Australia’s energy market ‘in crisis’ within the year

Australian Industry Group Chief Executive Innes Willox warns the national energy market “could be in crisis” within the year. A new report from energy market operator AEMO warned Australia faced mass blackouts after the Liddell Power Station was shut down. AEMO warned Australia needed to target investment in dispatchable power including coal, gas, battery and pumped hydro to meet the expected shortfall during peak demand. Mr Willox told Sky News the current energy climate was “bad news for business and bad news for households because there’s a lack of certainty around power for the summer coming up”. ‘We can only see high prices for energy on the horizon for as far as the eye can see,’ he said. ‘And we’re in a situation where things are not getting better, they’re probably teetering towards getting worse.’ Mr Willox urged the government to “work out storage for renewables” because that was “the next big challenge”. Image: Getty

from National | Daily Telegraph https://ift.tt/2TZdVrF