Welcome to the sixth edition of the energy briefing quarterly update!
Our last quarterly update came off the back of the federal election announcement, right in the middle of historic floods on the east coast. Three months later, and following a landmark election that clearly demonstrated the electorate's desire for action on climate, we're in the midst of another crisis: record-shattering energy prices.
This latest energy price crisis has been caused by a number of issues:
Coal-fired power plant outages, particularly in Queensland, resulting in greater demand for gas for electricity generation;
Domestic gas supply shortages, mainly in Victoria;
Global oil and gas supply constraints as Europe moves away from wanting Russian gas, which has been caused by Russia's invasion of Ukraine; and
A cold start to winter, which has further increased demand for energy, and particularly gas in Victoria, across the east cost.
And with words like “apocalyptic” being thrown about, Australia's latest energy price crisis may seem pretty overwhelming for some businesses, but it's driving home the point that smart energy management is critical to reducing businesses' exposure to volatile energy prices. This point is made explicit in this issue's Responding to the price crisis with smart energy management article.
If the energy price crisis and the cascading commitments to net zero aren't enough to make the case for investing in smart energy management, check out our new animation, which highlights how businesses can take advantage of tax incentives to boost the business case for energy upgrades.
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 a quarterly update from the Energy Efficiency Council (EEC) bringing you 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;
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; and
Don’t forget to check out all the other great resources at energybriefing.org.au.
With kind regards,
Holly Taylor
Head of Projects
Energy Efficiency Council
Responding to the price crisis with smart energy management
Energy prices in Australia are skyrocketing and smart energy management is the best way for businesses to protect their interests and bring down their energy bills.
national policy update
The federal election held in May 2022 saw an unprecedented number of candidates elected to the House of Representatives from outside the major parties. Many of these candidates campaigned strongly on increasing the ambition of Australia’s climate commitments – in particular, lifting the level of the 2030 target for emissions reductions.
Read on for updates on energy policies from the newly elected government.
national energy markets update
Electricity prices in the National Electricity Market are nearly four times higher than the start of this year. While periods of volatility and tight balances between supply and demand have been seen before in Australian energy markets, the scale of the price increases in electricity and gas is unprecedented.
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 business from government.
Check out our new animation, which highlights how businesses can take advantage of tax incentives to boost the business case for energy upgrades.
More detail is available in the Leveraging tax incentives to improve energy performance guide, and in Business Australia's recording of a studio-recorded event on the topic.
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 sixth 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 the NSW Office of Energy and Climate Change.
To learn more visit energybriefing.org.au.