Capital
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Woodside Energy (ASX: WDS) played down forecasts of an LNG supply glut as it backed in gas and oil to still be providing the lion’s share of its earnings well into the 2030s. CEO Meg O’Neill told an investors briefing that Woodside anticipated oil “to continue playing a significant role” in global energy, while demand for LNG would keep growing and ammonia would figure more. (The West)
Business leaders are confident heading into 2026, although energy costs, skills shortages and ageing infrastructure continue to threaten growth, according to Schneider Electric. Regulatory change, supply chain disruption and cybersecurity risks were also cited as barriers in the survey of more than 500 decision-makers across mining, manufacturing, construction and utilities.
Basin Energy (ASX: BSN) announced “strong progress” towards its maiden drilling program at the Sybella-Barkly Project in northwest Queensland, with drilling contractors engaged and land access agreements inked ahead of the first exploration campaign targeting high-impact rare earths and uranium.
 Projects
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The Queensland government labelled the Gladstone green hydrogen gigafactory —promoted and then abandoned by Fortescue (ASX: FMG) — a “fantasy project” as wrangling continues over how much the miner will repay the feds, The Australian reported. “We have reached an in-principle agreement to refund the Federal government in line with our contractual obligations. We are in discussions with the Queensland government and will repay every dollar required under our agreement,” Fortescue said.
Approvals for onshore wind and pumped hydro cost between $10 million and $25 million and solar and battery projects an average of $10 million to achieve in NSW. Both categories take 12 months just to prepare and lodge state significant development applications. Renewable energy project proponents are calling on the NSW Government to cut red tape or risk missing its targets for new electricity generation and battery storage. (AFR)
Policy
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Independent MPs Zali Steggall, Allegra Spender, Nicolette Boele, Sophie Scamps and Monique Ryan raised serious concerns about Labor’s proposed amendments to national environmental law, citing “a range of deficiencies” including a lack of climate safeguards, too much power in the hands of the environment minister, ill-defined national interest powers, a gaping loophole on deforestation, and a flawed offset scheme.
The Greens said they would oppose the federal government’s “so-called” environmental law reform bills when they’re voted through the House of Representatives this week, where Labor has a majority. “These laws have been criticised by every major environment and climate group, but welcomed by the likes of BHP, Chevron and the BCA. This shows exactly who the laws are written for,” Senator Sarah-Hanson Young said. A committee inquiry will postpone a Senate showdown, with Coalition’s various policy positions still a work in progress.
With the Minerals Council, business and Liberal Senator Andrew Bragg urging the Coalition to keep net zero, the Liberals will meet next week to discuss their policy, again. The joint party room will try to agree on a position when parliament resumes in the last week of November.
Regulation
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The Australian Energy Regulator (AER) released an issues paper on the 2026–27 Default Market Offer determination, known as DMO 8, and encouraged stakeholders to engage in the federal government’s consultation on Solar Sharer, which will complicate the regulator’s approach on how to calculate it.
Retailer Momentum Energy was fined more than $750,000 for disclosing the confidential information of family violence victims to their abusers. Victoria’s Essential Services Commission said while the company was alerted to the issue in 2023, it wasn’t investigated until two years later.
Technology
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Local submarine battery systems company PMB Defence Engineering inked a contract with UK’s BAE Systems on the potential integration of its nickel-zinc battery technology into the design of Australia's nuclear-powered submarines. Submarines generate electricity needed to operate onboard systems using energy from their reactors. This power is also used to charge large batteries to keep systems running and as a backup energy source. Nickel-zinc battery systems can offer double the energy capacity of traditional lead acid batteries.
A Danish company has developed technology that could convert retired coal-fired power plants into thermal storage facilities. Aalborg CSP reuses existing equipment to make a ‘Carnot battery’, which converts excess electricity from renewable sources into heat. The heat is stored in molten salt and when demand for electricity increases, it runs the existing turbines to generate electricity. (Power Mag)
Climate
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Nationals Leader David Littleproud said the $1 billion plan to host next year’s United Nations climate summit in Adelaide was a Labor “vanity project”. “This should not be at the taxpayers’ expense and as far as I am concerned, if Turkey (sic) still wants to host the summit, they can have it,” he said.
People
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Ausgrid promoted Fatima Bazzi to the new role of Group Executive Customer.
Research
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The Net Zero Australia (NZAu) Project — a partnership between the University of Melbourne, The University of Queensland and Princeton University — said “different individuals and groups” have been misrepresenting key cost estimates from the project as ‘the cost of Australia reaching net zero’. Using the total costs of achieving net zero by 2050, relative to the total costs of continuing to maintain the energy system without targeting any decarbonisation,the cost of Australia reaching net zero is approximately $300 billion (not up to $9 trillion), according to their most recent calculations. “The large majority of this capital investment should be underwritten by overseas customers and not by Australians. These investments won’t occur if our export customers do not pay for them,” they added.
Windspeeds are increasing, say international researchers, and planned offshore wind projects around the world may not be equipped to handle it. The team analysed wind speed data from 1940 up to 2023 across global oceans, and found almost two in three coastal regions they studied had seen an increase in extreme wind speeds in that time. (Nature Communications)
Random
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Climate for Cricket says its inaugural Green Games this Saturday at Glenelg, South Australia, will show all codes how to switch to renewable energy and cut climate pollution and save money to better fund local clubs and juniors.
