In This Edition Virtual Events Update

Total Page:16

File Type:pdf, Size:1020Kb

In This Edition Virtual Events Update A weekly analysis updating you on the latest developments in the infrastructure sector. View the full report in your browser. Follow us on In this edition Virtual Events Update Registrations of Interest called for Renewable Energy Zone in Central-West NSW Productivity Commission kicks off second inquiry into National Water Reform NSW and Victorian governments continue fast-tracking planning approvals NSW Minister for Customer Service provides an exclusive briefing Industry News Appointments Virtual Policy Taskforces and Events Virtual Events Update This week, Infrastructure Partnerships Australia refreshed its virtual events program to focus on quality, over quantity and delivering you the best events, with the right speakers, at the right time. As part of the refresh, the weekly webinar slot on Thursday mornings will now move to a more dynamic model to provide the best and most timely content. Over the coming weeks you’ll see a range of sector leaders on our events platform, including Gladys Berejiklian, Premier of New South Wales, Ben Wyatt MP, Treasurer of Western Australia, and Tim Reardon, Secretary, NSW Department of Premier and Cabinet, among others. That means you can be confident an invite to an Infrastructure Partnerships Australia virtual event will be worth making time for. We led the delivery of live and interactive virtual events and we’ll continue to innovate and evolve our service offering to keep you connected with the sector through the COVID-19 crisis and beyond. BACK TO TOP ENERGY Registrations of Interest called for Renewable Energy Zone in Central-West NSW The NSW Department of Planning, Industry and Environment (DPIE) has requested Registrations of Interest (ROIs) for the state’s first pilot Renewable Energy Zone (REZ) in the Central- West region. The Government is calling for proponents of potential renewable energy and energy storage projects in the region to provide an indication of the scale, location and types of projects being considered for the REZ. Information gathered through the ROI process will help to determine the technical Source: Shutterstock design, planning and further market engagement to guide development of the REZ. Through the Central-West REZ, the NSW Government hopes to unlock up to 3,000 megawatts of new generation by the mid-2020s. ROIs are open for two weeks and close on 5 June. Construction of projects in the Central- West REZ are expected to commence in 2022. This follows the announcement in late January of a bilateral energy deal between the Federal Government and NSW Government. That Memorandum of Understanding included a commitment by both the governments to progress the Central-West REZ and provide support to upgrade critical transmission infrastructure, including Humelink, Project EnergyConnect, VNI West, and QNI. WATER Productivity Commission kicks off second inquiry into National Water Reform This week, the Productivity Commission (PC) launched a new National Water Reform inquiry, releasing its Terms of Reference and Issues Paper. This is the PC’s second triennial review of the national water sector, with the last one conducted in 2017. This Inquiry tracks progress of Australian governments and the sector towards objectives established in the 2004 National Water Initiative (NWI). The Inquiry will also explore whether reforms agreed to in the NWI are still relevant and consider how Source: Shutterstock to address challenges such as climate change. Jane Doolan, who led the 2017 Inquiry has been re-appointed to lead this Inquiry. Dr Doolan is also Deputy Chair of Western Water, a utility in Victoria. The PC is calling for submissions to the Issues Paper by Friday 21 August. A submission to the 2017 Inquiry by Infrastructure Partnerships Australia, as well as a submission by the Water Services Association of Australia and a report by Infrastructure Australia, all called for the PC to set out the need for a new National Water Initiative, among a number of other measures, to bring about much-overdue urban water reforms. However, the 2017 inquiry failed to bring about any meaningful reforms to urban water. Instead, a recommendation to ‘renew’ the NWI through incremental change is still the subject of discussion between the Federal Government and the states and territories. Infrastructure Partnerships Australia will urge the Commission to address the major challenges facing the sector, which have only intensified since 2017, and outline an ambitious and actionable reform agenda for urban water through this Inquiry. PLANNING NSW and Victorian governments continue fast-tracking planning approvals The New South Wales and Victorian Governments have announced a range of projects to be fast-tracked through planning processes across energy, education, public housing, justice and health infrastructure, as part of their response to the economic impacts of COVID-19. Late last week, the NSW Government announced a second tranche of projects to be fast- tracked through approvals processes as part of the Planning System Acceleration Program. These 24 projects have an Source: Shutterstock estimated total cost of $5.4 billion, and include the new Sydney Fish Market and New Tweed Valley Hospital. The NSW Government has committed to make planning decisions on these projects by 18 June. These add to the first tranche of 24 projects announced by the NSW Government in late April, which have now all had their approvals finalised. Also this week, the Victorian Government announced that it had approved $1.2 billion of building and development projects, including a new $290 million headquarters for the Australian Federal Police in Melbourne. These approvals were fast-tracked through the Building Victoria’s Recovery Taskforce, which was established last month to identify and accelerate priority projects. These measures to streamline planning processes and mobilise investment in smaller capital projects are aligned with Infrastructure Partnerships Australia’s advice to governments in mid-April. These actions add to earlier announcements to shore confidence in the sector, maintain construction, and ensure the pipeline of existing projects could continue to be delivered. Infrastructure Partnerships Australia will continue to work closely with governments and industry to support the ongoing stimulus and economic recovery efforts. EVENTS NSW Minister for Customer Service provides an exclusive briefing In the most recent instalment of Infrastructure Partnerships Australia’s Infrastructure to the Point virtual event series, the New South Wales Minister for Customer Service, Victor Dominello, provided an exclusive briefing on his government’s response to COVID-19. He reflected on the dramatic shift in decision-making processes by Ministers and senior public servants in the NSW Government in response to the current crisis. Minister Dominello outlined the importance of data and analysis in ensuring decisions could be made quickly and Source: Infrastructure Partnerships Australia effectively, and how his Department’s clear focus on customer service has helped to guide the NSW Government’s response efforts and ensure residents received joined-up service delivery. The next Infrastructure to the Point event is scheduled for 4 June, when Western Australia’s Minister for Transport and Planning Rita Saffioti will provide a briefing on her Government’s response to COVID-19. The series will continue throughout June, with details of further sessions with high-profile leaders to be revealed over the coming weeks. Key takeaways from the webinar session with Minister Dominello are summarised below. Industry News WaterNSW have awarded WaterSecure, a joint venture between Aurecon and KBR, a Portfolio Delivery Management contract to oversee previously announced water infrastructure projects to be jointly funded by the NSW and Federal Governments. Under the seven-year contract, WaterSecure will manage projects including the Upper Mole River Dam, Dungowan Dam Replacement, and Wyangala Dam Upgrade. The Government of Western Australia is calling for bids to design and construct the Leach Highway and Welshpool Road Interchange Project through an Alliance contract. The project has a budget allocation of $93 million and is due to commence construction in late 2020. Bids close 3 July and can be made here. KiwiRail has issued a Request for Proposals for a preferred shipyard to build two new ferries for the Interislander Ferry route. The RFP follows the completion of the Request for Information Stage in February. The project recently received a NZ$400 million (AUD $374.5 million) allocation in the New Zealand Government’s 2020-21 Budget. A decision on the shipyard is due before the end of 2020. The NSW Government is calling for Registrations of Interest to finalise designs and environmental assessments for the Medlow Bath section of the Great Western Highway Upgrade Program. The project involves the upgrade of an existing 1.2 kilometres two-lane, two-way section of road on the Great Western Highway. Tenders close 5 June, with more details available here. The Australian Energy Market Commission is calling for submissions on the Australian Energy Regulator’s proposal to allow electricity retailers to defer payment of network charges for up to six months in cases where customers are experiencing financial hardship due to COVID-19 during the second half of 2020. Submissions can be made here and are due by 25 June. The AEMC expects to publish a final determination by 23 July. The Australian Energy Regulator is seeking written submissions on their discussion paper on the regulatory treatment of inflation. A draft position from the review is expected to be reached by September, with a final position due by the end of the year. Submissions are due by 15 July and should be emailed here. The Federal Department of Industry, Science, Energy and Resources has released updated statistics on Australia’s electricity generation. Fossil fuels contributed 79 per cent of total electricity generation in 2019, down from 81 per cent in 2018. Renewables contributed 21 per cent, with solar generation growing by 46 per cent over the previous year. A breakdown of the estimates can be found here.
Recommended publications
  • Project Energyconnect Review of Economic Assessment
    Project EnergyConnect Review of economic assessment 31 March 2021 Project EnergyConnect Review of economic assessment Copyright and Disclaimer Copyright in this material is owned by or licensed to ElectraNet. Permission to publish, modify, commercialise, or alter this material must be sought directly from ElectraNet. Reasonable endeavours have been used to ensure that the information contained in this report is accurate at the time of writing. However, ElectraNet gives no warranty and accepts no liability for any loss or damage incurred in reliance on this information. Revision Record Date Version Description Author Checked By Approved By 31 Mar 2021 1.0 For submission to the Brad Harrison Simon Appleby Rainer Korte AER and publication Hugo Klingenberg Page 1 of 12 Project EnergyConnect Review of economic assessment Project EnergyConnect material change in circumstances assessment Executive Summary On 14 September 2020, ElectraNet submitted an updated economic cost benefit analysis for Project EnergyConnect (PEC) to the AER for approval. The AER confirmed on 28 September 2020 that: “…the AER considers that the updated cost benefit analysis provides a not unreasonable basis for ElectraNet’s opinion that PEC remains the preferred option. We expect both ElectraNet and TransGrid to submit full and complete contingent project applications for PEC as soon as possible.” On 29 September 2020, the ElectraNet Board approved submission of a contingent project application (CPA) based on the AER’s confirmation and the CPA was submitted to the AER on 30 September 2020. This note reviews several subsequently announced policies and other changes in the National Electricity Market (NEM) and considers the impact that these could have on the benefits of PEC.
    [Show full text]
  • Australia's Climate Policy 2020
    Australia’s climate policy A de facto net zero target | August 2020 Norton Rose Fulbright is at the forefront of regulatory and market developments, providing advisory services on business risk and opportunities in relation to emissions regulation, carbon markets, offsets projects, clean energy, climate finance, sustainable development or resource scarcity. We bring a global perspective to the international patchwork of emerging policy and regulation, as well as trends in climate risk and climate change litigation. When you need help transitioning to a zero-carbon economy, we’re there. Australia’s climate policy The emerging patchwork | July 2020 Contents Introduction 04 State and Territory snapshot 05 Australian Capital Territory 06 New South Wales 08 Northern Territory 12 Queensland 16 South Australia 18 Tasmania 21 Victoria 23 Western Australia 26 Global Resources 29 Contacts 30 03 Australia’s climate policy The emerging patchwork | July 2020 Introduction This year, Australia experienced horrific bushfires, described In March 2020, the Climate Change Authority released a as the most “evident and deeply traumatic experience of the report making 35 recommendations, directed primarily to huge impacts of climate change” by Christiana Figueres, the the Federal Government, to assist with creating the policy Former Executive Secretary of The United Nations Framework settings necessary to meet our commitments under the Paris Convention On Climate Change.1 Also this year, the 2015 Agreement. Our update on that report can be found here Paris Agreement, which Ms Figueres helped to deliver, invites update. governments to set and communicate their long-term 2050 goals, and shorter term targets up to 2030 to decarbonise their As the business and financial community would attest to, economies.
    [Show full text]
  • Project Update Week Ending 5 June 2020
    Project Update Week ending 5 June 2020 Jemena calls for renewable gas certification to unlock Australia’s bioenergy potential 29 May Leading energy infrastructure company, “In addition, we also have the capacity to Jemena, has called for a national approach to unlock our bioenergy sector. Well established green accreditation for renewable gases, such in Europe, bioenergy is a proven ‘here and as biomethane and hydrogen, as part of its now’ fuel source and can help Australia submission to the Australian Renewable address the energy trilemma of affordability, Energy Agency (ARENA) Bioenergy Roadmap reliability and sustainability. today. “Renewable gases have a huge role to play in A certification system would enable lowering emissions in sectors such as heavy customers to purchase verified and accredited transport, manufacturing and our gas zero emission gas as is currently the case for networks.” renewable electricity. Time to unlock Australia’s bioenergy potential Jemena Executive General Manager, Gas Bioenergy is derived from plants, animals, and Distribution, Dr Jennifer Purdie said as their by-products and residues such as Australia looks to recover from the economic agriculture, farming, human and forestry impacts of COVID-19, renewable gas could wastes and remains. Converted into unlock regional jobs, business growth, biomethane, it can provide reliable and enhance energy security, and be injected into responsive carbon neutral energy for homes the network with no impact to customer and businesses. appliances. According to Bioenergy Australia, the total “Australia has the capacity to be a world contribution of the biofuels industry to the US leader in zero emission gas. Several green economy in 2016 was $459 billion, employing hydrogen gas trials have commenced for 4.65 million direct and indirect workers.
    [Show full text]
  • 9/06/2021 Dr Kerry Schott AO Chair, Energy Security Board Lodged by Email: [email protected] Dear Dr Schott
    ABN 70 250 995 390 180 Thomas Street, Sydney PO Box A1000 Sydney South NSW 1235 Australia T (02) 9284 3000 F (02) 9284 3456 9/06/2021 Dr Kerry Schott AO Chair, Energy Security Board Lodged by email: [email protected] Dear Dr Schott, Submission to the Energy Security Board’s post 2025 market design options paper We welcome the opportunity to respond to the Energy Security Board’s (ESB) post 2025 market design options paper. Australia is in the midst of an energy transition and the energy system is evolving at a rapid pace. TransGrid’s responsibility during this transition and beyond is to invest in, operate and manage our transmission network safely, securely and efficiently in the long-term interests of consumers. To this end, our Board has very recently made a Final Investment Decision to proceed with the construction of Project EnergyConnect (PEC), a high voltage interconnector between New South Wales and South Australia. We strongly support the work of the ESB to ensure that the National Electricity Market (NEM) design is fit for purpose and provides for a reliable and affordable supply of electricity to consumers. Our view is that it is essential that the post 2025 market design provides consumers with reliable and secure power at lower cost through: Ensuring that a centralised transmission network continues to be the backbone of the energy system - to enable efficiently located, large scale storage and renewable generation in the NEM. The connection of large scale renewable energy zones (REZs) to the grid as well as greater interconnection between the NEM regions will deliver this.
    [Show full text]
  • Energy Transition in Australia
    ENERGY TRANSITION IN AUSTRALIA FLANDERS INVESTMENT & TRADE MARKET SURVEY Market Study /////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// ENERGY TRANSITION IN AUSTRALIA State of Play 2020 //////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////////// Flanders Investment & Trade Autstralia Pty Ltd 103/838 Collins Street Docklands VIC 3008 Australia T. +61 3 96 14 09 80 E. [email protected] www.flandersinvestmentandtrade.com TABLE OF CONTENTS 1. FOREWORD .......................................................................................................................................................................... 4 COVID-19 impact 5 2. AUSTRALIAN MACRO-FACTOR ANALYSIS .......................................................................................................... 6 DEMOGRAPHIC FACTORS 6 ECONOMIC FACTORS 7 3. ENERGY MARKET (GENERAL STATISTICS - SNAPSHOT) .............................................................................. 8 ENERGY GENERATION 8 ENERGY CONSUMPTION 8 ENERGY COSTS 9 4. ENERGY DISTRIBUTION ................................................................................................................................................ 10 ENERGY NETWORKS 10 ELECTRICITY TRANSMISSION 11 ELECTRICITY DISTRIBUTION 12 ELECTRICITY (AND GAS) RETAILING 13 4.4.1 Electricity retailing 13 4.4.2 Gas Retailing
    [Show full text]
  • Project Energyconnect: Updated Cost Benefit Analysis
    PROJECT ENERGYCONNECT Updated Cost Benefit Analysis 30 September 2020 Project EnergyConnect: Updated Cost Benefit Analysis Copyright and Disclaimer Copyright in this material is owned by or licensed to ElectraNet. Permission to publish, modify, commercialise or alter this material must be sought directly from ElectraNet. Reasonable endeavours have been used to ensure that the information contained in this report is accurate at the time of writing. However, ElectraNet gives no warranty and accepts no liability for any loss or damage incurred in reliance on this information. Revision Record Date Version Description Author Checked By Approved By 9 Sep 2020 Final Final draft for AER review Brad Harrison Hugo Klingenberg Rainer Korte Draft Simon Appleby 30 Sep 2020 Final Final for publication Brad Harrison Simon Appleby Rainer Korte Page 2 of 35 Project EnergyConnect: Updated Cost Benefit Analysis Executive Summary Project EnergyConnect (PEC) is the proposed new 330 kV electricity interconnector between Robertstown in South Australia and Wagga Wagga in New South Wales that also includes a short 220 kV line from Buronga in New South Wales and Red Cliffs in northwest Victoria. ElectraNet completed the Regulatory Investment Test for Transmission (RIT-T) with the release of a Project Assessment Conclusion Report (PACR) on 13 February 2019, which concluded that Project EnergyConnect was the preferred option that satisfied the requirements of the RIT-T. On 24 January 2020 the Australian Energy Regulator (AER) issued a formal determination that found that ElectraNet had correctly identified Project EnergyConnect as the preferred option. The National Electricity Rules (NER) require ElectraNet to consider whether, in its reasonable opinion, there has been a “material change in circumstances” that might lead to a change in the preferred option and thereby potentially require reapplication of the RIT-T.
    [Show full text]
  • Clean Energy Australia Report 2021
    CLEAN ENERGY AUSTRALIA REPORT 2021 AUSTRALIA CLEAN ENERGY CLEAN ENERGY AUSTRALIA REPORT 2021 CONTENTS 4 Introduction 6 2020 snapshot 12 Jobs and investment in renewable energy by state 16 Industry outlook: small-scale renewable energy 20 Industry outlook: large-scale renewable energy 22 Federal politics 24 State policies 26 Australian Capital Territory 28 New South Wales 30 Northern Territory 32 Queensland 34 South Australia 36 Tasmania 38 Victoria 40 Western Australia 42 Employment 46 Renewables for business 50 International update 52 Electricity prices 54 Transmission 56 Energy reliability 58 Technology profiles 60 Battery storage 64 Bioenergy 66 Hydro and pumped hydro 68 Hydrogen 70 Solar: Small-scale systems up to 100 kW 78 Solar: Medium-scale systems between 100 kW and 5 MW 80 Solar: Large-scale systems larger than 5 MW 84 Wind Cover image: Wind turbine blade installation, Collector Wind Farm, New South Wales INTRODUCTION Kane Thornton Chief Executive, Clean Energy Council Australia’s clean energy came from clean energy sources, territories’ progressive energy policies transition accelerated with wind and rooftop solar leading only served to highlight the ongoing again in 2020 as wind the way. This represents a massive failures at the federal level, where transformation that makes Australia’s arguments about government support and rooftop solar set new electricity system cheaper, more for gas and coal overshadowed some records, battery storage reliable and, most importantly, cleaner. genuinely positive developments. came of age, and the But the best news is that the shift is These included the continued showing no sign of slowing down. hydrogen sector continued growth of clean energy jobs, with the its rapid development.
    [Show full text]
  • FOR the FUTURE Spark Infrastructure’S 2020 Annual Report Describes How We Have Created Value Over the Year Through Our Investments in Essential Energy Infrastructure
    ANNUAL REPORT 2020 INFRASTRUCTURE FOR THE FUTURE Spark Infrastructure’s 2020 Annual Report describes how we have created value over the year through our investments in essential energy infrastructure. As a long-term investor, we aim to generate sustainable returns for Securityholders while delivering positive outcomes for our customers, our people, and the communities where we operate. CONTENTS Our 2020 Annual Report describes our performance according to key stakeholder outcomes. It includes our Directors’ Report and Financial Report. Securityholders Customers Our people, Innovation and Environment p16 and community health and safety technology p36 p24 p28 p32 Spark Infrastructure at a glance 2 Governance 40 Chair’s message 6 Board of Directors 42 Managing Director’s message 8 Management team 43 How we create value 10 Annual Financial Report Performance outcomes (including Directors’ report) 44 Creating value for Securityholders 16 Additional ASX disclosures 124 Partnering with customers and community 24 Glossary of terms 126 Supporting our people 28 Contact information 127 Leading through innovation and technology 32 Five-year performance summary 128 Acting on environmental risks and opportunities 36 AGM DETAILS 2020 REPORTING SUITE Annual General Meeting ANNUAL REPORT CORPORATE GOVERNANCE STATEMENT 11:30am, Thursday, 27 May 2021 2020 2020 INFRASTRUCTURE INFRASTRUCTURE FOR THE FUTURE FOR THE FUTURE Further details about the AGM can SUSTAINABILITY DATA REPORT 2020INFRASTRUCTURE be found on Spark’s website at FOR THE FUTURE https://www.sparkinfrastructure.
    [Show full text]
  • 24 July 2020 Dear Stakeholders, Project Energyconnect Update
    24 July 2020 Dear Stakeholders, Project EnergyConnect Update Project EnergyConnect (PEC) is the proposed, new, 330-kV electricity interconnector between Robertstown, in South Australia, and Wagga Wagga, in New South Wales, that also includes a short 220-kV spur from Buronga, in New South Wales, to Red Cliffs in northwest Victoria. Background In 2016, ElectraNet began exploring options to reduce the cost of providing secure and reliable electricity, enhance power system security in South Australia, and facilitate the long-term transition of the energy sector across the National Electricity Market (NEM) to low emission energy sources. In November 2016, we released a Project Specification Consultation Report (PSCR) that explored the technical and economic feasibility of a new interconnector between South Australia and the eastern states as well as other non-network solution options, through the SA Energy Transformation Regulatory Investment Test for Transmission (RIT-T). The RIT-T is the economic cost benefit test that is overseen by the Australian Energy Regulator (AER) and applies to all major network investments in the NEM. In June 2018, a Project Assessment Draft Report (PADR) was released identifying that the construction of a new, high-capacity interconnector between South Australia and New South Wales would deliver substantial net benefits to customers. In February 2019, following extensive consultation with stakeholders we released a Project Assessment Conclusions Report (PACR) as the final step in the RIT-T process. The RIT-T PACR estimated the cost of the project to be $1.53 billion with a completion date of 2022 to 2024. To deliver the project, ElectraNet is partnering with TransGrid, the manager and operator of the high voltage electricity transmission network in NSW.
    [Show full text]
  • EIS Document Information EIS Document Information
    EIS Volume 1 EIS Document Information EIS Document Information Contents Acknowledgements ...........................................................................................................1 Disclaimer..........................................................................................................................2 EIS Project Team ................................................................................................................3 Abbreviations and Acronyms used in the EIS ......................................................................5 Glossary of Terms used in the EIS ..................................................................................... 11 Definition of Study Areas discussed in the EIS .................................................................. 13 Project EnergyConnect Environmental Impact Statement i EIS Document Information Acknowledgements EletraNet acknowledges all Traditional Owners of the land upon which Project EnergyConnect will be constructed and celebrates their enduring connections to Country, knowledge and stories. We pay our respects to their Elders and Ancestors and recognise the deep and ongoing feelings of relationship and attachment they hold for their lands. ElectraNet places great value on our relationships with all stakeholders and seeks to work in partnership with them, to develop the Project in a manner that generates the maximum benefit for both local communities and the broader South Australian community. ElectraNet has appreciated the cooperation of members
    [Show full text]
  • Clean Energy Australia 2020
    CLEAN ENERGY AUSTRALIA CLEAN ENERGY AUSTRALIA REPORT 2020 AUSTRALIA CLEAN ENERGY REPORT 2020 CONTENTS 4 Introduction 6 2019 snapshot 12 Jobs and investment in renewable energy by state 15 Project tracker 16 Renewable Energy Target a reminder of what good policy looks like 18 Industry outlook: small-scale renewable energy 22 Industry outlook: large-scale renewable energy 24 State policies 26 Australian Capital Territory 28 New South Wales 30 Northern Territory 32 Queensland 34 South Australia 36 Tasmania 38 Victoria 40 Western Australia 42 Employment 44 Renewables for business 48 International update 50 Electricity prices 52 Transmission 54 Energy reliability 56 Technology profiles 58 Battery storage 60 Hydro and pumped hydro 62 Hydrogen 64 Solar: Household and commercial systems up to 100 kW 72 Solar: Medium-scale systems between 100 kW and 5 MW 74 Solar: Large-scale systems larger than 5 MW 78 Wind Cover image: Lake Bonney Battery Energy Storage System, South Australia INTRODUCTION Kane Thornton Chief Executive, Clean Energy Council Whether it was the More than 2.2 GW of new large-scale Despite the industry’s record-breaking achievement of the renewable generation capacity was year, the electricity grid and the lack of Renewable Energy Target, added to the grid in 2019 across 34 a long-term energy policy continue to projects, representing $4.3 billion in be a barrier to further growth for large- a record year for the investment and creating more than scale renewable energy investment. construction of wind and 4000 new jobs. Almost two-thirds of Grid congestion, erratic transmission solar or the emergence this new generation came from loss factors and system strength issues of the hydrogen industry, large-scale solar, while the wind sector caused considerable headaches for by any measure 2019 was had its best ever year in 2019 as 837 project developers in 2019 as the MW of new capacity was installed grid struggled to keep pace with the a remarkable year for transition to renewable energy.
    [Show full text]
  • Draft Determination 2 on 1 October 2020, the Australian Energy Market Commission (AEMC Or Commission) Received a Rule Change Request from Transgrid
    Australian Energy Market Commission DRAFT RULE DETERMINATION RULE NATIONAL ELECTRICITY AMENDMENT (PARTICIPANT DEROGATION – FINANCEABILITY OF ISP PROJECTS (TRANSGRID)) RULE 2021 PROPONENT TransGrid 4 FEBRUARY 2021 Australian Energy Draft rule determination Market Commission Participant derogation – financeability of ISP projects 4 February 2021 INQUIRIES Australian Energy Market Commission GPO Box 2603 Sydney NSW 2000 E [email protected] T (02) 8296 7800 Reference: ERC0320 CITATION AEMC, Participant derogation – financeability of ISP projects (TransGrid), Draft rule determination, 4 February 2021 ABOUT THE AEMC The AEMC reports to the Council of Australian Governments (COAG) through the COAG Energy Council. We have two functions. We make and amend the national electricity, gas and energy retail rules and conduct independent reviews for the COAG Energy Council. This work is copyright. The Copyright Act 1968 permits fair dealing for study, research, news reporting, criticism and review. Selected passages, tables or diagrams may be reproduced for such purposes provided acknowledgement of the source is included. Australian Energy Draft rule determination Market Commission Participant derogation – financeability of ISP projects 4 February 2021 SUMMARY 1 The Commission’s draft determination 2 On 1 October 2020, the Australian Energy Market Commission (AEMC or Commission) received a rule change request from TransGrid. It sought an exception to the applicability of the rules in relation to the financeability of its share of actionable Integrated System Plan (ISP) projects in the form of a participant derogation, meaning that the exception from the rules will only apply to TransGrid. Financeability refers to the willingness of investors to extend equity or debt to a business to finance its activities.
    [Show full text]