Closing Liddell power station would lift NSW wholesale power prices by more than a quarter but the effects would decline as more capacity entered the market, according to a leaked report | p_hannam
, assessed how the electricity market would be affected by the shutting of the ailing AGL coal-fired power plant in the Hunter Valley.
"The Liddell Taskforce found that the market has not adjusted since AGL first announced their plans for Liddell and history shows that it has market forces that prevent it from adjusting," said a spokesman for Angus Taylor, the federal Energy and Emissions Reduction Minister. It noted that a range of committed projects, including those by AGL to add capacity such as giant batteries "would be more than sufficient to maintain a high level of reliability as Liddell exits", the report found.
"What we can say is that the electricity forward markets are not expecting the prices that this report alludes to," Dr Mountain said. They suggest that no new capacity is required for NSW to meet the reliability standard until 2029-30 when the next coal plant, Vales Point, is due to exit, Dr McConnell.
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