Queensland

  • Commercial and market outlook

    How does thermal storage stack up compared to batteries?

    Along with the retirement of coal/gas power plants in the NEM, long-duration energy storage systems (LDESS), often exceeding 8 hours of storage, are becoming more crucial in transitioning to a more sustainable and renewable energy future. LDESS technologies, such as battery storage systems (BESS), thermal energy storage systems (TESS), compressed...

  • Commercial and market outlook

    It’s the Liddell things that matter

    Australia’s oldest coal-fired power plant Liddell retired completely in the last week of April 2023 after 52 years. This giant of AGL, which had a total registered capacity of 2,000 MW, operationally acted as a 1600MW station and 1200MW after the closure of its third unit. Australia’s transition to clean...

  • Commercial and market outlook

    Patriots ‘Dynasty’ off to a rough start, as New England suffers loss to the MLFs…

    For many, the first of April is marked in calendars as a day for jokes and silly nuisances. For the few, specifically the energy industry, we have it pencilled in for the release of the upcoming year’s Marginal Loss Factors (MLFs). Over the last half-decade, movements in MLFs have received...

  • Energy storage and flexibility

    Turning Japanese: Typical power price spreads in Japan

    Cornwall Insight has been supporting customers in the Japanese market for some time now. This Chart of the week explores the daily spreads seen in recent quarters and why a number of international players are turning to Japan. The Japanese market has experienced substantial volatility in recent quarters. The island...

  • Energy storage and flexibility

    Crying over spilled solar – how much can a battery help?

    A standalone battery earns its revenue not only from the arbitrage opportunity between day and night prices but also from participation in FCAS markets. This remains true when the battery is paired with a solar farm but can be complicated by constraints or trade-offs between FCAS participation and solar export....

  • Power and gas networks

    Queensland SuperGrid – Faster than a speeding bullet

    The Queensland Energy and Jobs Plan (QEJP) sets an ambitious goal to deliver the Queensland SuperGrid. The SuperGrid is the future electricity system aiming to deliver consumers clean, reliable, and affordable power. As part of the plan, all publicly owned coal-fired power plants are intended to be retired by 2035....

  • Energy storage and flexibility

    State of Storage: Investigating battery profit for NEM states

    It has been an interesting year for Australian energy markets, facing unprecedentedly high energy prices, coal outages, and market suspension. In today’s Chart of the week, we will investigate the impact a BESS would have made during FY 2022. Using Cornwall Insight Australia’s battery simulation model, we simulated a stand-alone...

  • Commercial and market outlook

    Off the charts: ESOO flags earlier reliability shortfalls but no need to panic yet

    In the space of a year, the prospect of reliability shortfalls in the NEM has increased significantly. This is the stark finding of AEMO’s latest Electricity Statement of Opportunities (ESOO) report. In our Chart of the week, we illustrate how reliability forecasts have deteriorated in just a year, and we...

  • Commercial and market outlook

    Elevated Wholesale Price in the NEM: QLD on the verge of triggering Administered Price Cap (APC) again

    The Administered Price Cap (APC) was triggered for the first state on 12 June at 6:55 am as a result of QLD breaching the Cumulative Price Threshold (CPT) of $1,359,100 for the rolling 7-day period. This caused the withdrawal of capacities by gas generators that could not recover fuel costs...

  • Energy storage and flexibility

    Price spikes in Queensland: Is solar revenue affected?

    In the last few months, we have seen a substantial number of high price intervals in Queensland. Increased Market Demand on 9 March and the simultaneous trip of Gladstone units 3 and 4 on 31 March spiked energy prices to $8,800/MWh and $15,100/MWh levels, respectively. These price spikes occurred between...

  • Commercial and market outlook

    Back to the Future P-IV: Are P5 Forecasts reliable?

    Is there a correct way to be one step ahead of your competitors? Do you want to be able to know the price before settlement accurately? The P5 Reports supposedly provide this… or do they? Many participants use this data to determine optimal outcomes for their fleets. Still, there is...

  • Commercial and market outlook

    Is the NEM going off schedule?

    Is the NEM getting harder to control with rising variable renewable generation and distributed photovoltaic growth? AEMO’s balancing of scheduled supply is critical to ensure the system remains stable and wholesale prices work efficiently. This Chart of the week briefly examines if the NEM is “on schedule” to meet this...

  • Commercial and market outlook

    Residues of negative pricing

    Building on the last two Charts of the week, the rise in the frequency of negative wholesale energy prices in the NEM has impacts beyond the price of electricity. In this Chart of the week, we take a closer look at the impact of negative pricing on Inter-Regional Settlement Residue...

  • Low carbon generation

    Australian Chart of the week | Up and down: price volatility in Queensland

    In our previous ‘Chart of the week’, we observed increased intraday price volatility since late May, where we are seeing higher morning and evening prices. The Australian Energy Market Operator’s (AEMO’s) released Quarterly Energy Dynamics (QED) report for Q2 2021 attributed the price increase to reduction of thermal generation supply...

  • Power and gas networks

    Australian Chart of the week | Correlation does not imply causation: the story of GPG demand

    “Gone are the days of $4/GJ gas”. This is a phrase that many following the Australian energy markets have heard numerous times and believed to be true since the advent of the Liquified Natural Gas (LNG) industry in Queensland. For years, this phrase held true with the gas spot price...

  • Energy storage and flexibility

    Australian Chart of the week | Distribution networks unDER the pump

    Rooftop solar has grown rapidly over the last decade, numbers indicate that almost 10GW has been installed across the NEM. However, AEMO’s projections indicate that there is still plenty more to come (~4GW over the next decade). The effects of behind-the-meter (BTM) solar on market outcomes are well documented (including...

  • Energy storage and flexibility

    Australian Chart of the week | Guess who’s back… Batteries are back… back again

    We have seen a number of Australian storage projects announced over the past four months. AGL has announced 200MW of storage with Maoneng and a further 100MW in Queensland. Neoen has also announced an upgrade to the Hornsdale Power Reserve (HPR) by another 50MW. This week's Chart of the week is an update...

  • Low carbon generation

    Australian Chart of the week | From sunrise to sunset: the outlook for merchant solar

    Utility-scale solar is certainly making an impression on the NEM with the recently released Quarterly Energy Dynamics from the Australian Energy Market Operator (AEMO). It reported that Q4 2019 saw the highest grid-solar output on record. In addition, Shell announced its first foray into the world of utility-scale solar. They...

  • Low carbon generation

    Australian Chart of the week | Price cannibalisation in the NEM: dawn of new era?

    Price outcomes in the NEM in recent weeks have left many wondering if the market is entering a new era of increased risk and volatility in prices even before 5-min settlement kicks in. In this week's Chart of the week, we look at prices at certain settlement periods. We analyse...