“Petrol retailing and refining giant Ampol has landed another $100 million from the federal government to help roll out a further 200 electric vehicle fast charging bays by 2025, and to pursue efforts on renewable fuels and other technologies.
Ampol has previously landed grants from both the NSW state government and the Australian Renewable Energy Agency to begin its rollout of EV fast charging stations under the AMPCharge brand.
However, it fell well short of its target of reaching more than 180 charging bays by the end of 2023, with just 82 charging bays installed across 36 sites.
In the company’s 2023 annual report, it blamed delays with grid connections and landowners.”
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In Senate Estimates the Labor Party is trying to argue that loans to the private sector for renewable energy are not subsidies.
This is double speak as eventually most of these loans will never be repaid for the simple reason electric vehicle charging stations aren’t economical.
At $500,000 for each charging station, plus the energy and land required for each one, the price charged by Ampol to recover costs would be so expensive as to render the charging stations uneconomical. The idea they can roll out enough charging stations to service an entire nation the size of Australia is absurd.
If charging stations were economical the private banks would have lent the money.
It’s just another example of how renewables are being propped up by taxpayer funded subsides.
People First will abolish all government subsidies for renewables and use the savings to cut your income tax.
Quote from:
https://aacs.org.au/ampol-gets-another-100-million-to-roll-out-200-ev-fast-charging-bays-and-renewable-fuels/#:~:text=Petrol%20retailing%20and%20refining%20giant,renewable%20fuels%20and%20other%20technologies
Environment and Communications Legislation Committee
04/11/2024
Estimates
CLIMATE CHANGE, ENERGY, THE ENVIRONMENT AND WATER PORTFOLIO
Department of Climate Change, Energy, the Environment and Water
Senator RENNICK: I note that the current Albanese government has lent $100 million to Ampol for 200 charging stations, which works out at $500,000 per charging station. Could I please get the details of that loan and what the collateral is? In particular, is Ampol going to underwrite the entire $100 million or is the taxpayer going to wear that cost if it doesn’t get repaid?
Mr Ryan: I think the one you’re referring to is an ARENA grant, the Ampol one. I think ARENA is on the agenda, so you should direct the question to them.
CHAIR: They’re technically on at five past 12.
Senator RENNICK: Okay.
Mr Ryan: If it’s the one I think it is, I think it’s ARENA.
Senator RENNICK: It’s ARENA? It’s not CEFC?
Mr Ryan: I think they’re on agenda as well.
CHAIR: They are. They’re directly after ARENA.
Senator RENNICK: I’ll direct this question to you, Minister, as a question of policy. Yet again, why are we subsidising Ampol, which makes a lot of money—it’s a private company—to install charging stations? Shouldn’t they be doing that themselves?
Senator Ayres: I think it would be better if we had this discussion while the detail was able to be provided by the relevant agency. If it is as you’ve described it on the face of it a loan from one of those special investment vehicles, it’s not a subsidy; it is the government providing a loan. As you know, these funds are also capable of providing equity injections. The point is to make sure for people who have electric vehicles that the uptake of charging infrastructure out there is as strong as it can be, that we incentivise the smartest, highest tech so that consumers have the best choice in front of them and that we drive down costs for householders who have electric vehicles. It is in the national interest and it’s in the interests of consumers to have the lowest cost private transport options available to them, and that’s what the government supports.
CHAIR: Senator Rennick, we are moving on now. I’m happy to put you on the back of the list.
