The Portland Aluminium smelter in Portland, Australia. Closing power plants before replacements are ready has left the country with fewer options, which should serve as a warning to Japan. | Bloomberg

Australia has abundant energy resources, yet its rush to meet emissions targets is proving costly, made worse by delays in delivering replacement power.

Building new capacity ahead of schedule gives a country more choices; closing existing plants too soon leaves it with fewer, exposing consumers and businesses to higher costs and greater uncertainty. That is the central lesson of Australia’s energy transition — and one that other countries, including Japan, should take seriously.

Australia’s experience shows what happens when emissions reduction takes precedence over other priorities. Its Climate Change Act , passed in 2022, requires emissions to fall 43% below 2005 levels by 2030 and reach net zero by 2050.…