The Australian Energy Market Operator’s (AEMO) latest analysis has found that the supply of energy should be more reliable in the next few years due to the rapid development of large-scale renewables.
The Operator’s 2020 Electricity Statement of Opportunities (ESOO) forecasts electricity supply reliability in the National Electricity Market (NEM) over a 10-year period to inform decision-makers and market participants and included the uncertain impacts of the COVID-19 pandemic in its research into peak demand and energy consumption over the coming summer.
“It is great to see how industry’s investment in new resources improves the reliability outlook for this summer,” the Managing Director and Chief Executive Officer of AEMO, Audrey Zibelman, said.
“In future years, the declining reliability of the aging coal fleet and scheduled plant closures contribute to projected increases in unserved energy, particularly in New South Wales (NSW), and to some degree in Victoria,” she said.
“Timely investment in transmission projects identified in AEMO’s latest Integrated System Plan (ISP), and projects such as those announced under the NSW Emerging Energy Program, will help address this risk.”
Ms Zibelman said while the outlook had improved, it was clear from last summer’s extreme weather events that summer readiness planning remained as important as ever.
Minister for Energy and Emissions Reduction, Angus Taylor said the ESOO highlighted that the NEM was well positioned to deliver the reliable and affordable power businesses and households would need this summer.
AEMO’s one-page ESOO infographic can be accessed at this PS News link.
