The Australian Energy Market Operator's new update warns that the outlook for the national grid has worsened since FebruaryAEMO has called for "imminent and urgent investment" to ensure reliability
It calls for "imminent and urgent investment", arguing without action "the reliability of the National Electricity Market " will be at risk.The report points to a number of factors worsening the outlook for reliability across the grid, but also points to actions underway by various government that could potentially mitigate the risks.
"Over the 10-year outlook, we continue to forecast reliability gaps, which are mostly due to the notified retirement of approximately 20 per cent of today's older coal and gas fleet by 2033. Peak periods are still forecast to place enormous pressure on the grid particularly if the coming summer is hotter and drier than average, as the Bureau of Meteorology is currently suggesting.
But the report also points to the opportunities available in more households adopting solar panels and batteries, particularly if the power generated and stored can be coordinated across the grid.Government plans may ease risks And AEMO points to 173 gigawatts of new renewable energy projects, and 74 gigawatts of dispatchable power, which could ease reliability problems if they are built in a relatively short timeframe.