The Finkel Review At A Glance

The Conversation - Madeleine De Gabriele | Michael Hopkin | Wes Mountain

The Finkel review aims to introduce certainty into Australia’s energy market. Reuters/Tim Wimborne

The long-awaited report from Chief Scientist Alan Finkel into Australia’s National Electricity Market was released today.
The key recommendation is the adoption of a Clean Energy Target. This mandates that energy retailers provide a certain amount of their electricity from “low-emissions” generators – sources that produce emissions below a threshold level of carbon dioxide per megawatt.
Crucially, Dr Finkel has not made a recommendation as to the precise threshold or the number of certificates to be issued, saying:

The Panel acknowledges that the specific emissions reduction trajectory that should be set for the electricity sector is a question for governments.
At a minimum, the electricity sector should have a trajectory consistent with a direct application of the national target of 26-28% reduction on 2005 levels by 2030, as per Australia’s international obligations under the Paris Agreement.

The Finkel Review at a glance

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Links

• Independent Review into the Future Security of the National Electricity Market
• Blueprint for the future: Independent Review into the Future Security of the National Electricity Market
• Media Release: Blueprint for a world-class electricity system
• Australia can’t lose in the global race for cheaper, cleaner energy
• Turnbull’s energy game-changer
• Explainer: what is a ‘low emissions target’ and how would it work?
• Australia’s biggest emitters opt to ‘wait and see’ over Emissions Reduction Fund