The Weekly Dispatch: Race for reliability

In this edition of the Weekly Dispatch:

  1. AEMO’s 2023 ESOO projects significant reliability risks, particularly in NSW and Victoria if investment in new capacity is not forthcoming.
  2. The AEMC published the final report for the metering review setting a 100% smart meter target by 2030. Under the recommended reforms DNSPs would set the retirement schedule for legacy meters and retailers would be responsible for replacing the meters.
  3. Snowy 2.0 costs increase to $12 billion under a new incentivised target contract model with the target commissioning date brought forward to December 2028. Snowy 2.0 capacity will be increased to 2,200 MW and total storage remains at 350 GWh. The estimated cost of the 660 MW Hunter Power Project (Kurri Kurri) also increased from $600 million to $950 million and remains on track to be delivered in December 2024.
  4. The Commonwealth and Western Australian Governments have announced a deal to deliver up to $3 billion in loans and investment for transmission through the Rewiring the Nation scheme.
  5. The CIS will fund a joint Victoria-South Australia tender for 600 MW of 4-hour storage. AEMO will run the tender process with draft term sheets and timelines to be published in the coming weeks.
  6. The Queensland Government announced the Stanwell Clean Energy Hub to provide a sandbox to test new energy technologies.
  7. GreenPower has launched a renewable gas certification program to certify biogas, biomethane and green hydrogen. Gas users can purchase these certificates to support renewable gas production. The new Malabar biomethane plant will be the first project registered under the program.
  8. IRENA published their Renewable Power Generation Costs report showing renewable generation costs continuing to fall.
  9. More trouble for offshore wind developers.
  10. Michele Bullock, Deputy Governor of the RBA discusses the economic impacts of climate change and the effects of energy on inflation.
  11. Podcasts of the week: Let me sum up interviews Ron Ben-David on his outlook for the energy sector; Catalyst on V2X; Columbia Energy Exchange interviews Malcolm Turnbull on the energy transition in Australia.
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