Australia’s energy transition road map has ignited renewed interest in transmission, without which the pathway to net zero will rocky – but investors have few avenues to reap the upside.
The five projects are the headline acts of what is expected to be a wave of new infrastructure to connect Australia’s new zero emission transmission and storage needs. Mr Wheals said Australia’s recent energy crisis offers a glimpse of a disorderly transition, as soaring wholesale electricity prices triggered by record coal prices, a spate of outages and adverse weather leave a spate of companies on the brink.Higher electricity bills will test households already struggling with costs of living, soaring inflation and rising interest rates.
Such concerns have fuelled the urgency around discussions to overhaul the structure of the NEM to introduce a so-called “capacity” mechanism, intended to help ensure the availability of generators that can run on-demand to fill the gaps between fluctuating wind and solar power. Few expect the current $2.3 billion price tag to be met, though it will unlock more than $20 billion in new renewable projects in both states.
the power grid has been privatised but they expect gov to fund a new grid Just greedy sharks
Let's not destroy our environment to 'save the world'. We can't.
You're presuming taxpayers have decided they want to fund those massive infrastructure projects. But who are we kidding? - it's not like voters get to decide the important stuff.
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