Delay in construction of renewable energy 'superhighway' raises concerns for power grid – Business News (Trending Perfect)

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Australia's coal-dominated energy sector is undergoing a rapid transformation, with at least half of the remaining 14 coal-fired generators on the east coast set to close within the next decade, while the share of renewable energy in the energy mix continues to decline. the growth.

However, governments are becoming increasingly concerned that they will not build enough renewable energy, storage and transmission projects to keep energy supplies and prices stable as the end of coal approaches.

“Australia's major energy transition – from fossil fuels to renewables – is not going well.”

Tony Wood, Energy Director, Grattan Institute

While grid operator ElectraNet has completed construction of the 200km South Australia section of EnergyConnect, Transgrid said it is continuing to progress work on the 700km NSW section.

Transgrid CEO Brett Redman said the first phase of its project, which was scheduled to enter service in the June quarter of this year, was now scheduled to enter service in the September quarter, when AEMO would begin inter-grid testing.

The second phase of the project will be completed and in service by the June quarter of 2026, Redman said.

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“Our key stakeholders have been notified, including relevant South Australian, New South Wales and Commonwealth government departments, as well as relevant ministers,” he said.

As concerns grow about energy security on the east coast, the Minnies state government in New South Wales has held secret talks with Origin Energy about potential financial support to prolong the operation of the Eraring plant on the shores of Lake Macquarie.

The Victorian government has already intervened to ensure two of its largest coal generators – Energy Australia's Yallourn and AGL's Low Young A – do not close prematurely.

“Australia's major energy transition – from fossil fuels to renewables – is not going well,” said Tony Wood, director of energy at the Grattan Research Institute.

“Governments have lost confidence in the market's ability to deliver enough electricity to the right places at the right time, consumers are angry about rising energy prices, and investors are spooked by frequent and unpredictable government interventions.”

AEMO's Electricity Opportunity Statement report update, which is usually published annually, only takes into account existing projects or those it considers “committed” or “prospective”.

Westerman said reliability forecasts improved when taking into account potential energy projects deemed “viable,” as well as potential new capacity set to come to market via the first phase of the federal government’s Capacity Investment Plan, which targets 32 gigawatts of subsidized new capacity. Renewable energy by 2030.

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