A total reform to Australia’s grid is urgently needed, or else the transition to renewables could spell disaster for energy security, says the government’s Energy Security Board. The board told state and federal leaders at the National Cabinet on Wednesday that Australia’s accelerated conversion from coal to wind and solar had to be accompanied by…
Energy, Gas Prices Surge Amid Coal Plant Outages and Cold Weather
A sequence of unforeseen coal power plant outages and cold weather has put a severe strain on Australia’s electricity grid, sending energy and gas prices soaring. The National Electricity Market witnessed a threefold increase in consumer spot prices, reaching an average of $120 per megawatt-hour (MWh) in June, compared with around $43 per MWh for…
NSW to Commit $380 Million for Landmark Renewables Rollout
New South Wales (NSW) has revealed it will be injecting $380 million (US$290 million) to develop its renewable energy arsenal as part of the state’s ambitious transition to net zero by 2050. The investment will reserve a sizable spot in the state’s to-be-announced 2021-22 budget and builds on $110 million (US$84 million) of existing funding…
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