August 2017

30 Aug Energy Retailers and Prime Minister meet again

The large electricity retailers have followed up on their previous meeting earlier this month in Canberra, meeting with Prime Minister Malcolm Turnbull in Sydney today. The topic of discussion was in regard to retailers contacting their existing customers who are on high standing electricity rates and informing them of more competitive deals available to them. The retailers agreed to the PM’s request to make contact with their customers on high standard rates and will be writing to over 2 million customers. This is one of the measures taken by the Turnbull government to reduce energy costs for Australian households. It was noted that the energy retailers stressed to Mr Turnbull the...

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23 Aug Victoria announce 650 MW reverse auction and Queensland launch “Renewables 400”

Earlier today the Victorian Premier Daniel Andrews and the Minister for Energy, Environment and Climate Change Lily D’Ambrosio announced the introduction of legislation for Victorian Renewable Energy Targets (VRET); the largest renewable energy auction in Australia. The ministers also announced the award of contracts for two large scale solar plants to supply energy to Melbourne’s tram network. Daniel Andrews announced that the Victorian Government would conduct a reverse auction for 650 MW of renewable capacity. Details of when the auction would be taking place were not provided. This move by the Victorian Premier will help towards achieving the states renewable energy target of 25% by 2020 and 40% by 2025. Earlier this...

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15 Aug 150 MW Solar Thermal Plant to be constructed in South Australia

On Monday 14 August South Australian Premier Jay Weatherill announced that Solar Reserve had won a 20 year electricity supply agreement with the South Australian government. The agreement is reported to account for 75% of the SA Governments electricity requirement. The 150 MW solar thermal plant has been named Aurora and will be constructed just north of Port Augusta. The plant is a critical piece of infrastructure which will help mitigate volatile electricity prices in SA. The plant provides synchronous renewable energy that can be dispatched when there is no sunlight or wind available. According to Aurora the plant will have 8 hours of full load storage. It is reported that the...

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14 Aug CS Energy and Alinta team up to provide lower prices for residential customers

The Queensland Government has announced CS Energy; which is wholly owned by the Queensland State Government, will form a 50/50 partnership with the privately owned Alinta Energy. The newly formed company would provide discounted electricity prices to residential customers and small businesses in South East Queensland. The new company would offer a 2-year electricity contract with a headline 25% discount of usage charges. This offer is currently marketed on Alinta’s website as a Home SaverPlus. The Queensland Government is urging other retailers to offer similar discounts and has encouraged them to approach the government owned corporations to strike similar deals and pass on savings. There are currently no plans to extend this...

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09 Aug Update on Prime Minister meeting electricity retailers in Canberra

Today (Wednesday 9 August) Prime Minister Malcolm Turnbull, Treasurer Scott Morrison and Energy Minister Josh Frydenberg met with Australia’s largest energy retailers and Matthew Warren of the Australian Energy Council in Canberra to discuss options that will mitigate the rising cost of energy for Australian consumers. The meeting appears to have been successful with energy retailers agreeing to contact customers on a discount rate and provide details of alternative offers prior to the expiry of the agreement. The correspondence is to be in plain English and provide facts that can be understood by normal customers. In addition to this retailers will need to direct customers to the price comparison website managed...

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09 Aug Prime Minister summons electricity retailers to Canberra for summit

Today (Wednesday 9 August) Prime Minister Malcolm Turnbull, Treasurer Scott Morrison and Energy Minister Josh Frydenberg will meet with Australia’s largest energy retailers and Matthew Warren of the Australian Energy Council in Canberra. The Prime Minister has requested the meeting in an attempt mitigate the rising cost of energy for Australian consumers. One of the key concerns Mr Turnbull will be discussing is the action of retailers switching consumers to more expensive tariffs without their knowledge. Whilst the ACCC is investigating competition within the electricity retail market, this report will not be finalised until next year. The Prime Minister is seeking more immediate solutions to the issue of rising electricity costs. Edge will...

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