Price of electricity the lowest since 2012

Original article by Perry Williams
The Australian – Page: 7 : 28-Apr-21

Data from the Australian Energy Market Operator shows that wholesale electricity prices fell to the lowest level since 2012 during the first three months of 2021. The wholesale price in New South Wales averaged $38 per megawatt hour, compared with $86MWh for the March 2020 quarter; the wholesale price in Victoria averaged $25MWh, down from $79MWh previously. Demand for electricity fell during the quarter due to factors such as the increase in solar power generation and the lowest average temperatures for the period since 2012.

CORPORATES
AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

Coalition rebuffed over need for coal-fired power stations

Original article by Greg Brown
The Australian – Page: 4 : 12-Apr-21

A report from the Grattan Institute has concluded that gas will play a key as Australia transitions to a net-zero emissions electricity grid. The report also cautions against shifting to complete reliance on renewables; it contends that the electricity grid can shift to 70-90 per cent renewables in the 2040s with no major impact on the affordability or reliability of the electricity system. Grattan Institute director Tony Wood adds that there is no need to build new coal-fired power stations or to refurbish existing ones to extend their operational life.

CORPORATES
GRATTAN INSTITUTE

Energy regulator probe a challenge for Victorian electricity grid expansion

Original article by Perry Williams
The Australian – Page: Online : 8-Jan-21

The Moorabool Central Highlands Power Alliance has alleged that the Australian Energy Market Operator breached three national electricity rules. The Alliance claims the breaches took place during AEMO’s regulatory test for the $370 million Western Victorian Transmission Network Project, which is aimed at easing renewable energy bottlenecks and includes a new terminal station north of Ballarat. The Alliance represents 110 community groups whose members reside near the proposed powerline expansion, and it has raised its concerns with the Australian Energy Regulator.

CORPORATES
AUSTRALIAN ENERGY MARKET OPERATOR LIMITED, AUSTRALIAN ENERGY REGULATOR

Renewables cutting power bills

Original article by Patrick Commins
The Australian – Page: 2 : 21-Dec-20

The Australian Energy Market Commission has predicted Australian households will pay around nine per cent less for electricity in 2023 than they are at the moment, with the Commission’s forecast based on a combination of cheaper renewable power and falling gas prices. Looking at individual states, Victorian households can expect to pay 15 per cent less by 2022-23, but New South Wales households can only expect to pay two per cent less, due to the closure of the Liddell coal-fired power plan

CORPORATES
AUSTRALIAN ENERGY MARKET COMMISSION

Extra power locked in for summer

Original article by Angela Macdonald-Smith
The Australian Financial Review – Page: 26 : 27-Nov-20

The Australian Energy Market Operator has released its ‘summer readiness’ plan for the power market. AEMO has contracted over 1,900 megawatts of extra emergency power generating capacity for the 2020-21 summer peak, although heatwave and bushfire conditions are not expected to be as severe as in 2019-20. AEMO COO Michael Gatt notes that heatwaves and bushfires remain a "prominent risk", while predicted El Nino weather patterns means there is an increased risk of tropical cyclones and flooding.

CORPORATES
AUSTRALIAN ENERGY MARKET OPERATOR LIMITED

AGL buys Amaysim energy unit

Original article by Perry Williams
The Australian – Page: 18 : 1-Sep-20

AGL Energy’s customer base will increase by 215,000 to 4.2 million following a deal to buy Click Energy from listed telco Amaysim. The $115m deal will be financed via AGL’s existing debt facilities. Amaysim CEO Peter O’Connell says trading conditions in the electricity sector are challenging at present, with a further increase in bad debts likely. Meanwhile, Amaysim has posted a 2019-20 underlying profit of $600,000; this follows a $7.1m loss previously.

CORPORATES
AGL ENERGY LIMITED – ASX AGL, AMAYSIM AUSTRALIA LIMITED – ASX AYS, CLICK ENERGY

Rapid shift to renewable energy could lead Australia to cheap power and 100,000 jobs

Original article by Adam Morton
The Guardian Australia – Page: Online : 29-May-20

Climate change thinktank Beyond Zero Emissions has called for 90 gigawatts (GW) of renewable energy capacity and 20GW of batteries to be built over the next five years. It estimates this would create 124,000 construction jobs and 22,000 ongoing jobs. Beyond Zero Emissions also states there should be local content requirements for wind turbines, batteries and transmission components, saying this could create 15,000 manufacturing jobs, and that a wind energy manufacturing industry could be easily created by converting old factories.

CORPORATES
BEYOND ZERO EMISSIONS INCORPORATED

Virus shorts electricity demand

Original article by Perry Williams
The Australian – Page: 13 & 20 : 16-Apr-20

RepuTex has forecast that demand across Australia’s national electricity market will fall by 22.5 per cent in May due to the coronavirus lockdown. The consultancy also warns that wholesale electricity spot prices could fall below $40 per megawatt hour, which in turn could result in high-cost coal-fired power stations operating at a loss. The wholesale spot price has already fallen to around $45/MWh in most states, although RepuTex says this could rise to around $60/MWh in June if lockdown restrictions begin to ease.

CORPORATES
REPUTEX AUSTRALIA PACIFIC PTY LTD

Forrest in $68m renewables play takeover

Original article by Nick Evans
The Australian – Page: 20 : 5-Mar-20

Squadron Energy, the private company of mining magnate Andrew Forrest, has made a takeover bid for Windlab, a listed wind farm developer and operator. Squadron has teamed up with Federation Asset Management to offer $1 per share for Windlab, valuing the bid at $68.2m. Windlab shares rallied on 4 March, closing at $0.965; investors had paid $2 per share in its 2017 IPO. Squadron is expected to have a 75 per cent stake in Windlab if the deal proceeds.

CORPORATES
WINDLAB LIMITED – ASX WND, SQUADRON ENERGY PTY LTD, FEDERATION ASSET MANAGEMENT PTY LTD

Spending on large-scale renewable energy in Australia plunges

Original article by Peter Hannam
The Age – Page: Online : 17-Jan-20

Bloomberg New Energy Finance research indicates investments in large-scale renewable energy projects in Australia fell by 56 per cent in 2019. The decline in renewable energy investment in Australia was at odds with trends globally, and can be attributed to a lack of long-term policy certainty at the federal level. Federal Energy and Emissions Reduction Minister Angus Taylor says reducing the cost of storage and backup will help to ensure continued growth in new renewable investment.

CORPORATES
BLOOMBERG NEW ENERGY FINANCE,{SPAC}AUSTRALIA. DEPT OF THE ENVIRONMENT AND ENERGY