The Australian Government plan to introduce a National Energy Guarantee to deliver an affordable and reliable energy system.
Commonwealth-Tasmania Bilateral Energy and Emissions Reduction Agreement.
In a move to secure Victoria’s energy system, the Australian Government will safeguard Alcoa’s Portland aluminium smelter’s continued delivery of emergency power reserves to the market.
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.
The Report for Achieving Low Energy Existing Homes sets out practical options that informed the Trajectory Addendum for achieving zero energy (and carbon) ready existing homes.
The Australian Government has approved Snowy 2.0 which will see the expansion of Australia’s iconic Snowy Mountains Hydroelectric Scheme. Snowy 2.0 is a key part of government initiatives to deliver affordable and reliable power.