Results of the first auction under the new Italian renewables subsidy were announced on 28 January by GSE, the country’s energy agency. The format of the auction provides top-up premia for generators, with developers bidding reductions of between 2% to 70% against a reference price of €70/MWh (£59.40/MWh).
This was the first in a series of seven auctions planned over the period to end-2021, with the next to be held this month. Up to 4.7GW of capacity will be supported in total.
Energy storage and flexibility
On 21 February, the T-4 Capacity Market auction for Delivery Year 2026-27 cleared at a record high price of £63.00/kW/year, procuring 43,000.955MW of capacity. In this week’s 'Chart of the week', we explore the key takeaways from the auction.
Commercial and market outlook
According to South Australia’s Hydrogen Power Plant study, the global demand for hydrogen is projected to reach 650 megatons in 2050, with a potential export market of $300b per year. In this market, Australia is well placed for renewable hydrogen production with a considerable penetration of variable renewable energy (VRE)....
Energy storage and flexibility
The choice of Chart of the week was an easy one following Saturday’s storms that ‘reined’ down on South Australia. The state became isolated from the rest of the National Electricity Market after one of ElectraNet’s pylons, supporting the interconnector between SA and Victoria, was knocked down[1]. The consequence...
Energy storage and flexibility
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...
Power and gas networks
With the development of Renewable Energy Zones (REZs), the need for transmission augmentation arises to unlock the transfer of energy from Renewable Energy Zones to major load centres. This may subsequently increase the commercial viability of renewable generators within the Renewable Energy Zones, for example, by reducing plants’ technical curtailments...
Low carbon generation
The Victorian Government launched Australia’s first offshore wind targets as part of its transition towards a net-zero emission future. According to the target, 9GW of offshore wind will be installed by 2040, nearly quadrupling the total wind capacity in VIC. In this Chart of the week, we dive into the...
Low carbon generation
The application window for Contract For Difference (CfD) Allocation Round Four (AR4) closed on 14 January. While we await news on the timetable and next steps for the auction, this 'Chart of the week' takes stock of how the pipeline for onshore wind and solar PV has developed since the...
