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Australia s Largest Energy Company Splits in Two to Cope With Falling Energy Prices
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Biggest battery bolstering energy grid
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15 March 2021
A relatively peaceful and event-free summer on South Australia’s electricity grid came to an abrupt end over the weekend, as a combination of maintenance work on the main transmission line, a fire in a key transmission station and then extremely low demand sent prices soaring to the market cap on Friday night, and then to below zero for much of the weekend.
One of the two main circuits on the main transmission line that connects South Australia to Victoria and the rest of the main grid was closed on Friday afternoon as part of long planned maintenance to complete repairs from more than a year ago when a storm blow down some huge transmission towers.
Yallourn deal threatens other generators
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File photo of solar panels. CEP Energy says its $2.4bn battery at Kurri Kurri will be the world’s biggest with about eight times greater capacity than South Australia’s big battery. Photograph: Carly Earl/The Guardian
Developers plan to build what they say will be the world’s biggest large-scale battery in the New South Wales Hunter Valley, the latest in a flurry of major energy storage projects announced for the national electricity grid.
CEP Energy said its $2.4bn battery at Kurri Kurri, north-west of Newcastle, would have a power capacity of up to 1,200 megawatts – about eight times greater than the battery at Hornsdale in South Australia, which was the biggest when it began operating in 2017.