The Australian Energy Market Operator (Aemo) in its 10-year forecast revealed that lack of sufficient energy storage and supply during peak periods and no standing infrastructure for transmission makes the future of the energy market in Australia very bleak.
The sources to harness energy are depleting and becoming obsolete, like the coal generation and thermal generations unreliability and the closure of the Liddell power station in New South Wales. This is putting more pressure on energy operators and an increased burden on consumers, who are being charged more.
The chief executive of Aemo, Audrey Zibelman said, “deliberate actions that address the challenges of our ageing coal fleet and which meet the need for secure and dispatchable supply, whilst also taking advantage of Australia’s natural resources. We need to harness all the resources we have in the system, together with the opportunities that come with the technological advances occurring in the industry to meet current and future energy demands at the lowest cost possible.”
The Morrison government announced actions to support renewable energy projects to meet the country’s unlimited need. The summers especially come with longer hauls and more pressure on the grid to supply. In the absence of no designated policy on grid security and emissions reduction, steps to ensure channelization and transmission infrastructure erection are tough. The market operator is also suggesting the introduction of a new reliability standard intended to assure that each region has sufficient resources to meet peak demand requirements during 90% of the time.