CEFC changes step in right direction towards fixing energy crisis

/CEFC changes step in right direction towards fixing energy crisis
CEFC changes step in right direction towards fixing energy crisis 2017-06-13T16:04:22+00:00

Tuesday 30 May, 2017

The Turnbull Government’s proposed amendments to the Clean Energy Finance Corporation (CEFC) to allow research into carbon capture and storage (CCS) are a step in the right direction to finding workable solutions to the current energy crisis, the Australian Power Project said today.

CEO Nathan Vass said that up until now the national energy debate had been dominated by far-left or far-right views while sensible solutions like CCS have been ignored.

“CCS technology can help deliver electricity for families and businesses that is cheap, reliable and reduces emissions by 90 percent,” Mr Vass said.

“This is a good first step towards the Turnbull Government’s stated goal of being technologically agnostic when it comes to finding solutions to the current energy crisis.

“Commercially successful coal-fired plants in China, India, Canada, South Korea and the US are using either CCS or high efficiency low emission technologies to reduce CO2 emissions by up to 90 percent.

“Australia has been left behind by other first world nations in using this kind of technology, which can deliver cheap and reliable electricity while at the same time helping to meet our commitments under the Paris Agreement.”

Mr Vass said it is clear that clean coal technology offers Australia the sensible middle path to a clean energy future in line with the three big objectives of a national energy policy that delivers security, affordability and lower carbon emissions.

“While far-left activist groups will no doubt criticise the Turnbull Government over these amendments, an over-reliance on renewable energy in states such as South Australia has compromised energy security and delivered the highest power prices in the country.”

Geoscience Australia, an official government adviser, has called CCS “one of the most important tools Australia has to reduce our nation’s greenhouse gas emissions”, while the International Energy Agency says “following the ratification of the Paris Agreement, the ability of CCS to reduce emissions from fossil fuel use in power generation — including from existing facilities — will be crucial to limiting future temperature increases”.

ENDS

​Nathan Vass is a former energy and resources executive who created the Australian Power Project to promote sustainable national energy policy.