DOCSLIB.ORG

Project Update Week Ending 18 May 2018

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Project Update Week Ending 18 May 2018 Project Update Week ending 18 May 2018 First Solar secures finance for May 2023, and the GST facility matures in May 2020. The Credit Facility is secured by NSW project pledges of the borrower’s assets, accounts, 11 May material project documents, and by the equity FS NSW Project No 1 Finco Pty Ltd, a limited interests in the entity. liability project financing company organized and existing under the laws of Australia and The Credit Facility contains customary an indirect wholly-owned subsidiary of First representations and warranties, covenants, Solar, Inc., entered into a term loan and events of default for comparable agreement with MUFG Bank, Ltd.; Société construction loan facilities in Australia. Générale, Hong Kong Branch; and Mizuho Bank, Ltd. (the “Credit Facility”). The Credit Source: First Solar Facility provides for aggregate borrowings of up to AUD 151.0 million ($113 million) and NOTE: First Solar is developing the 87 MW has been entered into for the development Beryl Solar Farm in NSW. and construction of a photovoltaic power plant of up to 87 MWAC located in New South Wales, Australia. Downer awarded Beryl Solar The Credit Facility consists of an AUD 140.0 Farm contract million ($105 million) construction loan 14 May facility, an AUD 7.0 million ($5 million) goods Downer EDI Limited (Downer) announced and service tax facility (“GST facility”) to fund today it had been awarded an Engineering, certain taxes associated with the construction Procurement and Construction (EPC) contract of the project, and an AUD 4.0 million ($3 worth approximately $150 million by First million) letter of credit facility. The Solar for the 87MWac Beryl Solar Farm construction loan facility bears interest at 1- located about five kilometres west of month Bank Bill Swap Bid Rate (“BBSY”) plus Gulgong, New South Wales (NSW). 1.55%, the GST facility bears interest at 1- month BBSY plus 1.00%, and the letter of “Large scale projects are critical to our credit facility bears interest at 1.10%. Interest regional communities and we are looking on the construction loan facility and the GST forward to partnering with First Solar to facility is payable monthly, and interest on the deliver the Beryl Solar Farm that will see letter of credit facility is payable quarterly. significant economic and environmental Upon completion of the project’s benefits in regional New South Wales,” said construction, the construction loan facility will Grant Fenn, the Chief Executive Officer of convert to a term loan facility, which bears Downer. interest at 3-month BBSY plus 1.45%, payable quarterly. The term loan facility matures in Page 1 (Click on relevant project links to go to online Project Database) “This includes direct and indirect job creation, footprint will cover approximately 152 support for local businesses, and the hectares on farmland currently used for crop development of skills in a growing renewable raising and grazing purposes, located 10 km to sector.” the southeast of Narrabri township. It is proposed to connect the site to the 66kV First Solar’s Vice President of Asia Pacific, Essential Energy approximately 520m to the Steven Jackson congratulated Downer on the south of the site. award. Contact: Yu Chan “We look forward to working with Downer to Senior Project Manager successfully deliver the project. The Beryl Canadian Solar Solar Farm will be one of the first large scale Tel: (03) 8609 1844 renewable projects to use First Solar’s Series 6 Email: [email protected] thin film photovoltaic modules. Series 6 modules deliver more watts per connection than crystalline silicon modules. This enables Pollution jumps as Australia Downer to realise construction cost savings while maximising the energy production for buries its head in the sand the project site, resulting in a lower levelised 14 May cost of energy.” Australia’s greenhouse gas pollution levels have jumped yet again, with the latest When in operation, the Beryl Solar Farm will national government data released just days see electricity generated with no water use, after climate change was forgotten in the no air emissions, and no waste production, Federal Budget. with the smallest carbon footprint of any PV technology available. Climate Council Acting CEO Dr Martin Rice said the Quarterly Update of Australia’s When completed, the 260,000 advanced solar National Greenhouse Gas Inventory released modules on the Beryl Solar Farm will produce overnight shows an increase of 1.5% in energy to run approximately 25,000 average greenhouse pollution levels over the last year NSW homes, displacing more than 167,000 (December 2017). metric tons of carbon dioxide emissions per year. “This is now the third consecutive year Australia has seen an increase in greenhouse Notice to proceed has been issued to Downer gas pollution levels. Yet, the Federal under the EPC contract and construction is Government continues to bury its head in the scheduled to take approximately 12 months. sand, despite the climate siren sounding for years,” he said. Source: Downer Group “This increase in emissions comes just days PROJECT NEWS after the Federal Government failed to Narrabri South Solar Farm introduce any funding measures to tackle intensifying climate change in the 2018 EIS for Canadian Solar’s proposed $80mil, 60 Budget.” MW Narrabri South Solar Farm placed on exhibition until 15 June. The project is “Australia is one of the most vulnerable effectively split into two “solar fields” (north countries to climate change in the developed and south fields) to protect existing native world, with worsening extreme weather vegetation centrally located on the site. The events including severe heatwaves, project will comprise approximately 200,000 supercharged storms, heavy rainfall, flooding, solar PV modules (Canadian Solar panels) on droughts and bushfires.” rows of single axis trackers. The development Page 2 (Click on relevant project links to go to online Project Database) “In fact, just this week we have seen Tasmania compliant with the New Zealand Takeovers hit with extreme rainfall and flooding, with Code. rainfall records smashed in the city of Hobart over a 24 hour period.” Mercury Chief Executive Fraser Whineray said Tilt is an established business operating Dr Rice said Australia was at serious risk of power plants in a growing renewables market, further cementing its reputation as a ‘global with a quality development pipeline, good climate laggard’ following the release of the governance, and a strong management team new data. with a proven track record. “As nations such as New Zealand continue to “Tilt has established a robust portfolio of show true climate leadership, Australia’s operating wind farms in both Australia and recent track record should serve as an New Zealand, as well as consented renewable embarrassment,” he said. generation projects which it can bring to market when conditions are right.” “The solution is here. Australia must demand credible climate and energy policy that For Mercury shareholders, this transaction is embraces our renewables boom, while aligned with our signalled strategy for transitioning away from ageing, polluting and economic growth, and follows the exploration inefficient fossil fuels. of other opportunities related to the electricity sector in Australia. “The window of opportunity to tackle climate change is rapidly closing and Australia must “The investment will allow Mercury to do its fair share instead of looking the other meaningfully participate in Australia’s way, all while our greenhouse gas pollution accelerating transition to renewable energy levels rise year after year.” sources,” Mr Whineray said. Source: Climate Council The investment may provide further opportunities for Mercury to deploy funds to capitalise on Tilt’s established Australian Mercury acquires stake in Tilt position as projects are developed. Renewables Limited “Together with its other shareholders, we 14 May look forward to being part of Tilt’s Mercury NZ Limited has reached agreement contribution to growing renewable electricity with the Tauranga Electricity Consumer Trust generation,” he said. (TECT) to acquire a 19.99% stake in Tilt Renewables Limited (Tilt). Source: Mercury NZ Mercury and TECT have agreed a total purchase price of $143,895,594.60 or $2.30 PROJECT NEWS per share, payable in cash. Tilt is a listed Silverton Wind Farm company on the NZX and the ASX with ticker First of GE Renewables’ 3.4MW 130 turbines code TLT on both exchanges. successfully commissioned and feeding into the grid at AGL Energy's Silverton Wind Farm Mercury has also secured an option to acquire near Broken Hill in western NSW. 58 turbines the remaining approximately 6.81% of Tilt will be installed in the first phase, with up to shares held by TECT at $2.30 per share, 172 turbines planned in total. payable in cash. The option is valid for six months. Any exercise of the option must be Page 3 (Click on relevant project links to go to online Project Database) New Report: Renewables - Australian gas prices have tripled over the past five years. takin’ care of Aussie business - Australia is experiencing a boom in 14 May renewable energy with over 5,000 megawatts Australian businesses are jumping on board (MW) of renewable energy projects under the renewables boom, with almost half of the construction in 2018. nation's major companies making the switch - Business installations of solar have increased to clean, affordable and reliable renewable by 60% over 2016 and 2017, with over 40,000 energy, in a bid to take control of their power commercial solar systems now installed in bills and tackle intensifying climate change, Australia. according to a new Climate Council report. - 46% of major Australian companies say they are actively procuring renewable energy. The ‘Renewables & Business: Cutting Prices & - 80% of Australians believe big business Pollution’ report shows that the number of should be using renewable energy.
Load more

Recommended publications
  • Zielmarktanalyse Australien
    www.exportinitiative.bmwi.de (A) Bereich für Bild AUSTRALIEN Energieeffiziente Lösungen für Infrastrukturentwicklung und Verkehr Zielmarktanalyse 2019 mit Profilen der Marktakteure www.german-energy-solutions.de Impressum Herausgeber German-Australian Chamber of Industry and Commerce Deutsch-Australische Industrie- und Handelskammer 8 Spring Street, Level 6 Sydney NSW 2000 Telefon: +61 2 8296 0400 E-Mail: [email protected] Webseite: www.germany-australia.com.au Stand 10.04.2019 Bildnachweis AHK Australien Redaktion Anja Kegel Director Consulting Services, Projects [email protected] Jürgen Wallstabe Consultant, Consulting Services, Projects [email protected] Mareile Teegen Consultant, Consulting Services, Projects & GTAI [email protected] Inhaltsverzeichnis I Tabellen 3 II Abbildungen 3 III Abkürzungen 4 1 Zusammenfassung 5 2 Länderprofil 6 2.1 Politischer Hintergrund 6 2.2 Wirtschaft, Struktur und Entwicklung 7 2.2.1 Aktuelle wirtschaftliche Lage 7 2.2.2 Außenhandel 8 2.2.3 Wirtschaftliche Beziehungen zu Deutschland 9 2.2.4 Investitionsklima und -förderung 9 3 Der Energiemarkt in Australien 10 3.1 Energieverbrauch 10 3.1.1 Energiebedarf und Aufteilung nach Sektoren 10 3.1.2 Energiequellen 12 3.1.3 Stromerzeugung und -verbrauch 13 3.2 Energiepreise 15 3.2.1 Strompreise 15 3.2.2 Gaspreise 15 3.2.3 Treibstoffpreise 16 3.3 Gesetzliche Rahmenbedingungen 17 3.4 Aktuelle Entwicklungen auf dem Energiemarkt 18 4 Energieeffiziente Lösungen für Infrastrukturentwicklung und Verkehr 21 4.1 Australische Trends mit
    [Show full text]
  • Community Information Booklet
    Community Information Booklet capitalbattery.com.au Gina Zheng, Project Manager [email protected] 1800 966 216 CONTENTS About Neoen 1 South Australia’s Big Battery 2 Delivering cheaper energy 3 Contribution to the Capital 5 What does a battery look like? 7 Project lifecycle 8 What can a battery do? 9 Facts & Figures 11 Choosing the site 12 Managed & operated in Canberra 13 Community Co-investment 14 FAQs 15 GLOBALLY The company is headquartered in Paris, EUROPE & AFRICA France, and has two Australian offices – in Finland Sydney and Canberra. AMERICAS Ireland USA France We operate across renewable energy Mexico Portugal technologies including solar, wind and storage El Salvador Zambia in Europe, Central America, Africa, the Middle Jamaica AUSTRALIA Mozambique East and Australia. Ecuador Australia Colombia Neoen’s total capacity in operation and under Argentina construction is currently over 3 GW and we are aiming for more than 5GW by 2021. LOCALLY Neoen Australia began operations in DeGrussa Solar and Storage Project Western Downs 2012. Over the last eight years the Green Power Hub company has initiated the development Dubbo Solar Hub Hornsdale Wind Farms 1, 2, 3 Parkes Solar Farm of more than 1.5GW of solar and wind Hornsdale Power Reserve Griffith Solar Farm projects through organic growth, local Coleambally Solar Farm partnerships and strategic acquisitions. Bulgana Green Power Hub Numurkah Solar Farm Neoen produce clean electricity from renewable sources such as sunlight and wind using mature, tried and tested technologies.
    [Show full text]
  • Energy Storage Report 2019
    21 FEBRUARY 2019 n WWW.RENEWS.BIZ RANKED N°1 The transatlantic IN RELIABILITY law firm close FOR BESS to home FIND OUT MORE Find out more here ENERGY STORAGE REPORT 2019 Storage spark for renewables MADE IN GERMANY CONTENTS 21 February 2019 ENERGY STORAGE 02 UK 03–09 Battery overdrive he global installation of energy service markets, such as the balancing n Developers get creative storage is surging as costs mechanism, are now the name of Energy storage is continue to fall and regulators the game. n Pivot’s ambitious play T n Eelpower and Orsted set to deliver step up efforts to facilitate batteries to “There was a very significant growth n Council and EU salt cavern schemes flourishing as costs help balance growing volumes of in interest in storage, particularly after intermittent generation. the enhanced frequency response Figures compiled by reNEWS show auction, which seems to have peaked,” IRELAND/GERMANY 10–12 fall and regulations around 2.5GW of 1MW-plus storage is said Anthony Price, director at UK loosen in the drive to due online in major markets in 2019 storage consultancy Swanbarton. — more than double the around 1GW “It has turned into a more mature balance grids, writes deployed last year. This expansion is market with more sophisticated types led by the UK, Australia, the US and of investors who are doing it with their Tim Probert South Africa. eyes open,” he added. Storage developers believe the Nonetheless, UK installations are n DS3 capped tender finally launched technology is on an unstoppable path due to hit almost 600MW in 2019, n Brandenburg flagship blueprint as renewables-plus-storage solutions which would top last year’s tally of n German power-to-gas nears reality become increasingly competitive with 460MW.
    [Show full text]
  • 2019 AGM Chairman's Address and Presentation
    18 July 2019 Chairman’s Address and Annual General Meeting Presentation The Chairman’s Address and the presentation, to be given at today’s Annual General Meeting, are attached. Claire Hamilton Company Secretary 2019 CHAIRMAN’S ADDRESS Mr Peter Mason AM, Chairman, AusNet Services Good afternoon and welcome to AusNet Services’ Annual General Meeting. I would like to take this opportunity to thank you, as shareholders, for your continued support of our company during the past year. For the financial year ended 31 March 2019, AusNet Services has provided a solid performance for shareholders, increasing dividends by 5% and recording total shareholder returns of 13.9%, whilst making good progress refining and implementing our strategy. Australia’s energy sector continues to undergo disruption, driven by technology change, an accelerating shift to renewables and increasing customer engagement. Customer choices are shaping the energy supply chain and energy consumers have unprecedented opportunities to participate more actively in the sector. Policy uncertainty abounds in a national energy market that, as a result of Australia’s federal system of government, is subject to a mix of policies from the federal government and six state and two territory governments. In my Chairman’s message in the 2019 annual report, I noted the pressure upon governments and regulators to determine policies to assist the industry in responding to this disruption. For AusNet Services we must have an investment environment which enables us to adapt our long established transmission and distribution networks to provide access and supply in a pattern for which they were not originally designed.
    [Show full text]
  • Debt Market Update
    Debt Market Update Q1 2018 A number of large leveraged buyout transactions, renewable energy project financings as well as general purpose Key themes corporate (re)financing contributed to the loan volume in Q1 2018. Notable transactions for the quarter included: • Australian bank debt market – expectedly • Image Bidco Pty Ltd, the borrower for private equity firm slow start to the year, with the quarter opening with leveraged buyout transactions and more Permira Advisers Ltd launched a A$690 million 5-year renewable energy projects year LBO loan to fund its takeover of X-ray provider I-Med Pty Ltd. The opening margins are 375bps over BBSY for • Australian domestic bond market – steady amortising term loan and 400bps over BBSY for bullet opening to the market with issuers continuing term and revolver tranches; to benefit from investor demand, increasingly at longer tenors • China Merchants became the first Chinese bank to lead • USPP – the market continues to work for the the financing of a leveraged buyout in Australia, winning domestic borrowers and complement the local a sole mandate on a A$400 million loan for the acquisition markets of Real Pet Food Co. The interest margin is 250bps over BBSY, which appears competitively priced, • Robust pipeline - with several large-scale infrastructure projects in the 2018 pipeline demonstrating strong demand for local credit; • Sydney Desalination Plant received A$1.6 billion in AUSTRALIAN DOMESTIC BANK DEBT MARKET funding to refinance its existing debt. The deal contains a A$500 million 11-year Ninja loan underwritten by MUFG Consistent with every opening quarter since 2001, the first and syndicated to Japanese lenders.
    [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]
  • Wind Map of Australia 2021
    LEGEND Place name 88 Under construction 88 Project 88 Operating Asset Main owner opened, Year expected completion Capacity (MW) Asset Main owner opened, Year expected completion Capacity (MW) WESTERN AUSTRALIA NEW SOUTH WALES 5km wind map Mean wind speed at 80m 1 Collgar REST 2011 206 107 Sapphire Partners Group 2018 270 108 Silverton Powering Australian 2020 200 11 21 32km/h 2 Badgingarra APA Group 2019 130 Renewables 3 Walkaway 1 Infigen Energy 2006 89 109 White Rock Wind Farm Stage 1 CECWPC 2018 175 4 Emu Downs Wind APA Group 2006 80 110 Gullen Range Beijing Jingneng Clean 2014 166 DARWIN 5 Mumbida Infrastructure Capital Group 2013 55 Energy Australia 6 Albany Bright Energy 2001 21 111 Capital Infigen Energy 2009 141 7 Agnew Mine Hybrid EDL 2020 18 112 Crudine Ridge Partners Group 2020 135 Wind Map of 3 6 9m /s 8 Grasmere Bright Energy 2012 14 113 Bodangora Infigen Energy 2019 113 9 Karakin Wind Farm Blair Fox 2013 5 114 Boco Rock EGCO 2014 113 10 West Hills Wind Farm Blair Fox 2012 5 115 Taralga Pacific Hydro 2015 107 11 Nine Mile Synergy 2003 4 116 Crookwell 2 Naturgy 2018 91 12 Port Gregory Advanced Energy Resources 2019 3 117 Woodlawn Infigen Energy 2011 48 13 Mt Barker Mt Barker Power 2011 2 118 Gunning Wind Acciona 2011 47 Australia 2021 14 Ten Mile Lagoon Synergy 1993 2 119 Cullerin Range Energy Developments 2009 30 15 Denmark Community Denmark Community 2010 2 120 Blayney Tilt Renewables 2001 10 The Wind Map of Australia 2021 shows approximate locations of wind projects bigger than 1MW operating, under construction or in the planning 16 Kalbarri Synergy 2008 2 121 Crookwell Tilt Renewables 1998 5 process as of December 2020.
    [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]
  • Supplementary Submission No 6A SUSTAINABILITY of ENERGY SUPPLY and RESOURCES IN
    Supplementary Submission No 6a SUSTAINABILITY OF ENERGY SUPPLY AND RESOURCES IN NSW Name: Mr Adrian Ingleby Date Received: 6 May 2020 Adrian Ingleby 5th May, 2020 My second submission to the inquiry on Sustainability of energy supply and resources in NSW Re :- The inquiry’s terms of reference having been updated to reflect new economic challenges facing NSW in light of the COVID-19 pandemic. In addition to the existing terms of reference, the Committee will also consider the capacity and economic opportunities of renewable energy for workforces, industries, and the wider economy impacted by COVID-19. 1. In my first submission [on page 3] I said, “The renewable energy revolution can’t be stopped.” That claim remains true, however, it can be impeded and slowed down. Who has the power to impede the renewable energy revolution? 2. Politicians, governments, opposition parties at a state, territory and federal level. Why impede? - when our planet is threated by global warming and climate change? 3. The main source of energy supply to NSW and Australia over the past 100 years has been via fossil fuels in the form of coal, gas and oil. The lobby groups representing those industries support the two major political parties [LNP/Nationals & Labor] at a state, territory and federal level with massive donations. The sums of money donated are in almost equal amounts to the presiding government and its opposition. The fossil fuel energy sector have the advantage of being the larger long-serving incumbent energy supplier with established political contacts. They want to protect their business model and defend it against any opposition ie the renewable energy sector.
    [Show full text]
  • Market and Regulatory Update Australian Energy Storage Alliance Conference
    MARKET AND REGULATORY UPDATE AUSTRALIAN ENERGY STORAGE ALLIANCE CONFERENCE SUZANNE FALVI, EGM SECURITY AND RELIABILITY 12 JUNE 2019 Overview 1. National electricity market 2. Governance of energy markets 3. Changing power system 4. AEMC reform priorities 5. Regulatory projects relevant to storage 2 National electricity market • >40,000 km of transmission lines • ~200 TWh of electricity to businesses and households each year • Total electricity generating capacity of almost 54,421 MW (as at Dec 2017) • >$18 billion annual turnover in 2018 3 NEM market design WHOLESALE MARKET (Generators sell their power to retailers) RETAIL MARKET NATURAL MONOPOLIES METER ELECTRICITY SUPPLY CHAIN ELECTRICITY TRANSMISSION DISTRIBUTION RETAILER GENERATION NETWORK CONSUMERS More consumers are buying and selling power NETWORK REGULATION The rules enable the regulator to set the maximum prices network business AEMC MAKES AUSTRALIAN ENERGY REGULATOR can charge for services they provide. THE RULES RULES (AER) APPLIES THE RULES Prices are set every five years. Natural Monopoly Sector Component Competitive Sector Component 46.5% 53.5% Based on the average NSW residential bill in 2017/2018. Source: AEMC Price Trends 2018 4 National governments and energy policy development COAG COAG Energy Council Council of Australian COAG Energy Council Governments (COAG) is made up of the nation’s implements policy reforms of energy ministers. They provide national significance that require national leadership on energy cooperative action by federal, market development which state and territory governments is so important for the health of the national economy 5 Market body roles AEMC AER AEMO Australian Energy Australian Energy Australian Energy Market Commission Regulator Market Operator Rule maker, market Economic regulation Electricity and gas systems developer and expert adviser and rules compliance and market operator to governments Polices the system and Works with industry Protects consumers and achieves monitors the market.
    [Show full text]
  • Transmission Loss Factors) Rule 2020
    Australian Energy Market Commission RULE DETERMINATION RULE NATIONAL ELECTRICITY AMENDMENT (TRANSMISSION LOSS FACTORS) RULE 2020 PROPONENT Adani Renewables 27 FEBRUARY 2020 Australian Energy Rule determination Market Commission Transmission loss factors 27 February 2020 INQUIRIES Australian Energy Market Commission PO Box A2449 Sydney South NSW 1235 E [email protected] T (02) 8296 7800 F (02) 8296 7899 Reference: ERC0251 CITATION AEMC, Transmission loss factors, Rule determination, 27 February 2020 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 Rule determination Market Commission Transmission loss factors 27 February 2020 SUMMARY 1 The Australian Energy Market Commission (AEMC or Commission) has made a more preferable rule to provide the Australian Energy Market Operator (AEMO) with greater flexibility to refine and improve the methodology to determine marginal loss factors (MLF). 2 This final rule complements the recent changes the Commission has made to the National Electricity Rules (NER) on improving the transparency of new generation projects.1 It also supports AEMO's work to improve the transparency and predictability of loss factors. Together, these changes are in the long term interest of consumers as they will enable better, more informed decision-making for prospective investors of generation assets.
    [Show full text]
  • Victorian Market Readiness to Support the Early Retirement of Yallourn Power Station for Environment Victoria
    VICTORIAN MARKET READINESS TO SUPPORT THE EARLY RETIREMENT OF YALLOURN POWER STATION FOR ENVIRONMENT VICTORIA DECEMBER 2019 Victorian market readiness to support the early retirement of Yallourn power station Document: Final Report Pages: 34 Date: 12 December 2019 Client name: Environment Victoria Team: Electricity advisory Sector head: Bret Harper, Director of Energy and Carbon Markets Revisions: Added clarifying charts and text to Section 5.2 Change in Installed Capacity in Victoria. ABOUT REPUTEX Established in 1999, RepuTex is a leading provider of advanced modelling services for the Australian electricity, renewable energy and emissions markets. Our forecasts and analysis have been at the forefront of energy and climate thinking for over two decades, with a strong history of providing trusted, data-driven analysis for public and private sector customers in Australia and Asia. We have worked with over 150 customers across Australia and Asia-Pacific – including government policymakers, regulators, large energy users and large emitters, project developers and investors. RepuTex has offices in Melbourne and Hong Kong, with a team of analysts with backgrounds in energy commodities, policy, meteorology and advanced mathematics. The company is a winner of the China Light and Power-Australia China Business Award for energy and climate research across Asia-Pacific. To learn more, please visit www.reputex.com REPUTEX ENERGY | Victorian market readiness to support the early retirement of Yallourn power station 2 CONTENTS 1. EXECUTIVE SUMMARY
    [Show full text]