Climate Change Minister Chris Bowen and Prime Minister Anthony Albanese have promoted Australia’s renewable energy transition on the international stage, even as a new report warned that constrained supply could push up power prices domestically.
On Wednesday, Bowen appeared alongside Albanese at the United Nations COP31 climate conference in Antalya, Turkey, which is being held from November 9 to 20.
After avoiding Australian media throughout the day, Bowen spoke with British CNN journalist Becky Anderson and highlighted Labor’s plans to move the country away from fossil fuels.
‘There will be no new coal-fired power stations in Australia,’ he said.
Anderson later challenged Bowen over a potential conflict of interest in his role as co-president of COP31 while Australia remains one of the world’s leading exporters of coal used overseas.
Australia was the world’s second-largest thermal coal exporter last year, behind only Indonesia, and ranked first globally for metallurgical coal exports.
‘Generally, yes—we’re a coal-mining country. There are many countries that depend on our coal, both metallurgical and thermal,’ he said.
The interview took place as energy consultant Rystad Energy warned that Australia’s shift to renewables could send wholesale electricity prices close to double their current level by 2029.
At COP31, Climate Change Minister Chris Bowen told CNN there would be no new coal-fired power stations in Australia, but did not mention the country’s status as one of the world’s biggest coal exporters
Australia does not plan to replace its aging coal-fired power stations. Yallourn Power Station in Victoria is due to close in 2028
During the CNN interview, Bowen championed Labor’s target of generating 82 per cent of Australia’s electricity from renewable sources by 2030 and urged other countries to pursue a similar path.
‘We need to send a clear message to boardrooms around the world to keep investing, because governments will continue on this journey,’ he said.
‘We also need to send that message because domestic politics in almost every country includes people who deny or delay action.’
Bowen said he was confident Australia would meet its renewable energy target.
‘So, 82 per cent by 2030 is very ambitious from our point of view, rising from 33 per cent in 2022.
‘That is a significant increase. Some people in Australia say it cannot be done, but I believe we can get there.’
Earlier on Wednesday, Bowen repeatedly avoided questions from journalist Sophie Elsworth about the findings of the Rystad report.
His brief response was: ‘Engagement on matters of climate change is very important. Thank you.’
Rystad Energy forecast on Wednesday that wholesale electricity prices could nearly double by 2029 as government support for coal power is withdrawn faster than replacement renewable capacity is delivered
Rystad said wholesale power prices were likely to rise because Labor was scaling back support for coal generation more quickly than it was financing replacement renewable projects.
The consultancy forecast that wholesale prices could climb from about $60 per megawatt hour to $110 as available supply tightened.
It said household electricity bills would not necessarily double, because wholesale power is only one component of the final bill. Network charges, retailer costs and other expenses also contribute.
However, if wholesale prices rise as forecast, households are likely to absorb at least part of the additional cost in the years ahead.
In his COP31 address, Albanese responded to concerns about supply by pointing to the rapid growth of rooftop solar.
‘In just six years,’ he said, ‘Australia has doubled its renewable generation, which now supplies half of our electricity mix.
‘We are proud to have one of the world’s largest rooftop solar and battery markets.
‘More than 600,000 home batteries were installed in the past year alone—an extraordinary achievement for a nation of just 28 million people.’
Prime Minister Anthony Albanese is welcomed after arriving at Antalya airport
Albanese told the conference that Australia had doubled renewable generation in six years
Scientists say global temperatures are likely to rise more than 1.5C above pre-industrial levels.
The 1.5C threshold was established as a key goal under the 2015 Paris Agreement and remains central to international climate negotiations.
Leaders from several of the world’s biggest polluting nations—including the United States, China and India—did not attend COP31.
UN Secretary-General António Guterres used his opening speech to call on the leaders present to take stronger action on climate change.
‘Climate action is about far more than debating a number or watching a thermometer. We are fighting for our lives and for the future of our children,’ he said.
Guterres set out four priorities for the negotiations: ending dependence on fossil fuels, adapting to a warmer planet, increasing financial assistance from wealthy nations to countries facing climate impacts, and choosing international co-operation over conflict.
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