Albanese government’s energy bill passes Senate

The Albanese government’s legislation capping gas prices and funding consumer rebates to deliver power price relief has passed the Senate, despite the Coalition voting against the proposal during a special sitting of federal parliament. Greenpeace welcomes the energy reforms as a breath of fresh air after years of choking on gas.

Today, the backlash of this positive news is coming from the fossil fuel companies with Santos boss Kevin Gallagher calling the plan a “Soviet-style” policy in an interview with the Australian newspaper. But that same company, Santos again, has been accused of misleading investors after a $4.7bn offshore project’s progress was torpedoed by a historic Federal Court decision. The Environment Centre Northern Territory has lodged a formal complaint against Santos for potentially misleading statements over its Barossa Gas project, off the Tiwi Islands.

In other good news today, electricity generated by burning native forest wood waste will no longer be allowed to be classified as renewable energy under a regulatory change adopted by the Albanese government. The decision, which Labor had promised to consider after it was recommended by a Senate committee in September, reverses a 2015 Abbott government move which allowed burning native forest timber to be counted alongside solar and wind energy towards the national renewable energy target.

Albanese government’s energy bill passes Senate as Dutton warns price caps will be ‘catastrophic’ for economy
The Albanese government’s legislation capping gas prices and funding consumer rebates to deliver power price relief has passed the Senate, despite the Coalition voting against the proposal during a special sitting of federal parliament. Anthony Albanese declared himself “stunned” after the opposition leader Peter Dutton resolved to oppose the package unless the government was prepared to split the legislation to separate the gas price cap from financial help for households.

Santos seeks project guarantees under ‘Soviet-style’ gas policy
One of the country’s biggest gas producers, Santos, says Labor’s “Soviet-style” gas policy means companies will require the government to guarantee fiscal terms for new projects – including Narrabri in NSW – just as happens in countries such as Nigeria.

Electricity generated by burning native Australian timber no longer classified as renewable energy
Electricity generated by burning native forest wood waste will no longer be allowed to be classified as renewable energy under a regulatory change adopted by the Albanese government. The decision, which Labor had promised to consider after it was recommended by a Senate committee in September, reverses a 2015 Abbott government move which allowed burning native forest timber to be counted alongside solar and wind energy towards the national renewable energy target.

Experts call for minimum standards in electrification package
Experts have called on the federal government to apply minimum standards to rental homes in a bid to drive electrification, after the Labor government announced next year’s budget would include a package aimed improving energy efficiency in low-income households. To win support for its gas intervention bill, Labor promised the Greens that the 2023 federal budget will include a “meaningful and substantial package” to subsidise low-income households to move away from gas and electrify their homes.

Cannon-Brookes’ siege of AGL accelerated energy shift
Mike Cannon-Brookes’ epic siege of AGL Energy – culminating in a virtual board takeover – makes him one of The Australian Financial Review Business People of the Year.

Santos accused of misleading investors after $4.7bn offshore gas project delayed by historic Tiwi Federal court action
A major gas company has been accused of misleading investors after a $4.7bn offshore project’s progress was torpedoed by an historic Federal Court decision. The Environment Centre Northern Territory has lodged a formal complaint against Santos for potentially misleading statements over its Barossa Gas project, off the Tiwi Islands.

Feral deer will become Australia’s ‘next rabbit plague’ without a containment zone
Populations of feral deer have increased tenfold in the past two decades with numbers now too high to be managed by recreational hunting or other recent control measures.