There’s a fascinating graph towards the bottom of APA Group’s December half results presentation that shows the energy mix on Australia’s east coast – and underscores the size of Australia’s energy transition challenge.
“The one thing that is for sure is that coal is going to come out, but … the size of the challenge is staggering,” APA chief executive Adam Watson says. That is demonstrated by comparing the east coast to places that have been more aggressive on renewables. In the Netherlands, for example, 33 per cent of energy is generated by renewables but 46 per cent comes from gas. In Britain, 38 per cent of power comes from renewables and 40 per cent from gas.“It’s substantially lower emissions, you can turn it off and on, it’s the perfect complement to renewables.
The lotteries sector in Australia has historically been extremely resilient to broader economic conditions, and van der Merwe sees no reason that will change – punters will give up a lot of other things before they give up the $12 they spend on average when they play lotto.