The Australian Government plan to introduce a National Energy Guarantee to deliver an affordable and reliable energy system.
The Liddell Taskforce was required by its Terms of Reference to model the impact on wholesale and retail power prices from Liddell’s closure, and the options identified to maintain similar price, reliability and security outcomes. The Taskforce commissioned Frontier Economics to undertake the modelling work.
The modelling shows that if Liddell closes and is not replaced, NSW average wholesale prices could rise from the low $60s per megawatt hour (MWh) in 2022 to around $80 per MWh in 2024; and continue increasing to $105 per MWh by 2030.
In 2015, AGL announced it would close Liddell Power Station in 2022. AGL later extended this to April 2023. This would make Liddell the next in a series of coal power station closures. In the past 10 years closures have removed over 5000MW of capacity from the National Electricity Market (NEM).
The Australian Energy Market Operator warned there would be a higher risk of blackouts in NSW after Liddell closes, without more investment in dispatchable power. As a result of these concerns the Australian Government set up the Liddell Taskforce in August 2019.
National Cabinet support for households and small businesses facing hardship in paying for essential services (11 principles).
This registration of interest (ROI) closed on 23 January 2019. Documents remain available for reference only.
From 13 December 2018 and to 23 January 2019 the Australian Government called for registrations of interest for projects under the Underwriting New Generation Investment program.
The Australian Government is:
- delivering an affordable and reliable energy system
- putting energy consumers first
- taking real and practical action to reduce emissions and meet our international commitments
To provide clarity around the operation of the Treasury Laws Amendment (Prohibiting Energy Market Misconduct) Bill 2019 the government has developed a guide.