The latest energy market insights from across the country curated by our team of experts.
With a growing sustainability-conscious consumer base, modern business owners continue to be challenged by the demand of greener products and brands with a pro-environment outlook. And rightfully so: economically and socially, we face mounting pressure in the face of climate change, energy shortages, liveable wages, ethical consumption… the list goes on, and overwhelms quickly.
It seems so easy to ignore the necessity of sustainable practice, as either immeasurable for stakeholders or too difficult to implement, when in reality the inspiration to do so is both fiscally and culturally available. Simply put, showing consumers your commitment to sustainability has been proven to increase brand value and offer an incentive to your soon-to-be customers when comparing you to other competitors.
NEW SOUTH WALES AND ACT
Essential Energy is a state-owned electricity infrastructure company which owns, maintains and operates the electrical distribution networks for much of New South Wales, covering 95 per cent of the state geography. It has been working since the 1st January to restore power to more than 3.,000 customers left without power following bushfires that affected both the South Coast, Riverina and Snowy Valley regions of NSW.
With a highly coordinated and focused response, just over 90 per cent of customers affected by power outages have had power restored.
Despite working in fire grounds affected by smoke, contending with difficult terrain and dealing with hazardous trees, an additional 1,300 customers had their power restored on 10 January. Around 3,800 Essential Energy customers remain without power.
Increasing brand value
The definition of brand value is, in essence, the total viewed worth of the business. Value is impacted by visibility, loyalty and - sometimes most importantly - association. We see major brands make association decisions every day that enhance reputation, position a product, or defer focus from less customer-aligned elements of the brand.
For example, Nike’s decision to feature controversial sports star Colin Kaepernick in their advertisements was considered a bold but intriguing move. Despite a social media led war cry promising to boycott the brand, Nike saw a value increase of $26.2 billion: a testament to the impact of association, and the appeal of a brand choosing to take a stance and show their values.
The Retailer Reliability Obligation (RRO), put forward by South Australian Minister for Energy and Mining, Dan van Holst Pellekaan, will come into effect in South Australia for the first quarters of 2022 and 2023.
The RRO is designed to support reliability in the National Electricity Market (NEM). In particular, it encourages retailers, and some large energy users, to establish contacts for their share of demand for a prescribed period.
A Tasmanian Chamber of Commerce and Industry report last year found the state lags behind the rest of the country in economic and social outcomes but a proposed energy idea could provide a possible solution towards closing the gap.
University of Tasmania pro-vice-chancellor David Adams proposed one way to bring better economic and social outcomes to northern Tasmania and regional areas was by basing the state's future power project in Launceston
2019 was the biggest year for small-scale solar in Australia
Records were broken last year, with a 35% increase in small-scale solar system installations across Australia compared to the previous year.
This is the biggest YOY growth we've seen to date and the Australian Energy Market Operator and Clean Energy Regular predict the boom won't stop anytime soon.
Queensland leads the way with over 600,000 solar systems installed to date, followed by New South Wales with just over 530,000 and then Victoria with more than 438,000 systems.
Due to the uptake of many small to medium size businesses leveraging solar to reduce their energy bills, the average size of rooftop solar has grown to 8kW.
As of January 1, the federal rebates for solar systems were reduced by just under 10%, however, with power prices increasing in many states, the return on investment for homes and business is still very strong.
Source: Renew Economy