Edge News

 

Our team is dedicated to being across the energy industry. We analyse any changes within the market and evaluate the impact to our clients. Here you will find a range of articles ranging from major industry events through to our detailed views on energy market movements.

 

09 Aug Prime Minister summons electricity retailers to Canberra for summit

Today (Wednesday 9 August) Prime Minister Malcolm Turnbull, Treasurer Scott Morrison and Energy Minister Josh Frydenberg will meet with Australia’s largest energy retailers and Matthew Warren of the Australian Energy Council in Canberra. The Prime Minister has requested the meeting in an attempt mitigate the rising cost of energy for Australian consumers. One of the key concerns Mr Turnbull will be discussing is the action of retailers switching consumers to more expensive tariffs without their knowledge. Whilst the ACCC is investigating competition within the electricity retail market, this report will not be finalised until next year. The Prime Minister is seeking more immediate solutions to the issue of rising electricity costs. Edge will...

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20 Jul Hydraulic Fracturing Inquiry – Northern Territory

On Friday 14 July 2017, the inquiry into Hydraulic Fracturing in the Northern Territory released an Interim Report on the impacts and risks associated with hydraulic fracturing. The interim report details the activities undertaken by the panel so far.  This includes: community consultations; research into shale gas development; effective water management; land, social; and environmental impacts. The panel will continue with planned activities including site visits to Queensland coal stream gas (CSG) operations, consultation with the Alberta Energy Regulator, and will continue to hold public hearings and community consultations as scheduled.  It is anticipated that the final report will be handed down by the end of 2017. Read the interim report via the...

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14 Jul Victorian Government announces Renewable Energy Action Plan

The Victorian Government has announced its Renewable Energy Action Plan. The Plan reconfirms its commitment to meeting its renewable energy targets of 25 per cent by 2020 and 40 per cent by 2025.  There will be a second round of renewable certificate purchasing to encourage up to 75 MW of largescale solar, of which 35 MW will be used to power Melbourne’s trams. Other initiatives such as battery storage, energy efficiency and solar panels will be supported through cooperation with the Clean Energy Finance Council (CEFC), and the $300 million raised through the Government issuing Green Bonds. To read all the actions that the Victorian Government has committed to, go to...

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10 Jul Edge Insights – Issue 4

Edge Insights provides you with the latest news in the energy industry and showcases some of our services that help to ensure businesses maintain their optimal energy arrangements at all times. In this edition: Renewable projects to meet your energy needs State of the Market Q217 Staff Profile: James Webster Government steps in to reduce gas prices Energy Cost Forecasts Raising funds for Kids’ bus Renewable Projects Deliver Value Interest in renewable generation projects has escalated on the back of elevated black and LGC prices and declining renewable offtake costs. The fulfilment of these projects presents an opportunity to change the energy supply landscape in  Australia. However, will government intervention and continued downward...

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10 Jul South Australia – Tesla Motors and Neoen awarded South Australian Battery system contract

On Friday afternoon Tesla Motors and French wind farm developer Neoen were awarded the tender for the South Australian battery system as part of the South Australian Governments energy security plan. The system will have a capacity of 129 MW hours and will be paired with Neoens Hornsdale 200MW wind farm. The purpose of the battery system is to provide energy when renewable energy isn’t available, i.e. when there is no wind. The timing of the announcement couldn’t have come at a better time as this last week South Australia observed a curious situation where low cost renewable generation was more available than the week prior however average spot prices increased....

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04 Jul Select Solutions for Sale

This week AusNet Services announced the sale of its metering and asset intelligence business, Select Solutions. AusNet Services is the largest diversified energy network business in Victoria, owning and operating approximately $11 billion of assets.  The company owns and operates three regulated networks – the whole of Victoria electricity transmission network, and electricity and gas distribution. The company also has a Commercial Energy Services division focused on unregulated opportunities, which Select Solutions is a part of. Select Solutions is believed to be worth approximately $100 million and has 1000 employees. It is anticipated industrial companies will be interested in the purchase. AusNet Services was listed on the Australian Securities Exchange in December 2005.  Its...

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03 Jul AEMO releases demand forecast

AEMO released their Electricity Forecasting Insights which estimates electricity demand out to 2036. The forecast replaces the National Electricity Forecasting Report (NEFR) and shows that the underlying demand for electricity continues to grow. This growth is offset by rooftop solar PV systems and other non-scheduled generation which is considered a reduction in operation demand by AEMO. Strong, neutral and weak growth scenarios were also analysed to show a range of possible outcomes. All three scenarios end up lower than the 2016 NEFR assumption. These scenarios will form the basis for most of the analysis conducted by AEMO and feeds into a diverse set of requirements such as emergency planning, regulatory investment tests...

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30 Jun Coopers Gap Wind Farm moving forward

AGL has received a development permit from the Queensland Government to build up to 115 turbines for the Coopers Gap Wind Farm. Located near Cooranga North, between Kingaroy and Dalby, the Coopers Gap Wind Farm (up to 460 MW) will be the second wind project offered to the Powering Australian Renewables Fund (PARF). On 27 July 2016, AGL announced QIC as its equity partner in the $2-3 billion Powering Australian Renewables Fund (PARF). PARF was created by AGL to develop approximately 1,000 MW of large-scale renewable energy projects. To date, PARF has reached financial close on two solar plants (Broken Hill 53MW and Nyngan 102MW) and Silverton Wind Farm (200MW)....

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29 Jun SA Electricity Prices to be Highest in the World

Electricity retailers will increase their standard pricing from 1 July 2017 for all states in the National Electricity Market (NEM), with South Australia (SA) tipped to have the largest increase. As part of their annual review of energy tariffs, the three biggest retailers have cited increased wholesale energy costs as the main reason for the significant increases.  The retailers say the increased wholesale costs have been caused by the closure of baseload coal-fired generation and the increased costs of gas. Residential customers in SA will see an average increase of 19.9 per cent from EnergyAustralia, 18 per cent from AGL, and 16.1 per cent from Origin Energy.  Experts are concerned that household...

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22 Jun QLD GOVT to recommission Swanbank E power station

A joint statement issued by Queensland Treasurer Curtis Pitt and Queensland Energy Minister Mark Bailey in early June announced that the Swanbank E Power Station (385 MW) would be recommissioned in the first quarter of 2018. Bringing the gas-powered station back online is part of a multi-faceted approach by the government to increase supply and reduce volatility in the energy market. Stanwell Corporation withdrew Swanbank E from operation in late 2014 due to an over-supply of generation. Since then, Stanwell has been selling their gas to LNG exporters and the Brisbane Short Term Trading Market (STTM). Once back in operation Stanwell will no longer do this because the gas will be...

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