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A $2 billion electricity transmission line expected to deliver long-term cheaper power in SA and NSW by allowing more generation from renewables is given the green light by the national regulator.
4 May 2021
Transmission companies ElectraNet and Transgrid have made their final pitch to the regulator for the proposed new $2.4 billion link between South Australia and NSW, arguing it is essential for Australia’s clean energy transition and will unlock significantly bigger benefits than previously thought.
The new filings to the Australian Energy Regulator for the 900km, 800MW Project EnergyConnect (PEC) transmission link is the last major hurdle in what has been a typically drawn out regulatory process.
The AER has previously expressed concern about the amount of monetary benefits from the project, particularly after a blowout in construction costs, but its approach has also been criticised as too narrow and lacking the broader benefits of the clean energy transition, of which PEC is seen as a critical component.
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The body that runs Australia’s electricity market has formally warned the national regulator for the industry that coal power stations are increasingly likely to close prematurely as the transformation in the energy market tracks closer to a “fast change” scenario than to its central case.
Government policies such as the NSW energy infrastructure road map, the rapid uptake of rooftop solar, progress on large renewables projects and recent announcements on large-scale batteries all signal the market is developing more rapidly than had been thought likely, Australian Energy Market Operator interim chief executive Nino Ficca told Australian Energy Regulator chairwoman Clare Savage in a February 23 letter.