Extract from ABC News
More than $12 billion of investment in new transmission lines should begin "as urgently as possible" to ensure electricity supply is secure in the coming decade, according to the Australian Energy Market Operator (AEMO).
Key points:
- The AEMO says: "All actionable projects should progress as urgently as possible"
- It says there are "no quick fixes" in its 30-year roadmap
- The federal Energy Minister says the government supports the AEMO's vision to transform the electricity grid
Five projects across New South Wales, Victoria and Tasmania have been highlighted as top priorities for federal and state governments to approve and push ahead with.
The call for urgent action was issued in the AEMO's latest "integrated system plan" (ISP), its 30-year roadmap for supplying reliable and affordable electricity while also reaching net zero emissions by 2050.
"All actionable projects should progress as urgently as possible," the report states, noting that speeding up the five key transmission projects would provide "valuable insurance" against coal-fired power stations closing faster than expected.
The five projects — HumeLink, VNI West, Marinus Link, Sydney Ring and New England REZ Transmission Link — are all currently being assessed for regulatory approval or should begin that process soon.
Collectively, the projects are estimated to cost $12.8 billion, but are considered fundamental to support future electricity generation and storage options.
HumeLink would connect electricity generated by Snowy 2.0 to the grid, while Marinus Link is vital for Tasmanian pumped hydro and wind-power projects to connect to the mainland.
The five priority projects are in addition to another seven transmission links already under development.
"Australia is experiencing a complex, rapid and irreversible energy transformation," AEMO CEO Daniel Westerman said in a statement.
No 'quick fixes' in new plan
Transmission upgrades are needed to allow renewable energy and storage facilities scattered around the country to connect to the grid, and to accommodate "two-way" flow from storage facilities and rooftop solar.
Coal-fired power stations planning to close ahead of schedule are adding to the pressure to modernise the electricity grid quickly.
"The future of Australia's energy is a matter of great national urgency," the report states, noting that 100 per cent of electricity on the east coast could — at times — be provided by renewable energy as soon as 2025.
"This plan is for a true transformation of the National Electricity Market, from fossil fuels to firmed renewables. It calls for levels of investment in generation, storage, transmission and system services that exceed all previous efforts combined.
Figures in the ISP suggest it will take $320 billion of investment from both the public and private sector to fully transform the electricity grid, including by providing new power generation and storage, between now and 2050.
State, federal governments back roadmap
Labor's federal election victory will accelerate the transformation of the electricity grid, having come to power promising to spend $20 billion on transmission upgrades in a policy dubbed "Rewiring The Nation".
The AEMO's report notes that state governments "have long supported this investment" and Labor's policy "will support the ISP roadmap's timely and effective delivery".
Speaking ahead of the publication of the report, Climate Change and Energy Minister Chris Bowen embraced the AEMO's vision for the future of the grid.
"It is a roadmap for the transmission revolution the country needs," he said.
"I look forward to working with my fellow energy ministers to modernise the grid, implement the ISP and provide the country with more renewables, more transmission and more storage."
AEMO calls for community, business engagement
Regional communities and landholders are already grappling with the massive infrastructure developments, including high-voltage powerlines cutting across their landscapes.
New developments are likely to lead to more community frustration about precisely where powerlines, substations, generators and storage sites will be located.
The AEMO has acknowledged the growing issue, with its report calling for "industry and communities to be engaged in, help problem-solve, and ultimately support and benefit from that investment".
"The National Electricity Market is capable of delivering enough low-emission electricity to support the nation's most ambitious economic and environmental goals, but it does need a clear social licence for the scale of investment needed," it says.
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