More than $ 12 billion in investment in new transmission lines should begin “as urgently as possible” to ensure a secure electricity supply over the next decade, according to the Australian energy market operator (AEMO) .
Key points:
- The AEMO says: “All actionable projects should progress as urgently as possible”
- He says “there are no quick fixes” on his 30-year roadmap
- Federal Energy Minister says government supports AEMO’s vision of transforming the electricity grid
Five projects in New South Wales, Victoria and Tasmania have been highlighted as key priorities for federal and state governments to approve and move forward.
The call for urgent action was issued in AEMO’s latest “Integrated System Plan” (ISP), its 30-year roadmap for providing reliable and affordable electricity while achieving zero net emissions on 2050.
“All actionable projects should progress as urgently as possible,” the report states, noting that accelerating the five key transmission projects would provide “valuable insurance” against the shutdown of coal-fired power plants faster than expected. I expected.
The five projects: HumeLink, VNI West, Marinus Link, Sydney Ring and New England REZ Transmission Link, are currently being evaluated for regulatory approval or should begin this process soon.
Overall, the projects are estimated to cost $ 12.8 billion, but are considered critical to support future electricity generation and storage options.
HumeLink would connect the electricity generated by Snowy 2.0 to the grid, while Marinus Link is vital for Tasmania’s pumped hydroelectric and wind projects to connect to the mainland.
The five priority projects are in addition to seven other transmission links that are already under development.
“Australia is experiencing a complex, rapid and irreversible energy transformation,” AEMO CEO Daniel Westerman said in a statement.
Forecast of AEMO electricity sources until 2050.
There are no “quick fixes” to the new plan
Transmission upgrades are needed to allow nationwide renewable energy and storage facilities to connect to the grid, and to accommodate the “two-way” flow of storage facilities and solar energy on the roof.
Coal-fired power plants that plan to close earlier than planned are added to the pressure to quickly modernize the power grid.
“Australia’s energy future is a matter of great national urgency,” the report said, noting that 100% of electricity on the east coast could sometimes be provided by renewable energy as soon as possible. as in 2025.
“This plan is for a true transformation of the National Electricity Market, from fossil fuels to consolidated renewables. It calls for levels of investment in generation, storage, transportation and system services that exceed all previous combined efforts.
“It can’t offer quick fixes, but it offers a clear and transparent roadmap until 2030, and then into 2040 and 2050.”
Westerman echoed this, but added that the power crisis on the east coast reinforced the need to make changes and build new projects as soon as possible.
“Recent events reinforce the need to accelerate investment in generation, storage and transmission to disengage us essentially from these international price shocks,” he said.
ISP figures suggest that it will take $ 320 billion in investment from both the public and private sectors to completely transform the electricity grid, including providing new generation and energy storage, by 2050.
State and federal governments are reversing the roadmap
The victory in the federal election of Labor will accelerate the transformation of the electricity grid, having come to power promising to spend $ 20 billion on transmission improvements in a policy called “Reclaiming the Nation.”
The AEMO report notes that state governments “have long supported this investment” and labor policy “will support the timely and effective delivery of the ISP roadmap”.
Speaking before the report was released, Climate Change and Energy Minister Chris Bowen accepted AEMO’s vision for the future of the network.
“It’s a roadmap for the transmission revolution the country needs,” he said.
“I look forward to working with my fellow Energy Ministers to modernize the network, implement the ISP and provide the country with more renewable energy, more transmission and more storage.”
Westerman also said he hoped state and territorial governments would speed up their transition to renewable energy sooner rather than later.
“That is why we call for urgent action and investment in renewable energy, in reaffirmations, capacity and transmission so distributable, so that energy is there with the lowest cost and the most reliable way for Australians when they shut down coal-fired power plants.” , he said. dit.
AEMO calls for the participation of the community and businesses
Regional communities and landowners are already facing massive infrastructure developments, including high-voltage power lines that cut through their landscapes.
New developments are likely to lead to greater community frustration over where power lines, substations, generators and storage sites will be located.
The AEMO has acknowledged the growing problem, with its report calling for “industry and communities to get involved, help solve problems, and ultimately support and benefit from this investment.”
“The National Electricity Market is able to supply enough low-emission electricity to support the nation’s most ambitious economic and environmental goals, but it needs a clear social license for the scale of investment needed,” he says.
Posted 8 h 8 hours agoWednesday, June 29, 2022 at 6:43 PM, updated 4 hours ago 4 hours agoWednesday, June 29, 2022 at 11:01 PM