Energy market

Think of solar panels more like apple trees – we need a fairer approach for what we use and sell

Retrieved on: 
Friday, June 2, 2023
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When solar panels generate more energy than a household is using, the excess electricity can be exported to the grid.

Key Points: 
  • When solar panels generate more energy than a household is using, the excess electricity can be exported to the grid.
  • Rooftop solar regularly provides more than a quarter of daytime electricity across the National Electricity Market.
  • The measures in place are costing households that are generating solar power, but also non-solar owners and network operators.
  • We suggest solar panels should be thought of a little more like apple trees.

What’s not fair about the current system?

    • Other mechanisms are also being put in place to allow AEMO to occasionally curtail output from rooftop solar to maintain power system security.
    • However, such measures not only reduce how much electricity is flowing from a home to the grid, but the entire output of the home’s rooftop system.
    • Nor is it fair for distribution businesses to build more poles and wires to accommodate everyone’s solar exports all the time.
    • Or if the system operator has to buy more reserves to cover for the uncertainties of rooftop solar output.

It’s time to rethink the social contract for grid electricity

    • How should households with these growing distributed energy resources interact with the grid in future?
    • We reckon the social contract for grid electricity needs to evolve from the pay-plug-play expectations dating from the 19th century to a two-way engagement to support fairness for all.
    • Apples aren’t an essential service, apple trucks aren’t a regulated monopoly, and the supply and demand of apples doesn’t need to be balanced every second.
    • However, the principles remain – especially for a future where apple trees (rooftop solar) and apple warehouses (home batteries and electric vehicles) are everywhere.

A fairer balance of rights and responsibilities

    • In our research paper we distinguish between rights for passive use (using your own rooftop solar electricity) and responsibilities for active use (selling electricity).
    • We have an opportunity now to make it work better and be fairer for all of us.
    • You can see a summary of the DER Bill of Rights and Responsibilities here.

Reactive Technologies Brings World’s Most Accurate Inertia Measurements to Australia

Retrieved on: 
Thursday, April 20, 2023
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Reactive Technologies (“Reactive”), the grid resilience technology company that provides the world’s most accurate measurements of inertia and other electric grid functions, today announced that it has secured $1.43 million Australian dollars (about 959,000 USD; 780,000 GBP) from the Australian Renewable Energy Agency (ARENA) for a trial project to provide real-time, accurate grid inertia measurements.

Key Points: 
  • Reactive Technologies (“Reactive”), the grid resilience technology company that provides the world’s most accurate measurements of inertia and other electric grid functions, today announced that it has secured $1.43 million Australian dollars (about 959,000 USD; 780,000 GBP) from the Australian Renewable Energy Agency (ARENA) for a trial project to provide real-time, accurate grid inertia measurements.
  • Reactive secured the funding through ARENA’s Advancing Renewables Program, which supports projects that optimize the transition to renewable energy.
  • With two-thirds of its coal power stations expected to close by 2040, accurate grid inertia measurements will be crucial to enabling more renewables to connect to Australia’s grid.
  • “Reactive Technologies’ measurement tools could change the way the NEM is managed.

Farewell Liddell: what to expect when Australia's oldest coal plant closes

Retrieved on: 
Wednesday, April 12, 2023
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Liddell, in the New South Wales Hunter Valley, is Australia’s oldest coal station.

Key Points: 
  • Liddell, in the New South Wales Hunter Valley, is Australia’s oldest coal station.
  • Governments must act to make sure our electricity grid doesn’t fall short when coal plants close.
  • But the demise of facilities such as Liddell means Australia has a once-in-a-generation opportunity to become a global energy superpower.

Life after Liddell

    • But closing Liddell is unlikely to cause the lights to go off in NSW.
    • In the eight years since the decision to close Liddell, large-scale renewable capacity in NSW has ramped up, as has new rooftop solar.
    • Without Liddell, about 13,500 MW of coal, gas and hydro generation is available.
    • That’s why the energy industry is looking past Liddell, to the closure of the Eraring coal plant in 2025, and others to follow.

All eyes on Eraring

    • Modelling by the Australian Energy Market Operator shows the closure of Eraring puts pressure on remaining electricity supply.
    • However, it says the market would still meet the grid “reliabilty standard”, even if no new projects are developed.

Over to the Minns government

    • The earlier-than-expected closure of coal units remains a possibility – as occurred with Victoria’s Hazelwood coal station due to unaffordable repair costs.
    • We have previously recommended a “waiting room” for capacity that can be brought quickly into the market when required.
    • The NSW Minns Labor government can also bring forward investment through an existing policy called the NSW Energy Roadmap.
    • But we can take heart from news this week that under the federal Albanese government, renewables projects are being approved at twice the rate of previous years.

A new era

    • Many new transmission lines must be built to carry electricity from renewables generators to the grid.
    • And the ongoing development of renewable energy zones – clusters of large-scale renewable energy projects – will make establishing new projects quicker and simpler.
    • But while adjusting to the exit of coal brings challenges, nuclear power in Australia is unlikely to be the answer.

EQS-News: VERBUND AG: VERBUND’s Supervisory Board appoints Executive Board of VERBUND AG

Retrieved on: 
Tuesday, March 28, 2023
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At its meeting today, the Supervisory Board of VERBUND AG appointed the members of the Executive Board and set their terms of office from 1 January 2024.

Key Points: 
  • At its meeting today, the Supervisory Board of VERBUND AG appointed the members of the Executive Board and set their terms of office from 1 January 2024.
  • Susanna Zapreva-Hennerbichler, currently Chairwoman of the Executive Board of German company enercity AG, has been newly appointed to the Executive Board of VERBUND.
  • At the meeting of VERBUND’s Supervisory Board on 27 March 2023, the following Executive Board appointments were agreed with staggered terms for the period of office starting 1 January 2024.
  • Michael Strugl has been a member of the Executive Board of VERBUND AG since 2019, and Chairman of the Executive Board since 2021.

Brookfield and EIG Consortium Sign Binding Agreement to Acquire Origin Energy

Retrieved on: 
Monday, March 27, 2023
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SYDNEY, Australia and TORONTO and WASHINGTON D.C., March 27, 2023 (GLOBE NEWSWIRE) -- A consortium comprised of Brookfield Renewable Partners (NYSE: BEP, BEPC; TSX: BEP.UN, BEPC), together with its institutional partners and global institutional investors GIC and Temasek (“Brookfield”), and MidOcean Energy (“MidOcean”), an LNG company formed and managed by EIG, a leading institutional investor in the global energy and infrastructure sectors, has entered into a Scheme Implementation Deed with Origin Energy Limited (“Origin” or “the company”) (ASX: ORG) to acquire 100% of the company’s shares (“Scheme").

Key Points: 
  • MidOcean Energy is an EIG-formed ‘pure-play’ LNG company that will acquire Origin’s Integrated Gas business, which includes the interest in APLNG.
  • Upon closing of the transaction, Brookfield, its institutional partners and investors will own Origin’s Energy Markets business, Australia’s largest integrated power generator and energy retailer.
  • EIG is among the largest specialist investors in energy and infrastructure globally and has had an established presence in Australia since 2000.
  • Brookfield and EIG view Origin as critical to Australia’s energy transition and energy security.

Energy Vault Reports Fourth Quarter 2022 Earnings Results

Retrieved on: 
Tuesday, March 7, 2023
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Energy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault” or “the Company”), a leader in sustainable, grid-scale energy storage solutions, announced financial results for the fourth quarter and full-year ended December 31, 2022.

Key Points: 
  • Energy Vault Holdings, Inc. (NYSE: NRGV) (“Energy Vault” or “the Company”), a leader in sustainable, grid-scale energy storage solutions, announced financial results for the fourth quarter and full-year ended December 31, 2022.
  • NV Energy and Energy Vault partner for 440 MWh energy storage system in Nevada: Energy Vault to work with Nevada’s largest public electric utility to deploy a 220MW/440MWh battery energy storage solution (BESS).
  • Energy Vault will host a conference call today, March 7, 2023 at 4:30 PM ET to discuss the results, followed by a Q&A session.
  • To access the call, participants may dial 1-877-704-4453, international callers may use 1-201-389-0920, and request to join the Energy Vault earnings call.

TransAlta Announces Outlook for 2023 and Update on Corporate Strategy

Retrieved on: 
Thursday, December 15, 2022
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Please refer to the Non-IFRS financial measures section in this release for the purpose of this non-IFRS ratio.

Key Points: 
  • Please refer to the Non-IFRS financial measures section in this release for the purpose of this non-IFRS ratio.
  • TransAlta provides municipalities, medium and large industries, businesses and utility customers with clean, affordable, energy efficient and reliable power.
  • TransAlta aligns its corporate goals with the UN Sustainable Development Goals and its climate change strategy with CDP (formerly Climate Disclosure Project) and the Task Force on Climate-related Financial Disclosures (TCFD) recommendations.
  • TransAlta disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Driving Sustainable Energy Development, CHINT Partners Singapore Polytechnic

Retrieved on: 
Wednesday, November 9, 2022
Alternative Energy, Energy, Other Energy, Carbon, Science and technology in Asia, Energy market, Partnership, Knowledge, Research, Innovation, Multimedia, Residential area, Paris Agreement, Principal, Energy Market Authority, Sustainable development, Goal, University of Strathclyde Technology and Innovation Centre, Solution, Environment, Policy, Electricity, Conference, Automation, Singapore Green Plan 2012, Polytechnic, Technology, Student, CEO, SP, Industry, Singapore Polytechnic, Renewable energy, Tutoring, Asia-Pacific

At the Regional Industry Networking Conference (RINC) 2022 organized by Singapore Polytechnic (SP), CHINT joined hands with SP to bring these Green Solutions, and research and teaching capabilities to Singapore.

Key Points: 
  • At the Regional Industry Networking Conference (RINC) 2022 organized by Singapore Polytechnic (SP), CHINT joined hands with SP to bring these Green Solutions, and research and teaching capabilities to Singapore.
  • View the full release here: https://www.businesswire.com/news/home/20221108006314/en/
    Driving Sustainable Energy Development, CHINT Partners Singapore Polytechnic (Photo: Business Wire)
    RINC 2022 theme is anchored on "Energy Sustainability and Innovation".
  • Mr Soh Wai Wah, Principal and CEO of Singapore Polytechnic, said, "This strategic partnership between CHINT and Singapore Polytechnic University will be an important contribution to Singapore's energy ecosystem and build a mature talent pipeline to support the community in achieving sustainable development goals.
  • Singapore Polytechnic (SP) was established in 1954 as the first polytechnic in Singapore.

Energy Vault Issued Notice of Award From Meadow Creek Solar Farm for a 250MW/500MWh Grid-connected Battery in Victoria, Australia

Retrieved on: 
Thursday, October 27, 2022
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Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault"), a leader in sustainable, grid-scale energy storage solutions, today announced a Notice of Award from Meadow Creek Solar Pty Ltd ("Meadow Creek" or "Meadow") for the deployment of a 250MW/500MWh battery energy storage system (BESS) at the Meadow Creek Solar Farm in Victoria, Australia.

Key Points: 
  • Energy Vault Holdings, Inc. (NYSE: NRGV) ("Energy Vault"), a leader in sustainable, grid-scale energy storage solutions, today announced a Notice of Award from Meadow Creek Solar Pty Ltd ("Meadow Creek" or "Meadow") for the deployment of a 250MW/500MWh battery energy storage system (BESS) at the Meadow Creek Solar Farm in Victoria, Australia.
  • Developed by Meadow Creek, the 330MW solar farm is located three hours north of Melbourne, Australia, and provides zero-carbon electricity to approximately 110,000 homes in the region.
  • The Meadow Creek Solar Farm, Hybrid Solar PV and BESS Developments goals are well met with the market release of Energy Vaults AC and DC block bespoke energy storage solutions for the Australian market.
  • "The solutions approach Energy Vault conducted with our team has been pivotal in our decision to select the Energy Vault energy storage hardware and software platform, said Cameron Munro, Development Manager at Meadow Creek Solar Farm.

Canada Invests $2.3 Million in Ontario's Energy Market Transformation

Retrieved on: 
Wednesday, September 28, 2022
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This project will deploy six behind-the-meter energy storage systems in Toronto, Mississauga, Belleville and Mitchell, Ontario, and will install 3.82 MWs of energy storage capacity.

Key Points: 
  • This project will deploy six behind-the-meter energy storage systems in Toronto, Mississauga, Belleville and Mitchell, Ontario, and will install 3.82 MWs of energy storage capacity.
  • SWITCH Power will be operating distributed energy resources (DERs) to showcase Ontario's capability of delivering grid and market transformation, in partnership with the Independent Electricity System Operator.
  • This project will also support the development of an Energy Market Platform that will enable DERs to play a meaningful role in Ontario's energy grid.
  • The Government of Canada is committed to supporting local solutions and community-driven projects that will build a clean energy future for all.