Anthony Albanese and the Energy Security Board are determined to get the states to agree on a capacity mechanism for back-up power, but it’s a tough act.
is “bitter but essential”, according to its economic minister, Robert Habeck.
But as the past few weeks have proven, the practicalities of Australia’s national energy transition and timetable are more complicated than suggested by the embrace of renewables. Energy security has become a much more important focus of public debate.The high cost of massive new transmission infrastructure for the east coast also puts into perspective the repeated dismissals of Colin Barnett’s grand vision.
But it still leaves the prime minister trying to herd a gaggle of premiers into agreeing on measures to ensure more reliability as well as more renewables – at the least political and economic cost. This involves a “capacity mechanism” to pay generators for having back-up “firming power” available when needed as insurance.
Coal still accounts for about 60 per cent of power generation in the national electricity market but generators have announced the accelerated closure of some big plants. The catch is the limited range of options as yet for what new technologies can adequately replace that as part of the “orderly transition” hoped for by regulators and governments.
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