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April Energy Market Wrap Up

The latest energy market insights from across the country curated by our team of experts.

In the news this month:

  • Solar Farm in regional Victoria to power 71,500 homes
  • NSW makes energy a priority
  • Relief package for QLD households
  • Battery Scheme for South Australia

WHOLESALE ELECTRICITY MARKET DURING COVID-19


VICTORIA

Solar Farm in regional Victoria to power 71,500 homes

Located at Sebastian, about 20 minutes drive north of Bendigo, construction of a 200 megawatts solar farm is due to commence with a view begin operating in late 2021. It will be capable of powering 71,500 homes and will save roughly 421,000 tonnes of carbon dioxide emissions per year which equates to taking about 90,000 vehicles off the road.

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NEW SOUTH WALES & ACT

NSW makes energy a priority

The NSW Government has unveiled its plan, Net Zero Plan Stage 1: 2020-2030, to boost the economy, create 2,400 new jobs and reduce emissions by 35% over the next ten years. The $11.6 billion plan, which is focussed on impacting climate change, will support a variety of electricity and energy efficiency initiatives including coal innovation, electric vehicles, hydrogen and carbon financing. The goal is to support businesses in modernising to increase productivity at their plants and give farmers access to much-needed environmentally and financially sustainable technology.

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QUEENSLAND

Relief package for QLD households

The Queensland Premier, Annastacia Palaszczuk, has announced the state will invest a further $4 billion in a move to support the health and job security of all Queenslanders. “To date, this is the biggest single relief package assembled by any state or territory,” the Premier said. “Our $300 million household relief package will give Queensland households $200 off their utility bills, building on the $50 asset dividend we have already announced.

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SOUTH AUSTRALIA

Battery Scheme for South Australia

South Australia’s Home Battery Scheme is aimed at providing households with cleaner and more reliable power sources. The scheme, which is due to drop the level of subsidies for households investing in a battery on 15th April 2020, will give households access to $100 million in subsidies, plus an additional $100 million in loans. The installation of such storage devices is expected to reduce the demand placed on the grid today (particularly in peak periods) which should, in turn, reduce the price of power for the entire state.

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TASMANIA

Aurora provides bill relief for impacted homes and businesses

Tasmanian energy retailer, Aurora, is helping residential and small business customers impacted by the COVID-19 pandemic with the establishment of a $5 million support fund. Support includes waiving of fees, bill relief, payment plans and freezing debt. In addition, last Thursday, the state government announced a 12-month price freeze on energy bills. Rebecca Kardos, Chief Executive at Aurora, commented "These are extraordinary circumstances, but Tasmanians can be assured we're doing and we'll continue to do what we can to help our customers and our community through these tough times,"

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