Australian Energy Market Operator signals it will likely end its market intervention this week
2 years, 6 months ago

Australian Energy Market Operator signals it will likely end its market intervention this week

ABC  

The unprecedented suspension of Australia's east coast energy market could be lifted as early as Thursday but the market operator is warning the challenges managing supply and demand may continue. Key points: The AEMO suspended the wholesale electricity spot market last week It intervened in the market amid reliability and blackout fears The AEMO will gradually lift its suspension if it is confident in the supply of electricity The Australian Energy Market Operator last week seized control of the east coast energy market for the first time in its history after days of volatility put several states at risk of blackouts. The federal government backed the intervention, acknowledging the energy market had effectively failed, and credited the AEMO with successfully managing to avoid both blackouts and load shedding as temperatures on the east coast plummeted. "These criteria will … give AEMO sufficient confidence that it can end the market suspension with minimal risk of the same conditions re-emerging in the very short term," AEMO said in a statement.

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Energy market operator warns of potential blackouts across the state, with NSW and Sydney expected to swelter
1 month ago

Energy market operator warns of potential blackouts across the state, with NSW and Sydney expected to swelter

ABC  

NSW is facing heightened blackout warnings with both temperature and energy demands forecasted to soar in the coming days. A severe heatwave impacting the eastern inland of NSW will peak across Sydney through Tuesday and Wednesday when temperatures across the western suburbs are expected to hit close to 40 degrees Celsius — the hottest spring weather seen in four years. …

Warnings grow of blackout risks in summers ahead as NSW looks at extending Eraring coal plant
7 months ago

Warnings grow of blackout risks in summers ahead as NSW looks at extending Eraring coal plant

ABC  

In short: Energy market operator AEMO has warned delays in transmission projects and looming retirements of coal generators risk blackouts in future. Energy market operator AEMO has warned delays in transmission projects and looming retirements of coal generators risk blackouts in future. The national energy market operator has issued new warnings of possible summer blackouts in coming years, due to …

Energy transition will lead to lower power prices but getting there could be costly, reports warn
2 years, 2 months ago

Energy transition will lead to lower power prices but getting there could be costly, reports warn

ABC  

After a turbulent year in the energy sector, two major reports released today have highlighted energy affordability as a significant challenge in Australia's transition away from fossil fuels to renewable power. Key points: The State of the Energy Market looks back on a year of change, including the unprecedented suspension of the wholesale electricity spot market in June It has …

AEMO warns of power 'gaps' in Australia's biggest grid within three years as coal exodus gathers pace
2 years, 3 months ago

AEMO warns of power 'gaps' in Australia's biggest grid within three years as coal exodus gathers pace

ABC  

Electricity supplies are forecast to fall short of demand within three years across Australia's eastern grid, unless new renewable energy and transmission capacity is urgently brought online, according to an official report. Key points: The market operator warns power supplies in Australia's biggest grid could run short from 2025 AEMO says massive coal plant closures combined with greater demand are …

Consumer confidence in Australia's energy system suffers steepest-ever plunge
2 years, 3 months ago

Consumer confidence in Australia's energy system suffers steepest-ever plunge

ABC  

Confidence in Australia's main electricity market has suffered its sharpest ever collapse as the crisis engulfing the east coast energy industry hits home for consumers. Key points: There are predictions households face multiple price hikes in the coming year amid the energy crisis Experts say the pricing system is "regressive" and that governments need to try to help consumers Confidence …

Is our energy supply in crisis? What's the National Electricity Market? Can it be fixed?
2 years, 6 months ago

Is our energy supply in crisis? What's the National Electricity Market? Can it be fixed?

ABC  

We saw something unprecedented last week. The NEM supplies around 10.7 million customers, Factsheet: the National Electricity Market, December 2021) The entities that generate electricity for the system use a range of energy sources and that "generation mix" is transforming rapidly. Australia's energy spot market suspended by market operator Photo shows roofs of houses, most of them with solar panels …

Explained | Why is Australia facing an electricity crisis despite being a top exporter of coal and gas?
2 years, 6 months ago

Explained | Why is Australia facing an electricity crisis despite being a top exporter of coal and gas?

The Hindu  

The story so far: On Thursday, June 16, Chris Bowen, the Energy Minister of Australia — the world’s biggest exporter of coal and Liquified Natural Gas — asked the residents of its most populous state New South Wales, to conserve power as much as possible during the peak demand hours of 6 pm to 8 pm to prevent blackouts. This …

Energy market intervention will last 'as long as it needs to', Chris Bowen says
2 years, 6 months ago

Energy market intervention will last 'as long as it needs to', Chris Bowen says

ABC  

The Federal Energy Minister insists the unprecedented market intervention to avoid blackouts across the east coast will continue for as long as necessary, throwing his full support behind the nation's energy regulators. Key points: The energy market operator yesterday took an unprecedented step to take control of the market The federal government says it backs the decision and the AEMO …

Australian Energy Market Operator suspends spot market for wholesale electricity to ensure reliability and avoid blackouts
2 years, 6 months ago

Australian Energy Market Operator suspends spot market for wholesale electricity to ensure reliability and avoid blackouts

ABC  

The Australian Energy Market Operator has taken the extraordinary step of suspending the spot market for wholesale electricity across the country. Key points: The electricity sector has been dealing with soaring costs It forced AEMO to cap prices and compel generators to offer their services Now the spot market for wholesale electricity has been suspended to try and ensure reliability …

Power uncertainty hits multiple states as AEMO makes moves to cover shortfalls
2 years, 6 months ago

Power uncertainty hits multiple states as AEMO makes moves to cover shortfalls

ABC  

Power uncertainty spread across five states on Tuesday, with the Australian Energy Market Operator warning of possible power interruptions. Market notices published on the AEMO website warned of maximum power load interruptions in Queensland, New South Wales, Victoria, South Australia and Tasmania. "Discussions with scheduled generators indicate an estimate of approximately 2,000 megawatts of generation in each of Queensland and …

Queensland power blackouts averted as AEMO directs generators to protect network
2 years, 6 months ago

Queensland power blackouts averted as AEMO directs generators to protect network

ABC  

After warning Queenslanders of possible blackouts, the Australian Energy Market Operator has said it was using its powers to direct electricity generators to avoid shortfalls. Key points: The AEMO energy price cap saw energy generators decrease their supply of energy to the market But generators have been directed by the AEMO to provide sufficient power generation to cover the shortfall …

AEMO calls for funding hike as renewable energy levels send management costs soaring
2 years, 10 months ago

AEMO calls for funding hike as renewable energy levels send management costs soaring

ABC  

Costs incurred by the body that keeps the lights on across Australia's major electricity systems are skyrocketing as surging levels of renewable energy increasingly challenge the security of the grid. Key points: AEMO has asked for a 66 per cent increase in funding to manage WA's main electricity grid The proposal mirrors the situation on the east coast, where costs …

SA's statewide blackout was five years ago — here's how energy supply has evolved since then
3 years, 2 months ago

SA's statewide blackout was five years ago — here's how energy supply has evolved since then

ABC  

Among the more surreal and enduring images from South Australia's infamous statewide blackout are the photos of electricity transmission towers collapsed and contorted in foggy fields. Elon and Tesla build a giant battery Within six months of the blackout, Tesla boss Elon Musk famously declared his company could install a battery farm capable of "fixing" SA's power system within 100 …

Australian Electricity Market Operator predicts stable supply despite closures of coal-fired power stations
3 years, 3 months ago

Australian Electricity Market Operator predicts stable supply despite closures of coal-fired power stations

ABC  

New battery storage and gas-powered generators have helped bring more reliability to the electricity grid on Australia's east coast, with no issues for electricity supply forecast over the next five years. Key points: The manager of the country's electricity markets has dropped its warning that Australia faces a power supply shortage AEMO says the closure of coal plants in coming …

Renewables could power most of Australia by 2040, Australian Energy Market Operator plan shows
4 years, 4 months ago

Renewables could power most of Australia by 2040, Australian Energy Market Operator plan shows

ABC  

There could be periods where the nation's homes and businesses are powered almost entirely by renewables, under a plan put forward by the Australian Energy Market Operator. Key points: By 2035 there may be periods where 90 per cent of power comes from renewables The report says gas could play a bigger role but only if prices remain low The …

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