---
title: Energy market reopens but damage of greedy coal and gas companies is clear
description: With AEMO's intervention in Australia's east coast energy market ending overnight, experts warn of further turbulence.
---
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[](https://blog.greenpeace.org.au/the-canopy)
The Canopy is a weekday morning email newsletter provided by the team at Greenpeace Australia Pacific.
# Energy market reopens but damage of greedy coal and gas companies is clear
Thursday, 23 June 2022
With AEMO's intervention in Australia's east coast energy market ending overnight, experts warn of further turbulence as more retailers decline new customers and others are forced out of the industry - a damning indictment of the greed of coal and gas companies hurting Australians and the country's energy transition.
Energy minister Chris Bowen is pressing ahead with the proposed new capacity mechanism as the market reopens but fears remain over the policy being a dressed up ‘coal keeper’.
And the federal government is considering signing up to the global pledge to limit methane emissions by 30 per cent from 2020 levels by 2030, but resources minister Madeleine King used the announcement to continue shilling gas as the ‘only’ pathway from coal to renewables.
[More electricity retailers will likely fail over the next year, resulting in less competition and higher prices](https://www.theguardian.com/australia-news/2022/jun/23/more-electricity-retailers-will-likely-fail-over-the-next-year-resulting-in-less-competition-and-higher-prices)
Between five and 10 providers could go out of business in the next six months alone, researcher David Hiley says.
[Bowen presses ahead with capacity mechanism, plays down ‘coal keeper’ fears](https://reneweconomy.com.au/bowen-presses-ahead-with-capacity-mechanism-plays-down-coal-keeper-fears/)
Federal energy minister Chris Bowen wants to press ahead with the introduction of a new capacity mechanism, and is seeking to allay fears it would delay the transition to renewables.
[Albanese government may join US push to cut global methane emissions by 30%](https://www.theguardian.com/environment/2022/jun/23/albanese-government-may-join-us-push-to-cut-global-methane-emissions-by-30)
The Albanese government could sign up to Joe Biden’s push to limit global methane emissions by 30% from 2020 levels by the end of the decade.
[Enova: How Australia’s best green retailer became victim of fossil fuel energy war](https://reneweconomy.com.au/enova-how-australias-best-green-retailer-became-victim-of-fossil-fuel-energy-war/)
Enova has called in voluntary administrators because it could no longer survive in a market deliberately designed to protect the huge fossil fuel incumbents.
[Mark McGowan sets ‘ambitious’ greenhouse gas emissions target in bid to reach goal of net zero by 2050](https://app.meltwater.com/mwTransition?url=https%3A%2F%2Fwww.broomead.com.au%2Fnews%2Fclimate-change%2Fmark-mcgowan-sets-ambitious-greenhouse-gas-emissions-target-in-bid-to-reach-goal-of-net-zero-by-2050-c-7257857&urlCategories=wan&analytics=false&documentId=dyNiMSuLnQiUjmuH1a0ZbSOty6g&transitionToken=eyJ0eXAiOiJKV1QiLCJhbGciOiJIUzUxMiJ9.eyJob3N0bmFtZSI6Ind3dy5icm9vbWVhZC5jb20uYXUifQ.NF_bjhSLdKxYJEdwF8IWhDFraekcvgd-V_r2PbsN_I2h0QAVzFfyBEjbLSb30NSBJmUg9cXVc7g2_CuaxGRKHQ)
All state government agencies will be required to reduce their greenhouse gas emissions to 80 per cent below 2020 levels by 2030 under a policy to be released on Thursday.
[While Coalition reheats its climate mess, Albanese government locks in Australia’s 43% emissions cut](https://www.theguardian.com/environment/2022/jun/23/while-coalition-reheats-its-climate-mess-albanese-government-locks-in-australias-43-emissions-cut)
Coalition MPs are in the middle of a post-defeat debate over climate targets, but there appears to be a large Paris-shaped blind spot in their current commentary.
[Coal](https://blog.greenpeace.org.au/the-canopy/tag/coal), [gas](https://blog.greenpeace.org.au/the-canopy/tag/gas), [energy policy](https://blog.greenpeace.org.au/the-canopy/tag/energy-policy), [climate change](https://blog.greenpeace.org.au/the-canopy/tag/climate-change)
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