Independent advice to ESB warned against capacity mechanism championed by Angus Taylor, and which may pay coal plants to do things they can’t do.
National Electricity Market could be deeply fractured by the split among states and industry over the design of reforms designed to bring it into 21st century.
The number of negative pricing events jumped to nearly 5,000 in past year as rooftop solar reduced demand and coal generators tried to avoid shutting down.
Regulator cites “1,000 days of baseload outages” as reason for highest electricity prices on record. And it wants a “capacity” market?
New rules mean solar homes will need to pay to access the best feed-in-tariffs and avoid curtailment.
TransGrid submits proposal for HumeLink transmission link, estimating it could deliver almost $500 million in benefits.
New rules championed by Angus Taylor could benefit coal and stifle the pace of the clean energy transition. “It’s terrible,” said one insider.
Nearly 5GW of coal capacity in NSW and Queensland was missing when Callide coal generator exploded and took out another 2.5GW.
The failure of policy makers and regulators is now being felt in the electricity market, and consumers are being sent the bill.
Australia’s fossil fuel-based electricity oligopoly is being slowly broken down by the influx of wind and solar, regulator says.