Some big players have weighed in on Australia’s energy transition progress, or lack thereof. 

Head of the Australian Energy Market Operator (AEMO), Daniel Westerman, is warning that investment in new clean electricity supply is not happening quickly enough to replace closing coal power stations, while the development of the grid is lagging behind the requirements for the energy transition. 

Westerman says there is an urgent need for investments in “firming” technologies such as pumped hydro, batteries, and gas to provide backup when renewable energy is not available. 

He also highlights the need to expand storage capacity by a factor of 30 by 2050.

At the same time, Australian Energy Regulator chair Clare Savage is announcing a crackdown on billing practices to protect vulnerable customers from rising prices and a focus on bad behaviour in the wholesale electricity market. 

Savage says she is concerned about the country's ability to meet Labor's 2030 targets of 82 per cent renewable energy, as no new renewable energy projects received final investment decisions in the first quarter.

While coal plant closures are set to accelerate, consumer nervousness about rising tariffs grows. 

Wholesale prices in New South Wales increased despite sufficient capacity after AGL Energy shut down the Liddell power station. 

AEMO suggests that two-thirds of coal generation could be gone within six and a half years, more than initially anticipated.

Consumers face steep increases in electricity and gas tariffs, with some customers experiencing rises of over 80 per cent. 

These increases are due to last year's surge in wholesale electricity and gas prices, winter crises, and coal power unit outages. A cold snap in the southeast has added to concerns about prices, particularly in Victoria.

Meanwhile, the head of BP Australia, Frederic Baudry, warns that unless the government implements new policies and funding, investment worth millions of dollars could go elsewhere. 

Baudry urges the government to act quickly, stating that projects are ready to be executed, but without proper policies in place, investors will look elsewhere. 

He calls for refreshed hydrogen strategies, more funding for infrastructure in northern Australia, targeted measures for renewable fuels, and government-to-government deals with key trading partners.

Alinta Energy CEO Jeff Dimery has suggested redirecting defence spending towards accelerating the clean energy transition. 

Dimery believes that exaggerated security threats hinder global collaboration needed for successful energy transition. 

He advocates for investing in the energy revolution to save the planet and encourages collaboration between industries, governments, and customers.

Dimery says there are still major challenges of energy policy privatisation, which complicates the construction of vital transmission lines. 

He believes that changes made 20 to 25 years ago would have been different if there was foresight. 

However, Dimery says he remains optimistic, expecting the transition to speed up with the advancement of technology. He notes the importance of gas in the short term and the potential role of nuclear power in the future.