Update and outlook: electricity and gas prices
Upgrading our electricity network While overinvestment in the network has been a problem in the past, well-targeted network investments will be needed as our energy system continues to evolve. In particular, we need to increase interconnections between states, build transmission lines to parts of the country that can support large-scale renewables, and maintain the reliability and safe operation of electrical infrastructure as our energy system decentralises. Getting the balance right between over- and under-investment in the network as our energy system transforms is one of the key challenges facing policymakers and regulators.
Key:
Figure 5: Australia’s energy networks. Source: Australian Energy Market Operator (AEMO) 2019.
Electricity network Gas network
The goal that I’m setting for us, Australia’s independent system operator, is to harness the talents, capabilities, experience and know-how across the industry, to engineer grids that are capable of running at 100 per cent renewables penetration – at any moment in any day – by 2025. Daniel Westerman Chief Executive Officer Australian Energy Market Operator
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