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A new paper from the Australian Energy Market Operator (AEMO, 2019a) has highlighted the importance of investing in state interconnectors –such as Project EnergyConnect - to unlock renewable energy sources and drive down power bills for customers.
Commenting on its latest Insights paper (AEMO, 2019a), AEMO said investment in the transmission network is a critical factor in ensuring the reliability and affordability of the National Electricity Market (AEMO, 2019b). Investment in interconnectors such as Project EnergyConnect will play a major role by boosting competition and market efficiency, ultimately resulting in lower costs and better services for energy consumers.
Based on the high-level studies it has carried out so far, AEMO also believes Project EnergyConnect would provide significant benefits to renewable energy providers in Western Victoria and Murray River (AEMO, 2019a, p18). This will no doubt drive further investment in renewable projects along the interconnector lines, driving jobs and economic growth in regional SA and Victoria.
This is encouraging confirmation from the national market operator that Project EnergyConnect will play a vital role in securing Australia’s energy future.
For more information or to read the full paper, click the link below.
References
AEMO, 2019a, Insights: Building Power System Resilience with Pumped Hydro Energy Storage, July 2019, accessed 11 July 2019, http://aemo.com.au/-/media/Files/Electricity/NEM/Planning_and_Forecasting/ISP/2019/ISP-Insights---Building-power-system-resilience-with-pumped-hydro-energy-storage.pdf
AEMO, 2019b, Media Release: Increased storage and transmission to facilitate a resilient energy future, accessed 11 July 2019, https://energylive.aemo.com.au/News/Increased-storage-and-transmission-to-facilitate-a-resilient-energy-future