Climate Council CEO, Amanda McKenzie, has written to supporters about the release today of the Finkel Review.
|Climate Council CEO, Amanda McKenzie.|
The long awaited Finkel Review into Australia’s electricity market has launched today. And it’s a mixed bag.
“Australians across the board are desperate for a policy solution, which can address climate change and tackle emissions from our ageing, inefficient and polluting electricity sector. Ultimately, it was hoped that the Finkel Review would seriously address these issues.
“But disappointingly - the Finkel plan does not pass the climate test. Ultimately if the scheme goes ahead emission reductions must be much stronger.
“What does the Finkel Review recommend?
“The Review’s “blueprint” sets out to reduce emissions in the electricity sector - 28% emissions reduction below 2005 levels by 2030. We need to slash emissions further and faster. Other sectors such as building, agriculture and transport, will need to do more if the electricity sector does less.
“The Review also proposes introducing a Clean Energy Target between 2020 to 2030, to encourage new power plants to be built. The target would be similar to the current Renewable Energy Target, except that it would allow a broader range of power plants to qualify including renewable energy, gas, and coal with carbon capture and storage.
“Additionally, the review confirms that Australia has huge opportunities in renewable power, as renewables are now our cheapest source of new power. It also highlights the importance of coupling solar and wind with battery storage and other storage technologies.
What’s the bottom line?
“Our emissions and electricity prices are going up due to a long term vacuum in Australia's climate policy. What Finkel has proposed will need to be significantly strengthened to meet the demands of climate science.
“Want to hear more? Tune in to Q&A on Monday night where I’ll be appearing as a panelist alongside Alan Finkel, Australia’s Chief Scientist and author of the Finkel Review, and Federal Environment & Energy Minister Josh Frydenberg. It’s sure to be an interesting discussion,” she wrote,
Meanwhile, the Climate Council has produced a short video aimed as exposing the myths around gas.