The findings from international research firm Rystad Energy put the blame squarely on the lagging build-out of the transmission grid.
Australia is set to fall well short of its 2030 target for 82 per cent renewable energy, with extra measures needed to move it past 64 per cent, according to research firm Rystad Energy, which expects Origin’s Eraring coal power station to have to run for several years longer to prevent spiking prices.
“We have to push Eraring back ... Realistically anything that’s dispatchable capacity to replace it needs to have started construction by now,” Mr Dixon toldHe warned that the consequences of shutting Eraring before critical replacement supply is in place, was “massive, massive volatility” in wholesale prices, while blackouts could not be ruled out, depending on weather and plant outages.
“There are real issues to overcome,” he admitted, while pointing to progress towards early consultation with affected communities, financial compensation for landholders andMr Dixon pointed to several options that could nudge the 2030 renewables figure higher.
“We no longer need upfront subsidies for solar, particularly for residential consumers, it makes no sense,” he said.
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