2022 Energy Masterclass Series with Baker McKenzie and Cornwall Insight Australia
Webinar 1: Draft ISP and the Energy Storage Rule Change
Australia’s energy markets are currently undergoing significant transformation as the energy sector pushes forward with the energy transition to a net-zero carbon economy. The Energy Security Board (ESB) and the Australian Government along with several of the State Governments have been tasked with leading the design and implementation of a National Electricity Market (NEM) 2.0. The NEM 2.0 will be designed to integrate high amounts of renewable energy in-front through the development of renewable energy zones (REZs) and behind-the-meter, along with retiring and new dispatchable power and various forms of storage technologies. Alongside the electricity sector reforms being led by the ESB as part of the NEM 2025 proposal, the Australian Government, businesses and regulators are also putting measures in place to establish frameworks to accelerate and promote investment in low emissions technologies across the energy sector.
As an extension of our 2021 series, Baker McKenzie and market leading energy consultancy Cornwall Insight Australia are pleased to invite you to the first session in our 2022 Energy Masterclass series of webinars.
The first Masterclass session will explore the draft 2022 Integrated Systems Plan (ISP) published by AEMO on 10 December 2021, and the rule change to facilitate the integration of energy storage and hybrid systems into the NEM made by the AEMC on 2 December 2021.
- Draft 2022 ISP – AEMO issued the draft 2022 ISP late last year, with the final 2022 ISP being published in June this year. We will explore:
o the Step Change scenario including developments and investment forecasted in the draft 2022 ISP
o the draft Optimal Development Path
o what this is likely to mean for the market and market reform
- Energy storage rule change – We will cover:
o an overview on the final rule change on energy storage
o what the final rule change does not cover and what that means
o what the final rule change means for new entrants to the NEM and the impacts on participants with existing sites
o offtake arrangements and settlement of volumes and/or price for assets installed behind the meter