- Home
- Deal...
Deal for 'clean, reliable power' despite gas shortfall
Australia will build more wind and solar farms and big batteries, not gas or nuclear plants, under the latest federal funding agreement.
Western Australia is the latest state to sign a Renewable Energy Transformation Agreement (RETA) and has also opened bidding for the first Capacity Investment Scheme tender for the state.
Under the agreement announced on Monday, the federal government will underwrite at least 6.5 terawatt hours of new wind and solar generation in WA, as well as 1.1 gigawatts of new energy storage.
But critics say the doubling of wholesale electricity prices in WA since 2021 has put the competitiveness of businesses and industry at risk, and are more concerned about a near-term gas shortfall.
Regulators forecast a domestic gas deficit for the state between 2024 and 2029, despite the state being one of the world's biggest gas exporters.
Pledging to shut state-owned coal-fired power plants by 2030, WA will need more electricity for future green iron, hydrogen and ammonia production, which is similar to the challenges facing states such as South Australia and Queensland.
SA was the first to sign such an agreement for renewable energy development earlier this month in return for dedicated federal funding support, and agreements are being finalised with other states and territories.
Some 90 per cent of the nation's increasingly unreliable fleet of coal-fired power plants will be shuttered over the next 10 years as they reach the end of their 50-year-plus lives.
The first capacity tender in WA will target enough to power 450,000 homes or 2000 megawatt hours of dispatchable capacity in the state's Wholesale Electricity Market, which is separate to the so-called national electricity market.
Energy Minister Chris Bowen said it builds on the success of the first national tender, which received more than 25 gigawatts of bids for a 6GW tender, and was the only plan backed by experts to deliver the cheap, reliable and resilient energy system.
"This is in sharp contrast to Peter Dutton's anti-renewables nuclear fantasy which remains uncosted and unexplained," Mr Bowen said.
WA Energy Minister Reece Whitby said the state was already investing more than $5 billion in new solar, wind and battery developments, with the capacity investment scheme set to further bolster decarbonisation efforts.
"We want to continue providing WA households and businesses with clean, reliable, and affordable power," he said.
"The procurement of additional storage will be critical for firming wind and solar power during peak demand, complementing existing public and private investment in big batteries in Collie and Kwinana."
Some 18 of the 32GW offered under the federal capacity scheme will be subject to RETAs, which are intended to be tailored to the needs of each state.
State governments have been warned that some subsidies may be re-allocated beyond their borders if commitments fall short.
- https://www.msn.com/en-au/news/australia/deal-for-clean-reliable-power-despite-gas-shortfall/ar-BB1qnsOf?ocid=00000000
Related
Glorious Just Released the ‘Porsche of Keyboards’ and It’s a Typers Dream
If you’re into cars, watches, whisky, coffee, cigars, etc., the next frontier of guy nerdery might be keyboards. This is the most used piece of technology in your life, next to your computer and smartphone, so why skimp out on something so deep-rooted in your everyday life? You don’t go hunting for an espresso made […]
NewsFour Davids and two Nigels: can Crisafulli deliver a modern and inclusive cabinet?
David Crisafulli will be breaking a promise either way. He said he’d keep his old opposition frontbench in place after the election. He also promised to lead a forward-thinking, modern-looking government. It’s unlikely he can do both. Before Crisafulli became the LNP leader, the party had been an unwelcoming place for aspiring women. In opposition, 29 of the 35 LNP MPs were white men. The rest were white women. The new premier had spoken about...
NewsUkraine must activate its plan B against the Russians
The United States has deemed Zelensky’s plan unrealistic and overly dependent on aid, while the list of targets in Russia exceeded the number of missiles available. According to a source cited by a New York Times, one of the secret points of the plan also involved long-range Tomahawk missiles, a request that US officials said was unrealistic. No country has authorized the use of its missiles inside Russia, and an invitation to NATO remains off...
NewsLNP candidate Bianca Stone concedes to Labor's Meaghan Scanlon in hotly contested Gold Coast seat
Bianca Stone says she has called Labor's Meaghan Scanlon to concede defeat in Gaven, but Labor is yet to claim victory.
News‘We were trapped like rats’: Spain’s floods bring devastation and despair
The gratitude that greeted Tuesday’s dawn downpours was short-lived in Utiel. When the longed-for rains finally reached the town in the drought-stricken eastern Spanish region of Valencia, they were merciless in their abundance. “People were very happy at first because they’d been praying for rain as their lands needed water,” said Remedios, who owns a bar in Utiel. “But by 12 o’clock, this storm had really hit and we were all pretty terrified.”...
NewsPrivate beach clubs, Art Deco delights and the world’s second-largest reef on the ultimate Caribbean cruise
From laid-back days at sea to action-packed adventures ashore, an adults-only Caribbean cruise with Virgin Voyages is the best way to see and do it all.
NewsMelbourne woman’s death after foraged mushroom dinner prompts coroner’s warning
A Melbourne woman has died after she and her son were poisoned by a homemade meal containing foraged mushrooms, prompting a warning from the coroner. The 98-year-old woman, Loreta Maria Del Rossi, died in hospital on 22 May, seven days after eating the meal. In the Victorian state coroner’s report released on Wednesday, Judge John Cain said Del Rossi died from multi-organ failure after poisoning from the toxins found in lethal “death cap”...
NewsYamaha Brings On the Hype With the New MT-07
The middleweight naked streetfighter finally gets the update it deserves.
News