Each fortnight, the team at ELS publish a news digest covering energy and sustainability. We read for our own pleasure but to save you time we identify a handful of pertinent articles from Australia and around the globe and add our own commentary. It used to be an internal memo but we kept being asked to share it, so here it is. It’s been a bit over a fortnight since our last update but these articles are sure to get you back in the swing!
This fortnight was full of some great energy highs, with a landmark acquisition, the grid reaching 50% renewables for the first time ever and yet another industry looking towards a zero-carbon future. We’re also looking beyond Australia, with a few interesting pieces of news from our friends in New Zealand and Germany.
Shell to enter Australian electricity market as ERM shareholders agree to sell
This one is from a few weeks ago but definitely deserves a look. Back in August, ERM Power received a takeover offer from Shell worth AU$617 million and shareholders have now agreed to sell. ERM is one of Australia’s top five largest electricity retailers and sell solely to commercial and industrial customers. This shows a substantial move by the global energy giant, expanding out to electricity from its traditional business in the gas and oil sectors, and follows on from its acquisition of German battery manufacturer Sonnen earlier this year. With the deal adding significantly to founder and coal-baron Trevor St Baker’s net worth, it will be interesting to see what develops from here.
Australia’s main grid reaches 50 per cent renewables for first time
In a win for renewables, mark Wednesday 6 November in your calendars as the day that the Australian grid reached 50% renewables for the first time! The milestone was reached at 11:50am, when rooftop solar, large-scale wind, large-scale solar and hydro combined forces to provide 50.2% of the 25GW produced in the NEM. The largest percentage was from roof-top solar, continuing a trend of renewables ‘taking bites out of the share of coal-fired generation’ and contributing to the record highs in negative pricing events across South Australia and Queensland.
Formula One aims for zero carbon footprint by 2030
In our last two updates we’ve seen companies announcing commitments to reduce their carbon footprint. This week, Formula One is leading the race and has pledged to achieve a net-zero carbon footprint across all operations by 2030. F1 CEO Chase Carey envisages this shift will come from low carbon racing technology innovations within the industry as well as various opportunities for sustainability across logistics, offices and events.
New Zealand passes historic zero carbon bill with near unanimous bipartisan support
Moving overseas, last week our friends in New Zealand passed a zero carbon bill, cementing their commitments to the Paris Agreement. This puts them among only a handful of countries to have enshrined their Paris commitments in law and the bill will see them ensuring energy policy decisions drive the country in a direction consistent with limiting warming to 1.5 degrees. Let’s hope this same bold thinking makes its way across the ‘ditch’ and Australian policy direction follows suit.
Another nail in coal’s coffin? German steel furnace runs on renewable hydrogen in world first
In our last ELS update, Mike told us to keep an eye on the hydrogen space, so here’s a world-first for you! Renewable hydrogen has traditionally been pegged as a low-emissions fuel for the transportation industry, but German manufacturing giant Thyssenkrupp has set a new precedent with a hydrogen powered steel furnace. As an industry, steel works are highly dependent on coal power, so this development is really exciting and may fuel yet another industry shift to come.