March 2018

29 Mar Nearly 30 million certificates to be surrendered to meet small scale renewable energy scheme obligations

The Clean Energy Regulator (CER) announced earlier today, the 2018 small-scale technology percentage (STP) as 17.08%. This means that liable entities (mainly electricity retailers) are required to surrender to the CER approximately 29.3 million STCs to meet their small scale renewable energy scheme obligations for 2018. This figure is derived by adding 7.2 million STCs to the estimated 22.1 million supply of STCs in 2018 (see below for how this is determined). The 7.2 million STC adjustment is the difference between previous years’ STC creations and the actual number of STCs surrendered in those years. Last year the STP was 7.01%, therefore this year is an increase of 10.07%. The uplift...

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28 Mar Northern Territory Hydraulic Fracturing

  After 15 months, 151 public hearings, 31 community updates and 1,257 submissions, Justice Rachel Pepper has presented the independent Scientific Inquiry into Hydraulic Fracturing of Onshore Unconventional Reservoirs to the Northern Territory Government. The inquiry makes 135 recommendations which mitigate the risks associated with onshore shale gas development to acceptable levels, and in some cases, eliminate the risks completely. The report clearly states that it is necessary for all the recommendations to be actioned in order for the risks to be reduced to acceptable levels. The final report builds on the recommendations made in the Draft Final Report by including: an implementation Chapter, which states clearly that all of the recommendations...

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28 Mar Softer forward electricity prices recorded on the Australian Stock Exchange

Quarterly forward contracts from Q118 to Q219 declined across all mainland regions in the National Electricity Market (NEM) yesterday. The largest decline was in the illiquid South Australian market where Q219 prices dropped by $9.75/MWh. Queensland contracts are currently the most affordable which is driven by the surplus of firm capacity in the region and a direction from the Queensland Government last year to Stanwell Corporation to lower wholesale prices. New South Wales contract prices have declined since the beginning of 2018 driven by lower than expected spot price outcomes in the region. Snowy Hydro corporation have been instrumental in reducing volatility in the region aggressively defending the $300.00/MWh cap...

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28 Mar Concentrated Solar Thermal and the National Energy Guarantee

ARENA has released their public summary of the Request For Information (RFI) on Concentrated Solar Thermal (CST) projects. The RFI process was designed to examine the potential for a possible program supporting the deployment of CST systems in Australia. There were 31 respondents to the RFI. Respondents ranged from the most experienced in the world to relatively junior Australian companies. There were a couple of key takeaways from the exercise which included: - That dispatchable and flexible generation coupled with synchronous generation was beneficial; - Cost discovery was limited as pricing is commercially sensitive in nature. More junior developers offered low pricing; - There are a number of regulatory, commercial and technical challenges...

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23 Mar Edge makes submission regarding NEG

It is important that the National Electricity Market remains secure and Australia can be part of the international commitment to reducing climate change while remaining competitive. The NEG seeks to achieve these objectives while trying to achieve support from both major federal parties. The importance of bipartisan support has been acknowledged, as the market struggles to self-adapt with uncertainty. Having a lasting framework which is flexible enough to allow for changes in a rapidly changing energy market whilst providing certainty to investors who need to recoup long term fixed charges is difficult. Ensuring the market remains efficient and effective is critical to achieving the objectives. It is in this context that...

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19 Mar New SA liberal party leader focused on cutting energy costs

The new South Australian Premier, Steven Marshall, will be looking to reduce energy prices in the state. Mr Marshall is not in favour of setting a state-based target for renewable energy and has noted that even without a target, the state is likely to reach 74% of all electricity being renewable in 2025 and 76% in 2030. Mr Marshall is focusing on batteries and additional interconnection instead. He is aiming to establish a fund within his first 100 days in office to provide a $2,500 subsidy for up to 40,000 household to purchase a battery. The subsidy will be available to households that already have solar PV and will be means tested,...

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16 Mar ACCUs Surrendered under Safeguard Mechanism

Together with the National Greenhouse and Energy Reporting Act 2007, the safeguard mechanism provides a framework for Australia’s largest emitters to measure, report and manage their emissions. It gives businesses a legislated obligation to keep net emissions below their baseline. Baselines are intended to accommodate business growth and allow businesses to continue normal operations. The Clean Energy Regulator recently released the first full year of data on 14 March 2018 under the safe guard mechanism. The safeguard mechanism commenced on 1 July 2016, with the first reporting period ending 30 June 2017. Emissions were reported to the Clean Energy Regulator as part of the National Greenhouse and Energy Reporting scheme on 31 October...

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09 Mar STAFF PROFILE – Melitta Springer

Melitta has spent over a decade working in the energy sector in roles including Retail Pricing Analyst, Account Manager and Customer Relationship Manager. As Portfolio Manager at Edge, she focuses on building and maintaining strong relationships with clients and key stakeholders. She’s unwavering in her commitment to using the Edge’s efficiencies and insights to deliver solutions that save clients time and money. What is the best piece of advice you have ever received? It’s not necessarily advice, but a quote from Winston Churchill has stuck with me over the years.  “Continuous effort – not strength or intelligence – is the key to unlocking our potential”. It is the little things that we do...

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07 Mar RSPCA ADOPT A PET!

For the 50,342 animals that arrived at the RSPCA Queensland centre over the past year, it was a second chance at life.  One of those lives belonged to 3 year old ‘Roger’, a domestic short hair ginger tabby cat.  Roger had been surrendered by a family that no longer wanted him and after spending 4 months in the Wacol RSPCA shelter, was re homed.  Roger was given another chance of life after being adopted by Kristy McGrath, our Head of Operations & Client Delivery, at the recent RSPCA Pop Up Adoption Day in South Brisbane.  Already having two dogs and two horses, adopting Roger from the RSPCA was an easy decision when it...

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07 Mar STATE OF THE ELECTRICITY MARKET – Q118 MARKET OVERVIEW

In this summer edition of the market update we look at some of the issues which is causing price differences in wholesale prices across the east coast of Australia. Since the start of summer, the divide has mainly been across the Murray river with QLD and NSW to the north and VIC, SA and TAS sitting to the South. The summer started in December with modest spot prices across all the regions. The region with the highest price was TAS at $90.96/MWh with the lowest price being QLD at $76.56/MWh. The interconnectedness of the market means that prices in NSW was similar to QLD while SA and VIC were closer to...

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