With skyrocketing power prices, closing coal plants and a lack of anything resembling even a possibility of bipartisan policy, the Australian energy sector is currently fraught with uncertainty. The sector’s contribution to global climate change, the impact of new technologies and a shift in consumer behaviours and choices are but a few of the issues compounding the debate. Fast forward another 40 years or so, and we’ll also have to consider Australia being home to 40 million residents.
Facing an industry trilemma of system security, price volatility and emissions, do we have more in common with ‘mission impossible’ than we’d care to admit?
To find out, we asked over 100 Australian business executives from the Energy industry and Government the question: “If you were Australia’s Chief Scientist, Dr. Alan Finkel AO, how would you shape Australia’s energy future?”
Overwhelmingly, and not surprisingly, most respondents voiced dissatisfaction. At the same time, however, respondents also issued a clear call to action: “The future of energy is up for design.”
In short, here’s what they said:
62% of respondents selected a combination of reliability improvements, cost and emissions reductions that we believe we technically cannot meet.
63% want some or significant improvement in reliability.
52% believe we have to exceed the current emissions reduction pledge by the Government.
46% believe we have to reduce prices.
Read more about what our respondents had to say and our take on the scenario.