The AGL chair denies giving Cannon-Brookes too much leverage

This concludes the first day of The Australian Financial Review’s Energy and Climate Summit. Need to Know will be back tomorrow to cover the second day of the Summit.

Here are some of the highlights so far:

Retail electricity prices are likely to increase by at least 35 percent in 2023: Electricity prices could skyrocket next year as the system struggles with the clean energy transition, energy company bosses said at The Australian Financial Review’s energy and climate summit.

Opportunities and risks of the US Green New Deal for Australia, says Bowen: Chris Bowen has warned Australia that it must “strike while the irons are hot” to advance as the United States’ preferred trading partner for renewable energy.

Albanese has to keep up with the US when it comes to clean energy, Debelle warns: Former RBA MP Guy Debelle says there is a serious risk that Australia will squander its natural clean energy advantages if it can’t keep up new US subsidies.

“Immense” opportunity for renewables, says ARENA boss: Australia is underestimating how much green energy it can produce and could surpass current projections by 2050, says ARENA boss Darren Miller.

Game changers needed to protect consumers from soaring energy bills: Identifying customers who are unable to pay their energy bills earlier will be crucial as prices rise, says Clare Savage, chair of Australia’s energy regulator.

What Alinta’s Macquarie margin call says about the energy crisis: Broken Markets. Rising prices on the futures markets. bill shock construction pain Australia’s top energy CEOs are not optimistic about what’s to come.

Nuclear energy can be renewables’ best friend, says Liberal MP: Opposition energy spokesman Ted O’Brien has lashed out at nuclear energy. He pointed to examples of the introduction of nuclear weapons in France, Great Britain and the USA. The Fairfax MP then said that introducing more nuclear energy into Australia’s energy mix would increase energy security as he claimed it would reduce Australia’s reliance on Chinese manufacturing compared to renewable energy.

Carbon needs a market price, says Liveris: Lucid Motors chairman Andrew Liveris said a market price for carbon was needed. The number is “not a good number for most people,” around $80 or higher, but it would “drive emitters to trade with the people who use renewable energy.”