The prime minister, Malcolm Turnbull,
is set to announce an expansion of the Snowy Mountains hydro-electric
scheme that he says could boost electricity output by up to 50%.
The $2bn proposal comes just days after South Australia’s own dramatic intervention in the energy market with a $550m plan for a new state-owned gas power plant and a 100MW battery storage farm to improve the reliability of the state’s grid. It also follows a meeting between Turnbull and the chief executives of gas suppliers as the market regulator warns of looming gas shortages in the domestic market.
Turnbull, who will visit Tumut on Wednesday to outline details of what is being dubbed Snowy Mountains scheme 2.0, says the expansion of the scheme would add 2000MW of generation capacity to the current output of 4100MW. Hydro-electric generation can be switched on quickly to generate power at times of peak demand.
“The unprecedented expansion will help make renewables reliable, filling in holes caused by intermittent supply and generator outages,” Turnbull said.
“It will enable greater energy efficiency and help stabilise electricity supply. This will ultimately mean cheaper power prices and more money in the pockets of Australians.”
No new dams would be built under Turnbull’s proposal, instead new tunnels and power stations would link to existing dams.
The Australian Renewable Energy Agency has been asked to prepare a feasibility study and report back by the end of the year.
The Snowy Mountains hydro scheme was built between 1949 and 1974 and cost $820m. It is made up of 16 dams, seven power stations and 225km of tunnels. More than 100,000 people from 30 countries worked on the project, which was seen as a nation-building exercise in the post-war era.
Boosting hydro-electric capacity has been high on Turnbull’s energy agenda. In February, he wrote to the Australian Renewable Energy Agency (Arena) and the Clean Energy Finance Corporation asking them to prioritise pumped hydro energy storage projects.
Arena approved a $450,000 grant to EnergyAustralia to investigate a 100MW pumped hydro energy storage project in the Spencer Gulf of South Australia.
At the time, Turnbull described pumped hydro energy storage as a “mature and cost-effective storage technology” that could address the need for security and stability in the electricity grid.
The $2bn proposal comes just days after South Australia’s own dramatic intervention in the energy market with a $550m plan for a new state-owned gas power plant and a 100MW battery storage farm to improve the reliability of the state’s grid. It also follows a meeting between Turnbull and the chief executives of gas suppliers as the market regulator warns of looming gas shortages in the domestic market.
Turnbull, who will visit Tumut on Wednesday to outline details of what is being dubbed Snowy Mountains scheme 2.0, says the expansion of the scheme would add 2000MW of generation capacity to the current output of 4100MW. Hydro-electric generation can be switched on quickly to generate power at times of peak demand.
“The unprecedented expansion will help make renewables reliable, filling in holes caused by intermittent supply and generator outages,” Turnbull said.
“It will enable greater energy efficiency and help stabilise electricity supply. This will ultimately mean cheaper power prices and more money in the pockets of Australians.”
The Australian Renewable Energy Agency has been asked to prepare a feasibility study and report back by the end of the year.
The Snowy Mountains hydro scheme was built between 1949 and 1974 and cost $820m. It is made up of 16 dams, seven power stations and 225km of tunnels. More than 100,000 people from 30 countries worked on the project, which was seen as a nation-building exercise in the post-war era.
Boosting hydro-electric capacity has been high on Turnbull’s energy agenda. In February, he wrote to the Australian Renewable Energy Agency (Arena) and the Clean Energy Finance Corporation asking them to prioritise pumped hydro energy storage projects.
Arena approved a $450,000 grant to EnergyAustralia to investigate a 100MW pumped hydro energy storage project in the Spencer Gulf of South Australia.
At the time, Turnbull described pumped hydro energy storage as a “mature and cost-effective storage technology” that could address the need for security and stability in the electricity grid.
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