A report by the CSIRO and the Australian Energy Market Operator reveals that nuclear power is the most expensive source of new energy in Australia, while solar and on-shore wind projects are the cheapest. The report estimates the changing costs of electricity and storage projects, with renewable technologies continuing to have the lowest cost range despite integration challenges. The draft report is open for consultation until February 2024.
At UN Climate talks, 50 oil companies promise to slash methane emissions and end routine flaring by 2030, aiming to combat climate change. However, environmentalists view the pledge as a ‘smokescreen’ to hide the need to phase out oil, gas, and coal.
Skyscraper-studded Dubai aims to host COP28 as it continues to flourish amidst regional crises, showcasing a commitment to clean energy while also intensifying oil production.