Archived News for Energy Sector Professionals - June, 2012
Yanzhou Coal backed Yancoal has listed on the Australian Stock Exchange (ASX) following the successful merging with Gloucester Coal and specific assets of the previously unlisted portfolio of Yancoal Australia. The company is one of the largest pure-play coal companies in the country.
The merger creats one of Australia’s largest listed mining companies, with operational mines in New south Wales and Queensland and with significant investments in two coal export terminals at Wiggins Island in Gladstone.
Yancoal purchased its first Australian mine in 2004. This was followed by a series of other mine purchases and significant expansion from 2006.
Renewable Energy Agency appointments announced
The Minister for Resources and Energy, Martin Ferguson has announced the final board appointments and the chief executive officer to the Australian Renewable Energy Agency (ARENA).
AWU hails Bell Bay agreement
The Australian Workers’ Union (AWU) has welcomed an new power agreement between Pacific Aluminium and the Tasmania Government that will secure the future of the company’s Bell Bay aluminium smelter.
Resources and energy exports to hit record levels
Australia’s resources and energy commodity export earnings are forecast to reach a record $209 billion in 2012–13, according to the Resources and Energy Quarterly—June quarter 2012, released by the Bureau of Resources and Energy Economics (BREE).
Government to fund renewables program
The Federal Government has announced a $900,000 grant to the University of Melbourne to conduct a $1.2 million study Achieving Cost-effective Abatement from Australian Electricity Generation.
Verve gas turbines come online
Western Australia’s Verve Energy’s new $300 million gas turbines have come online at the company’s Kwinana Power Station.
Queensland caps Solar Bonus Scheme
The Queensland Government has announced it has capped the state’s Solar Bonus Scheme at $54 per year. Effective from 9 July, the scheme will be amended for new applications, with a review taking place into the altered costings.
Queensland axes Solar Hot Water Rebate
The Queensland Government has announced an immediate halt to the Solar Hot Ware Rebate program, saying the move will save the state an estimated $10 million in savings.
Research model to simulate renewable energy demand
The University of Melbourne has been awarded more than $900,000 in Federal funding to develop Australia’s first open source renewable energy model, Minister for Resources and Energy Martin Ferguson announced this week.
Tasmania releases carbon tax impact modeling
The Tasmanian Economic Regulator has released its most recent modeling that indicates that household electricity prices for 2012-13 will rise by less than expected as a result of the Federal Government’s carbon tax.
Queensland releases gas market review for consultation
The Queensland Government has released a draft of the Queensland Gas Market Review, prepared by the state's Gas Market Advisor, for public consultation.
Senate inquiry into Clean Energy Finance Corporation Bill
The Senate Economics Legislation Committee has a new inquiry into the Clean Energy Finance Corporation Bill 2012.
Government announces gas industry carbon price transition arrangement
The Federal Government has announced transitional arrangements for the liquefied petroleum gas (LPG) and liquefied natural gas (LNG) industries when the carbon price is applied to the non-transport use of these fuels in 2012-13.
Funding boosted for Sydney trigeneration project
The Federal Government has increased its support for the City of Sydney's plans to roll out Australia's first large-scale trigeneration energy network.
Queensland appoints GasFields Commissioenrs
Mr Seeney said Chairman Cotter would bring the group together in July to review the 55 public submissions and provide feedback on how the Gasfields Commission should operate.
“This input from the GasFields Commission will shape the legislation which will be introduced in Parliament later this year,” he said.
New bilateral agreement over Alpha coal mine
The Federal and Queensland Governments have struck a new bilateral agreement over the disputed Alpha Coal mine project, agreeing to 'significant' changes to pre-existing environmental approvals for major projects.
Study reveals impact of solar intermittency on electricity systems
In a year-long study funded by the Australian Solar Institute, CSIRO, together with the Australian Energy Market Operator and the Energy Networks Association have investigated the concerns around solar intermittency and its impact on electricity systems.
Eureka deal inches closer
Aurora Oil & Gas’s takeover bid of Eureka Energy is inching closer to reality after estimates show that Aurora already owns some 33 per cent of the company.
Victoria to defer national Energy Retail Law
The Victorian Government has announced it will defer the transition to the National Energy Retail Law in a bid to safeguard the state’s consumer protection laws.
ABS releases exploration data
The Australian Bureau of Statistics (ABS) has released the March quarter’s Mineral and Petroleum Exploration findings, showing that the sector is continuing to display healthy growth.
Electricity prices set to soar
The independent Pricing and Regulatory Tribunal (IPART) of New South Wales has handed down its final determination on the average prices that electricity retailers in the state can charge, authorising an average 18 per cent increase across the state.