extracts from clean energy future

Following are extracts from today's Clean Energy Future document released by the government.

Extracts:

The types of changes a carbon price can deliver are:
? promoting more gas-fired or renewable electricity generation
? converting coal-fired boilers to gas-fired boilers in manufacturing plants, commercial
buildings and hospitals
? making energy-efficient buildings more attractive to tenants

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Reflecting the historical availability of low-cost coal in Australia, coal-fired generation currently accounts for around 75 per cent of Australia?s electricity. However, burning coal puts large amounts of carbon pollution into the atmosphere. For every unit of electricity produced, conventional coal-fired generation releases around twice as much carbon pollution as generating electricity by burning natural gas. Yet gas-fired generation currently only accounts for around 16 per cent of Australia?s electricity. Generating electricity from renewable resources like wind or solar power puts no carbon pollution into the atmosphere. Renewable electricity currently accounts for around 8 per cent of Australia?s power supplies.

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5.2 Jobs and Competitiveness Program

The Government recognises the importance of manufacturing and heavy industries that compete on international markets and use large amounts of energy or generate significant
levels of carbon pollution. The goods these industries produce will remain essential in a clean energy economy. We need steel for our buildings and rail transport. Cement slabs can make houses more energy efficient, as can glass used for double glazing. Aluminium makes lighter, more efficient products and liquefied natural gas (LNG) replaces coal in power stations in places like South Korea and China.

End

Comments:

The document severlu underplays the role natural gas will play in Australia's energy future.

Renewables will struggle to fill the void left by coal fired power stations. Gas from ESG and CSG will fill the void. ESG, Origin, AGL, Tru Energy and ERM all know this.

Billions will be wasted on failed renewable research programs administered by the most inefficient distributors of money; the government. It will pink batts scheme on cocaine and steroids.

Let's hope we get some value from these schemes. I'm almost certain gas will compliment almost all the renewable programs especially industrial energy.

A whole new bureaucracy will bloom and suck up the a significant proportion of the research money. Ten new government bodies was the Liberal count.

Households average weekly costs estimated to increase by $9.90. Average compensation will be $10.10 per week. Margin for error 2%!

Labour's BER scheme cost blowout? 20% at least.

BHP, RIO, Woodside are great companies with arguably excellent financial management. They can't get a projects to come in on budget, what chance does this government and Treasury have? Yep, zero. A 2% margin for error is laughable. Good luck to the Aussie battler.

Impact for ESG and electricity producers? More energy price control by governments? Lets hope not.

ESG is lookin' good.