Energy common sense... at last!

It has not yet been officially released but the media have already jumped the gun, heralding the new LNP energy policy (see "Power ‘guarantee’ to fix crisis" , "Malcolm Turnbull's new energy policy aims to cut costs and mandate minimum 'reliable' coal, gas production"

Despite the predictable bias in these reports, the policy sounds good to me! I guess it should, since I touted a similar proposition in an my post titled "Baseload Equivalence Test".

Under the plan, energy retailers will be required to buy a minimum amount of baseload power from coal, gas or hydro for every megawatt of renewable energy,  and the RET will not be renewed after its expiry in 2020.

Here is a summary of the state of play (courtesy The Australian ); -

• Energy retailers will be forced to buy a minimum amount of baseload power from coal, gas or hydro for every megawatt of renewable energy
• No taxpayer subsidies for renewable energy from 2020
• No clean energy target
• A reliability guarantee and a separate emissions guarantee that will force retailers to buy a minimum amount of dispatchable power to reliably deliver baseload supply
• A 0.2 per cent reliability regulation on retailers to inoculate the system from blackouts and give a lifeline to coal power.
• Estimated to cut retail energy bills of between $100 and $115 a year.

These sound like sensible measures, nevertheless they will receive widespread condemnation from  climate change advocates and indeed the many vested interests who would very much like to continue their subsidies.

I am sure it will be loud and long! Hopefully the LNP will hold its ground.