AI Data Centres & Power Rules: Australia’s AI data centre push is colliding with grid reality, with states pushing back on federal plans that would require renewables use—while AirTrunk argues data centres can’t be treated as a blank cheque for new power. Renewables Build-Out & Grid Constraints: The NEM’s renewables share hit 42% in Q2 2026 as wholesale prices fell, but the bigger story is whether enough storage and transmission can keep up with new demand. Battery Storage Momentum: Neoen expanded its battery pipeline in South Australia with new contracts, as Australia’s grid-scale BESS fleet keeps growing and battery price spreads fall sharply. Fuel Security Debate: Australia’s plan for a first new oil refinery in 60+ years is back in focus amid Middle East-driven price risk and warnings that without a clear strategy, shipping disruptions still leave the country exposed. Oil & Gas Earnings: Shell’s profit more than doubled to $9.8bn on Iran-war price lift, while BP moves to sell Lightsource’s solar unit and continues Gulf expansion. CCS Offshore Australia: Shearwater won another CCS seismic survey contract in the Bonaparte Basin, adding to momentum for carbon storage work near Australia. Cyber & Critical Infrastructure: Origin Energy’s data breach adds to pressure on energy firms’ cyber readiness, as utilities face rising attack threats. Market Backdrop: Global markets swung on Fed expectations and Middle East tensions, feeding into energy price volatility that directly affects Australia’s investment and household costs.