With the harsh reality of constantly rising prices, we could all use some good news when it comes to our household budgets.

But unfortunately, it seems that might not be in the cards for us any time soon.

The Australian Energy Regulator (AER) recently released its ‘State of the Energy Market’ report for 2023, which warns that Australians could face rising power prices for years to come as the country struggles to switch to more sustainable and renewable energy sources.

This is due to the transition away from coal-fired power proving more difficult than expected—with ageing power stations beginning to exit the grid as well as further delays in the construction of renewable energy projects (and the required transmission infrastructure).

While various forms of government intervention managed to delay the worst price hikes in the past year, the AER report points out that many of these issues remain unresolved.

Transmission investments required to connect new sources of generation are progressing more slowly than planned. Image source: Pixabay

The report states that in 2022, the federal government made a concerted effort to increase renewable energy generation to 82 per cent, with the target of reaching net-zero emissions by 2050 clearly in sight.

The report further notes that Australia is struggling to accelerate renewable energy generation quickly enough, with large projects facing rapidly rising costs.

Simultaneously, the rollout of approximately 10,000 kilometres of transmission infrastructure needed to transport green energy has been delayed due to sustained community opposition.

The AER also found that alongside the closure of the Liddell power station in New South Wales (NSW), four more coal-fired power stations are scheduled to shut down in the next ten years, requiring an urgent and expensive investment in new generation, storage, and transmission capacity.

‘There are also major and urgent pressures for investments to keep pace with the energy transition and retirement of coal generation,’ the report says.

Coal generation is the main cause of emissions in the National Electricity Market (NEM) and needs to be taken offline promptly to reach emission reduction goals. Image source: Pixabay

AER chair Clare Savage emphasised that despite some ‘better market outcomes this year’, challenges continue to mount in delivering affordable and reliable energy in the coming years.

‘Work still remains to address energy affordability for consumers, co-ordinate the entry and exit of generation sources and ensure the timely and least-cost delivery of major transmission projects,’ Ms Savage said.

‘These projects face challenges including escalating costs, slower than planned progress and the need to address the concerns of the communities that host them.’

The report also shows that shortfalls in electricity supply are accelerating due to the growing demand for electricity, necessitating increased generation capacity.

Additionally, the report highlights the growing influence of renewable generation, with rooftop solar output accounting for 9 per cent of total generation in 2022—a 15 per cent increase from 2021 and more than double the output in 2018.

In summary, the energy transition ahead poses a significant challenge, and it appears that we may experience further price hikes unless we find and implement effective solutions soon.

We can only hope that government initiatives, investments, and community support will guide us through this challenging period and protect our finances.

Meanwhile, the SDC team will closely monitor the news and will promptly update you on any significant developments.

Key Takeaways

• The Australian Energy Regulator (AER) warns of potential higher power bills as ageing coal-fired generators exit the grid and transmission projects face delays.
• In 2022, the federal government set a renewable energy target of 82 per cent by 2030, but rising costs and community opposition hamper progress.
• The report highlights the imminent closure of Liddell in NSW and four other coal-fired power stations, necessitating urgent investment in generation, storage, and transmission.
• AER Chair Clare Savage acknowledges improved market outcomes this year but stresses ongoing challenges in ensuring an affordable, reliable energy supply, as well as the critical need to address generation coordination and major transmission projects.

Members, we'd love to hear your thoughts on this story. Are you prepared for a possible increase in energy/electricity costs? Do you think the transition to a more renewable grid is progressing too quickly, or not fast enough? Let us know your answers in the comments below!

 

[ToniaKisliakov]

With the harsh reality of constantly rising prices, we could all use some good news when it comes to our household budgets.

But unfortunately, it seems that might not be in the cards for us any time soon.

The Australian Energy Regulator (AER) recently released its ‘State of the Energy Market’ report for 2023, which warns that Australians could face rising power prices for years to come as the country struggles to switch to more sustainable and renewable energy sources.

This is due to the transition away from coal-fired power proving more difficult than expected—with ageing power stations beginning to exit the grid as well as further delays in the construction of renewable energy projects (and the required transmission infrastructure).

While various forms of government intervention managed to delay the worst price hikes in the past year, the AER report points out that many of these issues remain unresolved.

View attachment 31482

Transmission investments required to connect new sources of generation are progressing more slowly than planned. Image source: Pixabay

The report states that in 2022, the federal government made a concerted effort to increase renewable energy generation to 82 per cent, with the target of reaching net-zero emissions by 2050 clearly in sight.

The report further notes that Australia is struggling to accelerate renewable energy generation quickly enough, with large projects facing rapidly rising costs.

Simultaneously, the rollout of approximately 10,000 kilometres of transmission infrastructure needed to transport green energy has been delayed due to sustained community opposition.

The AER also found that alongside the closure of the Liddell power station in New South Wales (NSW), four more coal-fired power stations are scheduled to shut down in the next ten years, requiring an urgent and expensive investment in new generation, storage, and transmission capacity.

‘There are also major and urgent pressures for investments to keep pace with the energy transition and retirement of coal generation,’ the report says.

View attachment 31481

Coal generation is the main cause of emissions in the National Electricity Market (NEM) and needs to be taken offline promptly to reach emission reduction goals. Image source: Pixabay

AER chair Clare Savage emphasised that despite some ‘better market outcomes this year’, challenges continue to mount in delivering affordable and reliable energy in the coming years.

‘Work still remains to address energy affordability for consumers, co-ordinate the entry and exit of generation sources and ensure the timely and least-cost delivery of major transmission projects,’ Ms Savage said.

‘These projects face challenges including escalating costs, slower than planned progress and the need to address the concerns of the communities that host them.’

The report also shows that shortfalls in electricity supply are accelerating due to the growing demand for electricity, necessitating increased generation capacity.

Additionally, the report highlights the growing influence of renewable generation, with rooftop solar output accounting for 9 per cent of total generation in 2022—a 15 per cent increase from 2021 and more than double the output in 2018.

In summary, the energy transition ahead poses a significant challenge, and it appears that we may experience further price hikes unless we find and implement effective solutions soon.

We can only hope that government initiatives, investments, and community support will guide us through this challenging period and protect our finances.

Meanwhile, the SDC team will closely monitor the news and will promptly update you on any significant developments.

Key Takeaways

• The Australian Energy Regulator (AER) warns of potential higher power bills as ageing coal-fired generators exit the grid and transmission projects face delays.
• In 2022, the federal government set a renewable energy target of 82 per cent by 2030, but rising costs and community opposition hamper progress.
• The report highlights the imminent closure of Liddell in NSW and four other coal-fired power stations, necessitating urgent investment in generation, storage, and transmission.
• AER Chair Clare Savage acknowledges improved market outcomes this year but stresses ongoing challenges in ensuring an affordable, reliable energy supply, as well as the critical need to address generation coordination and major transmission projects.

Members, we'd love to hear your thoughts on this story. Are you prepared for a possible increase in energy/electricity costs? Do you think the transition to a more renewable grid is progressing too quickly, or not fast enough? Let us know your answers in the comments below!

 

[ToniaKisliakov]

So much for politicians lies in lowering power bills just to get elected

 

[mylittletibbies]

The way things are going we'll all need to go back to using candles, icechests and running under the hose to keep cool
Wood stoves, oh no wood's too dear, if you can manage to get any and besides that makes too much pollution.
All this worry about power, but they keep making more and more things in this digital age, that need power
EFTPOS, ATMs, computers, TVs just to mention a few
All things previous generations seemed to do well enough without, and seemed to be a lot happier than our current generation.
They even seemed to have more time for family, even though they didn't have all the time saving devices we have today, but are too busy trying to earn enough money to pay for all these things we can't do without.
Too late to turn back the click.

 

[Luckyus]

With the harsh reality of constantly rising prices, we could all use some good news when it comes to our household budgets.

But unfortunately, it seems that might not be in the cards for us any time soon.

The Australian Energy Regulator (AER) recently released its ‘State of the Energy Market’ report for 2023, which warns that Australians could face rising power prices for years to come as the country struggles to switch to more sustainable and renewable energy sources.

This is due to the transition away from coal-fired power proving more difficult than expected—with ageing power stations beginning to exit the grid as well as further delays in the construction of renewable energy projects (and the required transmission infrastructure).

While various forms of government intervention managed to delay the worst price hikes in the past year, the AER report points out that many of these issues remain unresolved.

View attachment 31482

Transmission investments required to connect new sources of generation are progressing more slowly than planned. Image source: Pixabay

The report states that in 2022, the federal government made a concerted effort to increase renewable energy generation to 82 per cent, with the target of reaching net-zero emissions by 2050 clearly in sight.

The report further notes that Australia is struggling to accelerate renewable energy generation quickly enough, with large projects facing rapidly rising costs.

Simultaneously, the rollout of approximately 10,000 kilometres of transmission infrastructure needed to transport green energy has been delayed due to sustained community opposition.

The AER also found that alongside the closure of the Liddell power station in New South Wales (NSW), four more coal-fired power stations are scheduled to shut down in the next ten years, requiring an urgent and expensive investment in new generation, storage, and transmission capacity.

‘There are also major and urgent pressures for investments to keep pace with the energy transition and retirement of coal generation,’ the report says.

View attachment 31481

Coal generation is the main cause of emissions in the National Electricity Market (NEM) and needs to be taken offline promptly to reach emission reduction goals. Image source: Pixabay

AER chair Clare Savage emphasised that despite some ‘better market outcomes this year’, challenges continue to mount in delivering affordable and reliable energy in the coming years.

‘Work still remains to address energy affordability for consumers, co-ordinate the entry and exit of generation sources and ensure the timely and least-cost delivery of major transmission projects,’ Ms Savage said.

‘These projects face challenges including escalating costs, slower than planned progress and the need to address the concerns of the communities that host them.’

The report also shows that shortfalls in electricity supply are accelerating due to the growing demand for electricity, necessitating increased generation capacity.

Additionally, the report highlights the growing influence of renewable generation, with rooftop solar output accounting for 9 per cent of total generation in 2022—a 15 per cent increase from 2021 and more than double the output in 2018.

In summary, the energy transition ahead poses a significant challenge, and it appears that we may experience further price hikes unless we find and implement effective solutions soon.

We can only hope that government initiatives, investments, and community support will guide us through this challenging period and protect our finances.

Meanwhile, the SDC team will closely monitor the news and will promptly update you on any significant developments.

Key Takeaways

• The Australian Energy Regulator (AER) warns of potential higher power bills as ageing coal-fired generators exit the grid and transmission projects face delays.
• In 2022, the federal government set a renewable energy target of 82 per cent by 2030, but rising costs and community opposition hamper progress.
• The report highlights the imminent closure of Liddell in NSW and four other coal-fired power stations, necessitating urgent investment in generation, storage, and transmission.
• AER Chair Clare Savage acknowledges improved market outcomes this year but stresses ongoing challenges in ensuring an affordable, reliable energy supply, as well as the critical need to address generation coordination and major transmission projects.

Members, we'd love to hear your thoughts on this story. Are you prepared for a possible increase in energy/electricity costs? Do you think the transition to a more renewable grid is progressing too quickly, or not fast enough? Let us know your answers in the comments below!

Maybe one day we'll get a government willing to go nuclear as far as energy purposes.

 

[falconxp]

With the harsh reality of constantly rising prices, we could all use some good news when it comes to our household budgets.

But unfortunately, it seems that might not be in the cards for us any time soon.

The Australian Energy Regulator (AER) recently released its ‘State of the Energy Market’ report for 2023, which warns that Australians could face rising power prices for years to come as the country struggles to switch to more sustainable and renewable energy sources.

This is due to the transition away from coal-fired power proving more difficult than expected—with ageing power stations beginning to exit the grid as well as further delays in the construction of renewable energy projects (and the required transmission infrastructure).

While various forms of government intervention managed to delay the worst price hikes in the past year, the AER report points out that many of these issues remain unresolved.

View attachment 31482

Transmission investments required to connect new sources of generation are progressing more slowly than planned. Image source: Pixabay

The report states that in 2022, the federal government made a concerted effort to increase renewable energy generation to 82 per cent, with the target of reaching net-zero emissions by 2050 clearly in sight.

The report further notes that Australia is struggling to accelerate renewable energy generation quickly enough, with large projects facing rapidly rising costs.

Simultaneously, the rollout of approximately 10,000 kilometres of transmission infrastructure needed to transport green energy has been delayed due to sustained community opposition.

The AER also found that alongside the closure of the Liddell power station in New South Wales (NSW), four more coal-fired power stations are scheduled to shut down in the next ten years, requiring an urgent and expensive investment in new generation, storage, and transmission capacity.

‘There are also major and urgent pressures for investments to keep pace with the energy transition and retirement of coal generation,’ the report says.

View attachment 31481

Coal generation is the main cause of emissions in the National Electricity Market (NEM) and needs to be taken offline promptly to reach emission reduction goals. Image source: Pixabay

AER chair Clare Savage emphasised that despite some ‘better market outcomes this year’, challenges continue to mount in delivering affordable and reliable energy in the coming years.

‘Work still remains to address energy affordability for consumers, co-ordinate the entry and exit of generation sources and ensure the timely and least-cost delivery of major transmission projects,’ Ms Savage said.

‘These projects face challenges including escalating costs, slower than planned progress and the need to address the concerns of the communities that host them.’

The report also shows that shortfalls in electricity supply are accelerating due to the growing demand for electricity, necessitating increased generation capacity.

Additionally, the report highlights the growing influence of renewable generation, with rooftop solar output accounting for 9 per cent of total generation in 2022—a 15 per cent increase from 2021 and more than double the output in 2018.

In summary, the energy transition ahead poses a significant challenge, and it appears that we may experience further price hikes unless we find and implement effective solutions soon.

We can only hope that government initiatives, investments, and community support will guide us through this challenging period and protect our finances.

Meanwhile, the SDC team will closely monitor the news and will promptly update you on any significant developments.

Key Takeaways

• The Australian Energy Regulator (AER) warns of potential higher power bills as ageing coal-fired generators exit the grid and transmission projects face delays.
• In 2022, the federal government set a renewable energy target of 82 per cent by 2030, but rising costs and community opposition hamper progress.
• The report highlights the imminent closure of Liddell in NSW and four other coal-fired power stations, necessitating urgent investment in generation, storage, and transmission.
• AER Chair Clare Savage acknowledges improved market outcomes this year but stresses ongoing challenges in ensuring an affordable, reliable energy supply, as well as the critical need to address generation coordination and major transmission projects.

Members, we'd love to hear your thoughts on this story. Are you prepared for a possible increase in energy/electricity costs? Do you think the transition to a more renewable grid is progressing too quickly, or not fast enough? Let us know your answers in the comments below!

And they are still pushing for the environmental disaster of electric cars.

 

[mylittletibbies]

The way things are going we'll all need to go back to using candles, icechests and running under the hose to keep cool
Wood stoves, oh no wood's too dear, if you can manage to get any and besides that makes too much pollution.
All this worry about power, but they keep making more and more things in this digital age, that need power
EFTPOS, ATMs, computers, TVs just to mention a few
All things previous generations seemed to do well enough without, and seemed to be a lot happier than our current generation.
They even seemed to have more time for family, even though they didn't have all the time saving devices we have today, but are too busy trying to earn enough money to pay for all these things we can't do without.
Too late to turn back the click.

Whoops, obviously I meant clock, can't blame the spell check for that one.

 

[sharkfin1]

With the harsh reality of constantly rising prices, we could all use some good news when it comes to our household budgets.

But unfortunately, it seems that might not be in the cards for us any time soon.

The Australian Energy Regulator (AER) recently released its ‘State of the Energy Market’ report for 2023, which warns that Australians could face rising power prices for years to come as the country struggles to switch to more sustainable and renewable energy sources.

This is due to the transition away from coal-fired power proving more difficult than expected—with ageing power stations beginning to exit the grid as well as further delays in the construction of renewable energy projects (and the required transmission infrastructure).

While various forms of government intervention managed to delay the worst price hikes in the past year, the AER report points out that many of these issues remain unresolved.

View attachment 31482

Transmission investments required to connect new sources of generation are progressing more slowly than planned. Image source: Pixabay

The report states that in 2022, the federal government made a concerted effort to increase renewable energy generation to 82 per cent, with the target of reaching net-zero emissions by 2050 clearly in sight.

The report further notes that Australia is struggling to accelerate renewable energy generation quickly enough, with large projects facing rapidly rising costs.

Simultaneously, the rollout of approximately 10,000 kilometres of transmission infrastructure needed to transport green energy has been delayed due to sustained community opposition.

The AER also found that alongside the closure of the Liddell power station in New South Wales (NSW), four more coal-fired power stations are scheduled to shut down in the next ten years, requiring an urgent and expensive investment in new generation, storage, and transmission capacity.

‘There are also major and urgent pressures for investments to keep pace with the energy transition and retirement of coal generation,’ the report says.

View attachment 31481

Coal generation is the main cause of emissions in the National Electricity Market (NEM) and needs to be taken offline promptly to reach emission reduction goals. Image source: Pixabay

AER chair Clare Savage emphasised that despite some ‘better market outcomes this year’, challenges continue to mount in delivering affordable and reliable energy in the coming years.

‘Work still remains to address energy affordability for consumers, co-ordinate the entry and exit of generation sources and ensure the timely and least-cost delivery of major transmission projects,’ Ms Savage said.

‘These projects face challenges including escalating costs, slower than planned progress and the need to address the concerns of the communities that host them.’

The report also shows that shortfalls in electricity supply are accelerating due to the growing demand for electricity, necessitating increased generation capacity.

Additionally, the report highlights the growing influence of renewable generation, with rooftop solar output accounting for 9 per cent of total generation in 2022—a 15 per cent increase from 2021 and more than double the output in 2018.

In summary, the energy transition ahead poses a significant challenge, and it appears that we may experience further price hikes unless we find and implement effective solutions soon.

We can only hope that government initiatives, investments, and community support will guide us through this challenging period and protect our finances.

Meanwhile, the SDC team will closely monitor the news and will promptly update you on any significant developments.

Key Takeaways

• The Australian Energy Regulator (AER) warns of potential higher power bills as ageing coal-fired generators exit the grid and transmission projects face delays.
• In 2022, the federal government set a renewable energy target of 82 per cent by 2030, but rising costs and community opposition hamper progress.
• The report highlights the imminent closure of Liddell in NSW and four other coal-fired power stations, necessitating urgent investment in generation, storage, and transmission.
• AER Chair Clare Savage acknowledges improved market outcomes this year but stresses ongoing challenges in ensuring an affordable, reliable energy supply, as well as the critical need to address generation coordination and major transmission projects.

Members, we'd love to hear your thoughts on this story. Are you prepared for a possible increase in energy/electricity costs? Do you think the transition to a more renewable grid is progressing too quickly, or not fast enough? Let us know your answers in the comments below!

Pure greed Whatever happened to Nikola Tesla's free electricity see just greed

 

[Tipsy]

With the harsh reality of constantly rising prices, we could all use some good news when it comes to our household budgets.

But unfortunately, it seems that might not be in the cards for us any time soon.

The Australian Energy Regulator (AER) recently released its ‘State of the Energy Market’ report for 2023, which warns that Australians could face rising power prices for years to come as the country struggles to switch to more sustainable and renewable energy sources.

This is due to the transition away from coal-fired power proving more difficult than expected—with ageing power stations beginning to exit the grid as well as further delays in the construction of renewable energy projects (and the required transmission infrastructure).

While various forms of government intervention managed to delay the worst price hikes in the past year, the AER report points out that many of these issues remain unresolved.

View attachment 31482

Transmission investments required to connect new sources of generation are progressing more slowly than planned. Image source: Pixabay

The report states that in 2022, the federal government made a concerted effort to increase renewable energy generation to 82 per cent, with the target of reaching net-zero emissions by 2050 clearly in sight.

The report further notes that Australia is struggling to accelerate renewable energy generation quickly enough, with large projects facing rapidly rising costs.

Simultaneously, the rollout of approximately 10,000 kilometres of transmission infrastructure needed to transport green energy has been delayed due to sustained community opposition.

The AER also found that alongside the closure of the Liddell power station in New South Wales (NSW), four more coal-fired power stations are scheduled to shut down in the next ten years, requiring an urgent and expensive investment in new generation, storage, and transmission capacity.

‘There are also major and urgent pressures for investments to keep pace with the energy transition and retirement of coal generation,’ the report says.

View attachment 31481

Coal generation is the main cause of emissions in the National Electricity Market (NEM) and needs to be taken offline promptly to reach emission reduction goals. Image source: Pixabay

AER chair Clare Savage emphasised that despite some ‘better market outcomes this year’, challenges continue to mount in delivering affordable and reliable energy in the coming years.

‘Work still remains to address energy affordability for consumers, co-ordinate the entry and exit of generation sources and ensure the timely and least-cost delivery of major transmission projects,’ Ms Savage said.

‘These projects face challenges including escalating costs, slower than planned progress and the need to address the concerns of the communities that host them.’

The report also shows that shortfalls in electricity supply are accelerating due to the growing demand for electricity, necessitating increased generation capacity.

Additionally, the report highlights the growing influence of renewable generation, with rooftop solar output accounting for 9 per cent of total generation in 2022—a 15 per cent increase from 2021 and more than double the output in 2018.

In summary, the energy transition ahead poses a significant challenge, and it appears that we may experience further price hikes unless we find and implement effective solutions soon.

We can only hope that government initiatives, investments, and community support will guide us through this challenging period and protect our finances.

Meanwhile, the SDC team will closely monitor the news and will promptly update you on any significant developments.

Key Takeaways

• The Australian Energy Regulator (AER) warns of potential higher power bills as ageing coal-fired generators exit the grid and transmission projects face delays.
• In 2022, the federal government set a renewable energy target of 82 per cent by 2030, but rising costs and community opposition hamper progress.
• The report highlights the imminent closure of Liddell in NSW and four other coal-fired power stations, necessitating urgent investment in generation, storage, and transmission.
• AER Chair Clare Savage acknowledges improved market outcomes this year but stresses ongoing challenges in ensuring an affordable, reliable energy supply, as well as the critical need to address generation coordination and major transmission projects.

Members, we'd love to hear your thoughts on this story. Are you prepared for a possible increase in energy/electricity costs? Do you think the transition to a more renewable grid is progressing too quickly, or not fast enough? Let us know your answers in the comments below!

The reality of all the wind power tower is a total lie.... the use electricity to keep them going when there is no wind and to start them the land is meant to pay for the repairs when the break down or more times than not they catch fire.... the worst of the lot certain companies are paid hundreds of thousands of dollar with regards to these useless units which cost so much to make and erect that they will NEVER produce enough power from the wind to ever cover their costs... Green energy from wind power is actually a total SCAM and we the people are paying for it in the BS price increases

 

[TonyV]

Numerous countries have woken up to green energy disaster which the world is rushing into. Great Britain and Germany for example have wound back their actions and reopening gas coal and nuclear. But not here in Australia! Dumb and Dumber (Albanese and Bowen) are rushing into certain disaster, cheered on the crazy Greens. Australia is a resource and energy rich country which we export to other countries for them to benefit in the form of cheaper energy. This is madness.

 

[Staffordshire Whippet]

"GO WOKE, GO BROKE", writ large.

 

[Ziggy]

Just vote greens which are really red and vote labor. Politician have a best job ever. Free money (yours) without any responsibilities or accountability...

 

[Wandiwa]

I subscibe to a free daily email bulletin, called The Daily Reckoning, it often discusses the shortcomings of Net Zero or green energy. Its free and recommended.

 

[Night Owl]

Whatever happened to the lowered power pricing ALBO was going to get for us all?
This was, after all, an election promise. JUST ANOTHER BROKEN PROMISE.

 

[relljube]

And they are still pushing for the environmental disaster of electric cars.

Where is the electricity going to come from??? Yet another case of we your environmentally friendly Government are going to do this - don't know how - someone else will have to think up a way to get around this.

 

[magpie1]

Whatever happened to the lowered power pricing ALBO was going to get for us all?
This was, after all, an election promise. JUST ANOTHER BROKEN PROMISE.

Albo's too busy flying around the world with his girlfriend. He hasn't a clue as to what is going on with our energy crisis here in Australia and really appears to not even care too much about how Australians are really suffering with massive price increases for electricity year on year. Both he and the Greens are making a proper bloody mess of this transition of energy sources and it looks like we will have even more increases coming for years to come.......can you believe this damn mess?.....it's outrageous what they have committed us to, considering the ridiculously small amount of CO2 we contribute to the Atmosphere. The cost blowout on this changeover is going to be extraordinary and our kids will be paying for this for ever and a day. Lets hope and pray that the world never has to endure multiple years of a nuclear winter in the future.

 

[Lynjw]

With the harsh reality of constantly rising prices, we could all use some good news when it comes to our household budgets.

But unfortunately, it seems that might not be in the cards for us any time soon.

The Australian Energy Regulator (AER) recently released its ‘State of the Energy Market’ report for 2023, which warns that Australians could face rising power prices for years to come as the country struggles to switch to more sustainable and renewable energy sources.

This is due to the transition away from coal-fired power proving more difficult than expected—with ageing power stations beginning to exit the grid as well as further delays in the construction of renewable energy projects (and the required transmission infrastructure).

While various forms of government intervention managed to delay the worst price hikes in the past year, the AER report points out that many of these issues remain unresolved.

View attachment 31482

Transmission investments required to connect new sources of generation are progressing more slowly than planned. Image source: Pixabay

The report states that in 2022, the federal government made a concerted effort to increase renewable energy generation to 82 per cent, with the target of reaching net-zero emissions by 2050 clearly in sight.

The report further notes that Australia is struggling to accelerate renewable energy generation quickly enough, with large projects facing rapidly rising costs.

Simultaneously, the rollout of approximately 10,000 kilometres of transmission infrastructure needed to transport green energy has been delayed due to sustained community opposition.

The AER also found that alongside the closure of the Liddell power station in New South Wales (NSW), four more coal-fired power stations are scheduled to shut down in the next ten years, requiring an urgent and expensive investment in new generation, storage, and transmission capacity.

‘There are also major and urgent pressures for investments to keep pace with the energy transition and retirement of coal generation,’ the report says.

View attachment 31481

Coal generation is the main cause of emissions in the National Electricity Market (NEM) and needs to be taken offline promptly to reach emission reduction goals. Image source: Pixabay

AER chair Clare Savage emphasised that despite some ‘better market outcomes this year’, challenges continue to mount in delivering affordable and reliable energy in the coming years.

‘Work still remains to address energy affordability for consumers, co-ordinate the entry and exit of generation sources and ensure the timely and least-cost delivery of major transmission projects,’ Ms Savage said.

‘These projects face challenges including escalating costs, slower than planned progress and the need to address the concerns of the communities that host them.’

The report also shows that shortfalls in electricity supply are accelerating due to the growing demand for electricity, necessitating increased generation capacity.

Additionally, the report highlights the growing influence of renewable generation, with rooftop solar output accounting for 9 per cent of total generation in 2022—a 15 per cent increase from 2021 and more than double the output in 2018.

In summary, the energy transition ahead poses a significant challenge, and it appears that we may experience further price hikes unless we find and implement effective solutions soon.

We can only hope that government initiatives, investments, and community support will guide us through this challenging period and protect our finances.

Meanwhile, the SDC team will closely monitor the news and will promptly update you on any significant developments.

Key Takeaways

• The Australian Energy Regulator (AER) warns of potential higher power bills as ageing coal-fired generators exit the grid and transmission projects face delays.
• In 2022, the federal government set a renewable energy target of 82 per cent by 2030, but rising costs and community opposition hamper progress.
• The report highlights the imminent closure of Liddell in NSW and four other coal-fired power stations, necessitating urgent investment in generation, storage, and transmission.
• AER Chair Clare Savage acknowledges improved market outcomes this year but stresses ongoing challenges in ensuring an affordable, reliable energy supply, as well as the critical need to address generation coordination and major transmission projects.

Members, we'd love to hear your thoughts on this story. Are you prepared for a possible increase in energy/electricity costs? Do you think the transition to a more renewable grid is progressing too quickly, or not fast enough? Let us know your answers in the comments below

 

[Lynjw]

OMG not again. How r we going to afford these continuing increases. I know I can’t. It will cost lives as many elderly due from heat exhaustion or freezing in winter due to not being able to afford cooling or heating. It’s mass murder.