Welcome to the latest edition of the energy briefing quarterly update!
Last week the Australian Government passed the Climate Change Bill, meaning that Australia’s emissions reductions targets are now enshrined in law. The Bill signals that all parts of the economy must start setting plans to reduce emissions – including small and medium businesses.
And with 80 per cent of Australia’s emissions attributable to energy, energy management is the first – and best! – place businesses should look to drive down their own emissions.
As we cover in our feature article, with the announcement of an additional $200 million from the CEFC and ANZ in the form of discounted loans to SMEs for energy efficiency projects, and the Government’s temporary full expensing tax incentive for depreciating assets only available until 30 June 2023, now is the moment for businesses to invest in energy upgrades.
Though prices have started to come down from their June and July peaks, average electricity prices still remain higher than any period prior to Q2 2022. Gas prices are still elevated due to geopolitical tensions internationally – but have also eased since the highs of the second quarter. To get your head around Australia’s energy markets, we’ve distilled the trends transforming the electricity market in our new animation.
If you’re not yet familiar with this newsletter for businesses looking to manage the risks – and capture the opportunities – of Australia’s energy transition and net zero transformation, it is released quarterly by the Energy Efficiency Council (EEC) to provide practical, up-to-date information on grant opportunities, energy markets and energy policy.
We want to support as many businesses as possible, so please share this email far and wide. Any business can subscribe to receive future updates for free by clicking here, and if you think your industry or professional association would like to share some or all of this content with members, please reach out to us directly.
Don’t forget to check out all the other great resources at energybriefing.org.au and follow @_energybriefing on Twitter for timely updates.
With kind regards,
Holly Taylor
Head of Projects
Energy Efficiency Council
CEFC and ANZ loan discounts for SMEs support the business case for energy management upgrades
Between loan discounts of up to 0.5 per cent for energy upgrades from the CEFC and ANZ, and instant tax deductions for energy-using assets, the time is ripe for businesses to invest in energy management.
national policy update
The passing of the Climate Change Bill demonstrates the Commonwealth Government’s intention to take climate change seriously and provide clear signals for businesses to make the investments needed to achieve a net zero economy.
Read on to learn about this Bill and other policies and programs that may impact your business.
national energy markets update
Energy prices have eased, but they still remain higher than what they were at the start of the year, and are forecasted to stay there.
Read on to learn more about the trends in energy markets across Australia.
grants and incentives - what’s new and what’s closing soon?
Browse the latest grants and other support available to businesses from government.
Check out our latest animation, walking us through Australia's energy market transformation.
Resources
There is a wealth of resources available on energybriefing.org.au for businesses, including the most recent version of the briefing for Australian businesses, sector spotlights and energy 101s, as well as other relevant resources from the Energy Efficiency Council and leading industry partners.
This is the seventh edition of the energy briefing quarterly update. Previous editions are available at energybriefing.org.au/quarterly-updates
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About Navigating a dynamic energy landscape
There is an enormous amount of information on energy in the public domain, yet it can be hard for business leaders to extract what matters for their businesses.
Navigating a dynamic energy landscape: a briefing for Australian businesses is an executive-level briefing designed to cut through the noise and help businesses confidently navigate Australia’s dynamic energy landscape.
The sector spotlights and other resources that accompany the briefing exist to support this aim.
This initiative is delivered by the Energy Efficiency Council with the support of industry and government.