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The New South Wales Planning and Assessment Commission (PAC) announced today that it rejected ANGLO American’s application to approve its Drayton South Coal Project.

The proposed coal mine was within the neighbourhood of the two leading horse studs in Australia: Coolmore and Godolphin (Darley). The studs had fought the development, claiming that they would be forced to leave the area if the mine proceeded. ANGLO American produced various reports from economists in support of its proposal.

Frontier (Asia-Pacific) advised the lawyers for the studs, examining the economic case for the mine.

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The latest bulletin from Frontier Economics (Asia-Pacific), Easy Target, looks at the contribution of renewable energy in achieving Australia’s emissions target.

Energy policy, particularly in the area of renewable energy sources, has been something of a football game in Australian politics, albeit with alternating positions, abrupt changes of tactics, and moving goalposts. State and Federal governments have not had a cohesive strategy in this regard. Despite this, it appears that Australia will be on track to meet the emissions target set out in the Paris Agreement, due to the increasing use of renewable energy by the states.

Easy Target examines how this will occur and suggests that the federal government ought to develop an integrated energy policy and revisit the idea of an emissions intensity scheme.

Danny Price, managing director of Frontier, was interviewed by the ABC’s national AM radio show, regarding this bulletin.

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Renewables Contribution to Emissions Target

In-house modelling undertaken by Frontier Economics (Asia-Pacific) projects that Australia will comfortably meet its 2030 28% emissions target for the electricity sector due to existing and announced policies supporting energy efficiency, renewables and closures of high emissions coal plants. The Commonwealth Government will receive credit for State renewable policies that contribute to meeting the 2030 emissions target, while admonishing them for any energy security issues that may result.

An urgent priority for climate policy in electricity is how to ensure energy security in a market increasingly dominated by intermittent renewable generators. This urgency should be evident in recent electricity market events and this is why the Federal Government should reconsider its position on an Emissions Intensity Scheme. This scheme will provide greater certainty for investors in existing and new thermal generators that must play a vital role in managing the transition of the power sector.DOWNLOAD FULL PUBLICATION