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Paper short abstract:

The paper investigates Australian climate movement perspectives on the role of private energy capital in securing transitions to renewable energy. It uses interviews and local engagement to shed light on both the limitations and possibilities of movement agendas in securing energy transitions.

Paper long abstract:

Despite decades of privatisation in the electricity sector, ‘legacy’ power from the burning of fossil fuels often remains publicly-owned. In contrast, renewable energy is increasingly in private hands, facilitated by public agencies. Plans for global energy transition, from the International Renewable Energy Agency, now hinge almost exclusively on private capital (IRENA 2021). One study found just 4 per cent of global renewable energy transactions had involved public agencies (ESSU 2021). The capture of renewable ‘resources’ is institutionalised and legitimised, and the power of energy capital is deepened in energy ‘markets’. Questions for energy transition then centre on the capacity to maintain returns for private capital and secure concessions from private players. To what extent do climate movements address or question the role of private capital in energy transitions? What alternatives are presented, if any? The paper reports on a sustained engagement with climate action movement organisations in Australia, drawing on interviews and an early survey of viewpoints, envisaged as the first stage for conceptualising an international comparison of these issues. Results are analysed, posing questions for understanding the potential and limits of models for energy transition promoted by the movement, as defining the present-day policy horizon for energy transitions.