper investigates various definitions of tax. It compares those definitions with the legislative intent and functions of the REE Act to answer the question – is the REE Act a carbon tax system? It concludes that the provisions of the REE Act function as a form of carbon tax. It also concludes that tax revenue, sourced from an excise on fossil fuel generated electricity, is specifically directed by government to a particular purpose – the revenue is hypothecated to support the burgeoning renewable energy industry in Australia.
    [Show full text]
  • Direct Action: Paying Polluters to Halt Global Warming?
    Chapter 3 The Clean Energy Package and the impact of its proposed repeal Policy background 3.1 On 27 September 2010, Prime Minister the Hon Julia Gillard announced that a Multi-Party Climate Change Committee (MPCC) would be established to explore options for implementing a carbon price and to build consensus on how Australia will tackle the challenge of climate change.1 3.2 The MPCC was chaired by the Prime Minister and was comprised of members of the Australian Labor Party, the Australian Greens and independent members of the House of Representatives, Mr Tony Windsor and Mr Rob Oakeshott. The committee was assisted by a panel of expert advisers including Ms Patricia Faulkner AO, Professor Ross Garnaut AO, Mr Rod Sims and Professor Will Steffen.2 3.3 On 10 July 2011, the MPCC released the Clean Energy Agreement (the Agreement) to reduce carbon pollution.3 In the Agreement the MPCC recognised that 'cuts in global pollution are necessary to reduce the risks posed by unmitigated climate change'.4 It noted that for Australia, 'these risks are large, threatening our economy, our natural heritage (including icons such as the World Heritage listed Great Barrier Reef), food security, and our way of life'.5 3.4 The Agreement recommended that a broad based carbon price be introduced into Australia commencing from 1 July 2012 with a fixed price before transitioning to 1 Department of Environment, Feature: Multi-Party Climate Change Committee, http://www.climatechange.gov.au/about-us/annual-reports/annual-report-2010-11/feature- multi-party-climate-change-committee (accessed 24 February 2014).
    [Show full text]
  • Estimated Energy Purchase Costs for Final Determination
    Estimated energy purchase costs for Final Determination (Draft) Estimated energy purchase costs for use by the Queensland Competition Authority in its Final Determination on retail electricity tariffs for 2012/13 Prepared for the Queensland Competition Authority May 2012 Reliance and Disclaimer The professional analysis and advice in this report has been prepared by ACIL Tasman for the exclusive use of the party or parties to whom it is addressed (the addressee) and for the purposes specified in it. This report is supplied in good faith and reflects the knowledge, expertise and experience of the consultants involved. The report must not be published, quoted or disseminated to any other party without ACIL Tasman’s prior written consent. ACIL Tasman accepts no responsibility whatsoever for any loss occasioned by any person acting or refraining from action as a result of reliance on the report, other than the addressee. In conducting the analysis in this report ACIL Tasman has endeavoured to use what it considers is the best information available at the date of publication, including information supplied by the addressee. Unless stated otherwise, ACIL Tasman does not warrant the accuracy of any forecast or prediction in the report. Although ACIL Tasman exercises reasonable care when making forecasts or predictions, factors in the process, such as future market behaviour, are inherently uncertain and cannot be forecast or predicted reliably. ACIL Tasman shall not be liable in respect of any claim arising out of the failure of a client investment to perform to the advantage of the client or to the advantage of the client to the degree suggested or assumed in any advice or forecast given by ACIL Tasman.
    [Show full text]