A good effort by Finkel? (reviewing Australia’s electricity market)
On the 9th of June the much anticipated Finkel report on the future stability of Australia’s National Electricity Market was released. This was an independent committee inquiry lead by Australia;s Chief Scientist, Dr Allan Finkel. (http://www.environment.gov.au/energy/national-electricity-market-review )
The Finkel report’s gestation and birth have been accompanied by very high expectations within the renewables and energy sectors as well as energy consumers and politicians. The report contains many detailed recommendations. A lot of them are concerned with regulation and the minutiae of maintaining electricity system security. These are not politically controversial, most of them seem reasonably common-sense. Arguably, the Big Ticket items are the proposal for a Clean Energy Target post 2020 and the recommendation that new renewable energy generators be subject to a reliability obligation whereby they must simultaneously bring forward a level of dispatchable capacity in proportion to their overall generation capacity.
In the last few days, the Federal government has stated that it supports 49 of the 50 recommendations, but is still considering its response to the critical one; the CET itself.