Aussies Could Save $100B on Electricity If There’s Clear Government Policy

Jon Capistrano
Jon Capistrano
May 4, 2017

Australia’s electricity and gas transmission industry have strengthened their call for a market mechanism to drive orderly transformation in the energy sector, warning a lack of clear regulation will result in higher prices for consumers and a less secure grid.

Energy Networks Australia (ENA) says clear policy settings could ultimately save Australian energy customers $100B and allow a smooth transition, where large-scale variable renewable energy can be integrated securely, creating the prospect of Australia’s electricity sector and reaching zero net carbon emissions by 2050.

A new roadmap that was just recently released stated the energy market is in the middle of a profound transformation that will only intensify over the next 20 years.

The modelling produced in the report suggests that by the year 2050, up to 45% of Australia’s electricity supply could be provided by millions of distributed, privately owned generators in businesses and homes.

The report’s estimated $100B in cost savings is a function of governments rolling out consistent policies that would encourage the two parts of the system to work harmoniously together with the current poles and wires of the national market and the virtual grids in businesses and homes.

John Bradley, ENA’s chief executive stated that with stable policy settings, the networks could buy grid support from customers instead of building their own infrastructure. The report also suggested that by the year 2030, about 40% of generation will come from renewable technologies in Victoria and Western Australia, with an increasing share in New South Wales and Queensland as many coal generators are closed.

Click here to read the full story in The Guardian

Leave a Reply

Your email address will not be published. Required fields are marked *

Share on facebook
Share on twitter
Share on linkedin
OUR MOST POPULAR POSTS

Trending Posts

The Advantages of Solar Batteries in Bad Weather
Solar

The Advantages of Solar Batteries in Bad Weather

Solar batteries can make a huge difference to the average home during bad weather. In years gone by if the power went out, there was little a household could do but light some candles and wait for electricity to be restored.