LOOMING ENERGY SUPPLY CRISIS COULD ARRIVE EARLIER THAN PROJECTED
The looming crisis in energy supply could arrive earlier than projected, according to the Australian Energy Market Operator’s (AEMO) Electricity Statement of Opportunities.
Last year AEMO brought forward its projections for a gap in energy supply for NSW to now occur in 2025-26, which it originally predicted to occur in 2029-30. Today AEMO is predicting new risks to energy reliability beginning as early as 2023-24.
A gap means that demand for energy will outstrip supply, heightening the risk of power shortages and blackouts in the community.
Under the Liberals
It’s clear that the NSW Liberals and Energy Minister Matt Kean have dropped the ball on energy supply.
This report shows serious shortcomings in the NSW Government’s plan to meet the shortfall of coal and gas plant closures.
The NSW Government’s privatisation of power generation has left the state vulnerable to power shocks and shortfalls with little leverage to fix this looming threat.
NSW has no control over when these power stations come offline because between 2013-2015 the Liberals and Nationals sold off all NSW’s state-owned generators.
Planned Renewable Energy Zones (REZ) to substitute coal and gas are nowhere near ready. The most advanced REZ in the Central-West Orana does not have a single shovel-ready project. The REZ in the Illawarra has not even been declared yet.
In June last year, Energy Minister Matt Kean urged people to switch off their dishwashers during the peak evening period to avoid black outs and power outages.
Labor’s plan for energy security
On Sunday, Labor announced a Minns Labor Government will create the NSW Energy Security Corporation, a state-owned body that will accelerate investment in renewable energy assets that will deliver cleaner and more reliable energy and help keep the lights on.
Labor will also deliver more stability and reliability in our state’s energy supply by building community batteries.
The community batteries will be delivered through the NSW Energy Security Corporation.
Community batteries allow homes within a neighbourhood to store excess power generated during the day from their rooftop solar panels.
The stored power can be used later in the evening when demand on the electricity network is traditionally higher.
It also means that families can use more of the power that they generate, particularly at night, lowering their overall energy bills.
It will also take pressure off the grid during periods of peak demand.
Chris Minns, NSW Labor Leader, said:
“Families and businesses across NSW are set to pay the price of this government’s relentless privatisation agenda. Dominic Perrottet and Matt Kean have never seen a stable state-owned asset that they don’t want to sell off.”
“Labor’s Fresh Start Plan for energy will ensure we can help keep the lights on while keeping essential services in public hands and creating good jobs across the state.”
Jihad Dib, Shadow Minister for Energy & Climate Changed, said:
“Matt Kean is too busy playing internal Liberal party politics that he has taken his eyes off a looming energy crisis and placed our state’s energy needs at risk.”
“The self-styled man with a plan is once again found wanting as his energy plan sees NSW on the verge of an energy crisis. The people of NSW deserve a minister focused on addressing the incoming energy problems we face.”
