Renewable energy supply to the National Electricity Market hit a record of 66% in the first quarter, according to the latest quarterly update from the Australian Energy Market Operator .
The record comes less than a year since Labor Party came to power, promoting clean energy projects and pledging to invest A$20 billion to rebuild and modernise the national electricity network as part of a drive to cut carbon emissions by 43% by 2030 and reach net zero emissions by 2050. "These insights reinforce that critical transmission investments ... are needed to share low-cost, low emission renewable energy with consumers," AEMO CEO Daniel Westerman said in a statement.
Easing La Nina conditions - the weather phenomenon that typically brings more rain - and a relatively mild southern hemisphere summer helped wholesale electricity prices drop back to typical historic levels, the report said.