Hence the scramble to ensure sufficient RE is available "to ensure energy stability". Do companies forced to pay the shortfall charge mentioned above solely due to lack of supply have any legal recourse to the Commonwealth, given it has created this new class of RE property rights?
The Federal Energy Minister, Josh Frydenberg, mentioned last weekend (here) changing existing regulations to permit the Clean Energy Finance Corporation (CEFC) to fund construction of new - rebadged RE - high-efficiency, low-emission coal-fired power plants – presumably instead of more windmills.
We're going to look at all our options because of the challenges that we face, namely to ensure energy security [and] energy affordability, as we transition to a low-emissions future. We're looking at all our options because we're intent on stabilising the system. Right now we need more baseload power.
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Full speed ahead, then, to the promised land of "climate stability" – or bust.
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About the Author
Michael Kile is author of No Room at Nature's Mighty Feast: Reflections on the Growth of Humankind. He has an MSc degree from Imperial College of Science and Technology, University of London and a Diploma from the College. He also has a BSc (Hons) degree in geology and geophysics from the University of Tasmania and a BA from the University of Western Australia. He is co-author of a recent paper on ancient Mesoamerica, Re-interpreting Codex Cihuacoatl: New Evidence for Climate Change Mitigation by Human Sacrifice, and author of The Aztec solution to climate change.
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