Australia’s Energy and Resources Minister Josh Frydenberg has been welcomed by some in his new role; but there’s a bit of history that makes others a tad hesitant.
Mr Frydenberg, Federal Member for Kooyong and previously Assistant Treasurer, was given his new portfolio by Prime Minister Malcolm Turnbull on the weekend and sworn in yesterday.
The Clean Energy Council says it welcomes the opportunity of working with Minister Frydenberg and continuing its strong relationship with Environment Minister Greg Hunt.
CEC Policy Manager Darren Gladman said technologies such as rooftop solar power have disrupted traditional energy business models and will help to bring down the cost of energy for everyone.
“Australia is well placed to take advantage of these changes, and the renewable energy industry is looking forward to working with Minister Frydenberg, whose early comments show that he recognises the growing economic contribution of clean energy like wind, solar, bioenergy and energy efficiency.”
However, RenewEconomy’s Giles Parkinson points out Mr. Frydenberg was also once a vocal supporter of nuclear energy; although he has said little on the topic since the Fukushima nuclear disaster.
It seems Mr. Frydenberg is also a supporter of coal.
“If you’re talking about coal, that’s an important part of the energy mix and an important part of Australia’s energy production,” he said, also adding; ” But at the same time, renewable energy is too.”
Mr Frydenberg wasn’t a fan of the Clean Energy Finance Corporation (CEFC) in the early days; previously calling it a “indulgent, expensive, misguided, big government idea”. He had this to say in 2012:
“Not only will it distort the market in the renewable energy technology space and put a brake on existing players in that market but it will also see the loss of billions of dollars of taxpayers funds at a time when this government’s economic mismanagement is driving the country further into debt”.
The CEFC invests for a positive financial return and since its inception, the Corporation has committed over $1.4 billion in finance to investments in clean energy projects valued at over $3.5 billion.
Back in 2012, Mr Frydenberg said: “you are either a commercial entity competing in the private sector or you are a publicly funded entity with non -commercial goals. You cannot be both.”
It appears the CEFC has proven otherwise.
It’s not clear if Mr. Frydenberg’s feelings on the CEFC have changed since that time; just as it’s still not clear if Prime Minister Turnbull will be a friend or foe to renewable energy (or somewhere in between). The general feeling still seems to be both will be better than the blokes they took over from.
