During Estimates hearings on Tuesday 30 July 2024, I asked the Director General of the Department of Energy and Climate about CleanCo's projected renewable energy generation.
You can read my questions and his full response below, or in the official Parliamentary record of proceedings (Hansard) here.
Mr BERKMAN: I want to start by following up on my prehearing question on notice regarding CleanCo’s renewable energy generation assets excluding offtake agreements. I understand that the answer was that CleanCo is planning an additional five gigawatts of renewable energy generation. There was a second limb to the question that sought forecasts for each financial year, what the overall amount of publicly owned renewable generation would be. Is that something that can be provided? I will ask the DG for this one.
Mr Martyn: Can you ask the question again, please?
Mr BERKMAN: Can you provide planned or forecast figures for each financial year for the total generation capacity from renewable energy generation assets that are owned and operated by CleanCo?
Mr Martyn: I can advise the member that the public ownership strategy under the energy legislation will be released next year and those details will be contained in that strategy.
Mr BERKMAN: Those forecasts are on their way?
Mr Martyn: It is essential that we understand the role of gas in the future and that we model that.
Mr BERKMAN: Can I clarify? That answer indicated that CleanCo would own five gigawatts of the total forecast 22 gigawatts.
Mr Martyn: That is their target.
Mr BERKMAN: How does that align with what I understand is the current policy of maintaining majority public ownership of generation assets?
Mr Martyn: The legislation prescribes 54 per cent ownership of generation.
Mr BERKMAN: My question really is: five gigawatts out of a total 22 gigawatts is clearly substantially less than 54 per cent.
Mr Martyn: It is important to understand that the public ownership target is to be achieved over the life of the legislation to the period 2035 and the public ownership strategy, which the minister will update periodically, will articulate how that is achieved.
Mr BERKMAN: Can I clarify this as well? My understanding of the renewable energy targets methodology that was released and tabled quite recently is that it excludes pumped hydro storage; it is a secondary source, so it does not count directly towards renewable energy targets and, I assume, the public ownership of renewables?
Mr Martyn: I thank the member for the question. It is a good point. Whilst pumped hydro generates, it also consumes, so it was important not to double count. The legislation also provides for a target for long-duration storage. That is where the two large pumped hydros in particular that the government has invested in are being accounted for. It was designed not to double count.
Mr BERKMAN: I have one final question on that topic. Given that preparation of the public ownership plan is a statutory requirement—
Mr Martyn: Yes, it is.