Australian Energy Market Operator

The operator of the 150 MW/193 MWh Hornsdale Power Reserve in South Australia has been fined $900,000 after being sued by the Australian Energy Regulator for failing to deliver on its promise of providing services essential to maintaining the stability of the power grid.

New South Wales Energy Minister Matt Kean said the state government is unlikely to use new emergency powers granted to ensure energy supply is maintained after the market operator advised conditions in the grid were improving.

As Australia battles an energy crisis, the United Nations secretary general has called for increased investment in renewables, saying it is the only “true path to energy security”, warning new funding from governments for fossil fuel exploration or production is simply “delusional”.

With industry figures warning Australia is on the “precipice” of an energy crisis, federal, state and territory ministers will meet next week to discuss the situation with skyrocketing gas, petrol and electricity prices being described as a “perfect storm”.

The proposed 240 MWp/480 MWh Mornington big battery project being developed by solar and energy storage specialist Maoneng on Victoria’s coast is a step closer to realisation with the Australian Energy Market Operator (AEMO) providing grid connection assessment approval.

Western Australia has been offered a glimpse of its energy future with the $35 million Project Symphony aggregating its first package of residentially generated energy and successfully participating in a simulated two-way Wholesale Electricity Market.

Pumped hydro energy storage is ideally positioned to support reliability and reduce volatility in the energy market as Australia shifts from fossil fuels towards renewable power with former prime minister Malcolm Turnbull labelling the technology the “ultimate long-duration storage” solution.

Origin Energy’s announcement that it is accelerating the closure of Australia’s largest coal-fired power station has triggered calls for the Federal Government to develop a nationally co-ordinated approach to manage the retirement of fossil fuel generation as well as support investment in new clean energy generation.

Renewables have continued their rise in Australia’s energy market with a new report published by the Australian Energy Market Operator revealing grid-scale solar, wind, hydro and rooftop solar PV provided almost one-third of the National Electricity Market’s power needs during the December quarter.

The latest estimates of electricity generation costs in Australia have confirmed solar and wind continue to be the cheapest sources of new-build electricity generation, even when factoring in additional integration costs such as storage and new transmission infrastructure.