The Net Zero Economy Authority bill has passed the lower house of Parliament in Australia with support of the Labor government, the Australian Greens, and “Teal” independents.
The Authority will comprise a board, CEO, and staff who will consult and work on driving public and private sector investment in the net zero transformation. The board, including the chair, will be appointed by a government minister, who will also give directions to the board.
The Authority will also support workers working in “emissions-intensive” industries to find new work, or improve their employment prospects.
The CEO board will also have the power to issue a “trigger notice” and involve the Fair Work Commission to protect workers when a coal fired or gas fired power station closes.
Assistant Minister to the Prime Minister Patrick Gorman said the legislation will help ensure generations of Australia can power the nation.
Regional MPs Say Electricity Grid At Risk
Nationals MP David Gillespie raised concerns about the law saying it could have a negative impact on the energy system, in a speech to the House of Representatives of June 3.“The latest and greatest of many that this government is introducing, trying to portray a change of our baseload energy system into a mythical, utopian green renewable based energy system,” he said of the Net Zero Economy Authority Bill 2024, and the Net Zero Economy Authority (Transitional Provisions) Bill 2024.
Mr. Gillespie said Australia’s current 25 gigawatt system will be replaced with 400 to 500 gigawatts of solar and wind generation, up to 23,000 kilometres of extra poles and wires, 58 million solar panels, and 35,000 wind turbines.
He said millions of acres of either grazing pasture or pristine bushland would need to be repurposed to support the construction of pumped hydro schemes in Queensland and New South Wales.
“We don’t mind that renewables have their place in the system, but to try and build a whole system based on weather dependent, randomly variable generators is absolute madness,” he said.
“We have already closed 7,300 megawatts of 24/7 reliable power, with the closure of many power stations. This series of bills does not deliver a just transition. It’s going to affect all of us.
Meanwhile, fellow Nationals MP Keith Pitt pointed to China’s contribution to climate emissions globally.
He added the government’s policies will put Australians out of “high-paid, highly skilled jobs” in regional areas which drive their local economies.
Mr. Pitt advocated for nuclear power, saying equipment from coal-fired power plants could be repurposed for nuclear.
$1 Billion For the Net Zero Authority
In the 2024 budget, the federal Labor government announced an extra $399.1 million (US$266.1 million) funding for the Authority (pdf).This includes $209.3 million over four years from 2024 to 2025, to expand the Authority for policy development, brokering investments for jobs in the regions, and supporting workers impacted by the transition.
A total of $134.2 million over the same timeframe will go towards support for workers and communities impacted by net zero.
Further, $44.4 million over four years will go towards an energy industry jobs plan to help employees impacted by coal and gas fired power station closures.
About $10 million will go towards a public information campaign, while $1.3 million over four years will pay for Treasury developing and publishing guidance for businesses involved in net zero.
A further $616.8 million has been allocated for the Authority between the 2029 and 2035 financial years and $93.4 million per year ongoing.
