Allens

Allens is an international top-tier commercial law firm with offices offices throughout Australia and Asia. Allens is an independent partnership operating in alliance with Linklaters LLP. The firm boasts some of the world's longest ongoing client relationships, stretching back more than 170 years.

Latest from Allens - Page 2

Implications for the renewable energy industry 9 min read Wind farms and other renewable energy sponsors should be aware of two recent decisions of the Supreme Courts of Victoria and New South Wales, which have raised doubt over whether wind farm assets are chattels or fixtures. We briefly explore the key findings of each court and consider some broader repercussions of these decisions for the renewable energy industry. Key takeaways While the Supreme Court of…
Groundbreaking climate change cases have significant consequences for companies and projects 13 min read Two groundbreaking climate change-related court decisions in Australia and the Netherlands have shed light on the scope for claims based on duties to individuals to affect the emissions trajectories of companies and projects. This Insight outlines the wider ramifications of the Federal Court’s decision in Sharma v Minister for the Minister for the Environment, and the Hague District Court’s decision in…
Impact on large emitters 3 min read The Federal Government has earmarked $280 million in its Budget 2021 for the roll-out of a ‘below baseline’ crediting scheme, which was a key recommendation of an expert review led by Grant King (King Review). Here we briefly considers what this means for large emitters. Background – what is the ‘below baseline’ crediting scheme? One of the key recommendations of the King Review was the creation of a…
In brief 11 min read On 21 April 2021, the PNG Parliament passed the National Energy Authority Act 2020 (NEA Act) and the Electricity Industry (Amendment) Act 2020 (Amending Act) (together the Acts). The Acts will both commence operation in accordance with notices published in the National Gazettes. Once the Acts commence operation, they will provide for the establishment of the National Energy Authority (the Authority), which will be responsible for the regulation of the electricity…
In brief In our latest update, we examine the progress of new and existing rule change requests to the AEMC across the month of April, as well as take a closer look at a new draft determination on system strength frameworks in the NEM. Key takeaways National electricity rules Two new requests: Settlement under low operational demand; NEM settlement under low, zero and negative demand conditions. Two new draft determinations: Fast frequency response market…
Looking ahead to 2025 In March 2019, the COAG Energy Council requested that the Energy Security Board (ESB) consider whether any changes were required to the core National Electricity Market (NEM) framework in order to facilitate the technological shift towards a lower emissions electricity system. The reforms represent a generational shift in the operation of the NEM, which was originally designed in the 1990s to cater for traditional dispatchable energy sources (coal and gas). The…
Relief for Foreign Financial Services Providers (FFSPs) in 2021-22 Federal Budget 4 min read Last night, Australia’s Federal Government handed down the 2021-22 Federal Budget, which sets out a raft of measures aimed at ‘securing Australia’s recovery’ from the COVID-19 pandemic. The measures include plans to encourage global investment in Australia, including to ‘establish a more efficient licensing regime for foreign financial service providers’. It is fair to say that while there have been grumblings…
No significant reform to super 4 min read The 2021-22 Federal Budget delivers a spending bonanza in a possible election year with a focus on aged care, health, women and rebuilding the post-pandemic economy. In contrast, super fund trustees will likely breathe a sigh of relief that there are no new significant reforms to the superannuation system on the Government’s agenda. In particular, while they are no doubt significant changes for impacted members, the key…
New guidance on managing climate risks 11 min read Recently released guidance from the Australian Prudential Regulation Authority (APRA) and two new barrister opinions re-emphasise the need for banks, superannuation trustees, insurers, and other organisations, to respond to, and appropriately manage, financial risks associated with climate change. We examine the impact of these recent developments and outline the key actions to consider. Key takeaways How APRA-regulated entities should manage the financial risks associated with climate…
The ESB’s Post-2025 Market Design Project focuses on a number of key reform options The uptake of small and large-scale renewable energy, and the growth of demand-side technologies, has necessitated a new, fit-for-purpose electricity system that can recognise and respond to the changing energy landscape. At Allens, we are considering the implications of the proposed reforms for our clients and the sector more broadly, and will shortly be publishing further Insights on the implications of,…