New South Wales

The New South Wales Legislative Assembly’s Committee on Environment and Planning has launched an inquiry into the future sustainability of the state’s energy supply and resources. The question being asked: “What does the future of energy look like in NSW?”

New research released this week by The Australia Institute shows that ‘time of use pricing’ (ToU) facilitated by smart meters is likely to drive up household energy costs by $429 a year on top of already high prices. Analysis of national electricity market data suggests that demand for electricity in Australia is very inelastic, which makes ToU more likely to increase the profits of electricity companies than to assist consumers. Households with solar PV and batteries, however, are best suited to cope with this type of pricing. 

The new NSW Berejiklian Governmenthas followed through on the pre-election promisefor interest-free loans for battery and solar-battery systems, with installations expected to begin this summer 2019/2020.

After requesting a trading halt with the ASX on their securities, Genex Power Limited (‘GNZ’) has announced a single tranche placement of approximately $16.2 million via the issue of 67, 482, 878 shares, in order to fund the equity requirements for the Jemalong Solar Project (JSP).

The Berejiklian government is gearing up to deliver on its election pledge and roll out interest-free loans for home battery systems. The program holds the promise to help up to 300,000 households save hundreds of dollars on their power bills.

Walcha Energy – a joint venture between Australian developers Energy Estate and Mirus Wind – has lodged the scoping report with the NSW planning authorities for a 700 MW solar farm, a 100MW/150MWh battery and its plans for a renewable energy hub at Uralla.

Metka Egn has announced the acquisition of six projects located in New South Wales and Queensland.

On the back of a successful trial in South Australia, AGL is expanding its virtual power plant to other states. Under the program, customers will be able to save up to $280 a year on their electricity bills and be offered an upfront payment of $1,000 towards the cost of their battery.

The Beryl Solar Farm has commenced commercial operations. The 87MW AC/110MW plant is supplying electricity for Sydney Metro under a 15-year power purchase agreement.

UNSW Sydney will start procuring all of its electricity from a NSW solar farm by next year and gradually expand onsite solar energy generation by 2022, as well as improve energy and water efficiency to reduce its environmental footprint.