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Energy transition

Today

Prime Minister Anthony Albanese.

Labor’s gas strategy a ‘necessary component’ of net-zero by 2050: PM

Anthony Albanese says the government’s Future Gas Strategy, which locks in its use beyond 2050, is a ‘necessary component’ to achieving net-zero emissions. Follow updates live.

  • 5 mins ago
  • Gus McCubbing

Yesterday

Origin Energy CEO Frank Calabria and Octopus Energy CEO Greg Jackson at the Octopus HQ in London.

Origin reaps $420m Octopus gain as Aware Super climbs on board

The UK energy disruptor has upped its valuation by 15pc, in a transaction that brought in Aware and raised the value of Origin’s stake beyond $2 billion.

  • Hans van Leeuwen

This Month

Victoria and likely NSW have established their own makeshift coal capacity schemes.

Keeping coal but excluding gas is an irrational path to net zero

Including gas-generation in the back-up electricity mechanism will help avoid taxpayer funds being used for paradoxical cross-purposes.

  • Steve Davies
HMC Capital’s David Di Pilla and former prime minister Julia Gillard have teamed up to launch a $2 billion Energy Transition Fund.

‘True energy impact’: Di Pilla defies gloom, appoints Gillard to $2b fund

The ASX-listed HMC Capital is banking on plenty of investor interest to defy a gloomy market outlook on the transition to clean energy for its latest vehicle.

  • Ben Potter
Jim Chalmers has flagged a pre-election budget pivot from curbing inflation to shoring up growth.

‘Made in Australia’ risks higher interest rates and a poorer future

The old rules of economics still apply and the consequences of Albanese’s big gamble could be widely felt.

  • John Kehoe
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Ben Potter, Jacob Greber on The Fin.

Nuclear power: Could we? Should we?

This week on The Fin podcast: Ben Potter and Jacob Greber on Dutton’s atomic bet, the economics of nuclear energy and whether the AI revolution changes the debate.

Why AGL’s staff are happier after a major plant closure

AGL will use the Liddell decommissioning as a blueprint for plant shutdowns, after it managed to move 100 per cent of workers into new roles.

  • Agnes King

April

Woodside chairman Richard Goyder.

Woodside and the new climate activists

Energy companies work in a twilight industry where demand still endures. They don’t know the answers to the questions investor activists are asking.

  • Matthew Warren
Australia can have a net-zero electricity system that is both affordable and reliable.

Post-coal power choice is renationalisation or redesigning the market

An integrated net-zero electricity system depends on governments restoring faith in the market delivering enough power to the right places at the right time.

  • Tony Wood
Woodside chairman Richard Goyder.

Woodside looks inward after climate gambit defeated

The oil and gas producer felt the force of big super and green investors when it took a transition plan to shareholders. Now it has no choice but to do better on emissions.

  • Anthony Macdonald
BHP made a $60b scrip bid for Anglo American.

BHP lobs $60b copper play for Anglo American

BHP is making a $60 billion bet on copper demand growing exponentially in the global shift away from fossil fuels, with a bold takeover bid for British resources heavyweight Anglo American.

  • Updated
  • Brad Thompson

Voting down Woodside’s climate plan a shareholder activism milestone

This is a pivotal moment for other climate-science-denying board directors, a signal to act on their fiduciary duties, or suffer the consequences personally.

  • Tim Buckley and Annemarie Jonson
The International Energy Agency sees electric vehicle sales growing strongly this year.

Electric vehicle sales set to surge, IEA predicts

EV numbers will be strong this year and Chinese carmakers will increase their dominance, the International Energy Agency predicts.

  • Hans van Leeuwen
Qantas and Airbus have committed to investing $300 million to accelerate the establishment of a SAF industry in Australia.

Green fuels are not the future – they’re just about here

Porsche-backed HIF Global wants to build a plant in Tasmania. Others are eyeing Townsville. But they need the government to push customers their way.

  • Angela Macdonald-Smith
Under pressure… Woodside chairman Richard Goyder.

British shareholder LGIM piles more climate pressure on Woodside

The $2.3 trillion asset manager will vote against not only the gas giant’s climate plan but also against chairman Richard Goyder’s re-election.

  • Hans van Leeuwen
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Qantas is already sourcing sustainable aviation fuel, but wants more action taken to produce it locally.

Sustainable aviation fuel has been a talkfest for far too long

For a government that has flagged its commitment, there is surprisingly little policy. Australia still produces no SAF – and has no fully funded projects.

  • Ayesha de Kretser
New York-based David Collard had hoped to buy defunct UK battery maker Britishvolt.

Blackstone move signals end of Aussie bid for UK gigafactory

The US private equity giant’s reported move on the site of a failed battery maker looks like curtains for entrepreneur David Collard’s $16 million takeover.

  • Hans van Leeuwen
Woodside’s Pluto plant at Scarborough, WA.

Woodside treads impossibly fine line on climate demands

Whether new oil and gas projects can align with the Paris Agreement is central to the oil and gas producer’s stoush with activists and some proxy advisers.

  • Updated
  • Angela Macdonald-Smith
Richard Goyder at Woodside Energy’s annual meeting last year. He faces a fight for re-election at this year’s meeting.

HESTA sides with Woodside on Goyder’s future

But the outspoken superannuation fund, which has criticised the company for not doing enough on emissions reduction, will vote against its climate strategy.

  • Kylar Loussikian
The Capacity Investment Scheme is intended to support 23 GW of renewables projects and 9 GW of storage.

Green scheme rules hang in balance as 6GW deadline nears

The details of the Capacity Investment Scheme are still being debated just weeks before the first auction for six gigawatts of wind and solar capacity.

  • Angela Macdonald-Smith