Australian Chart of the week | Slip slidin’ away, You know the nearer your destination

In our previous ‘Chart of the week’ back in November 2020 (Issue 61), we looked at the projected uptake of battery storage projects in the National Electricity Market (NEM). Nine months on, with a number of large projects announced, we felt it was worth an update.

In our last chart, Victoria (VIC) was the state with the largest number of proposed projects, with New South Wales (NSW) in second place. However, NSW is now 1.5GW ahead of VIC, with more than 8GW of projects announced. If we include announced projects, we now have more than 27GW across more than 150 projects NEM wide (The average project size increased from ~150MW to ~177MW). There are now more than 50 projects proposed over 200MW and 12 over 500MW). Even if only 10% of the total announced projects are actually delivered, this is ~4GW of storage capacity.

Ben Cerini

Ben Cerini

To keep reading, please log in to your account or sign up for free

Alternatively, please sign up to receive free market insight online and direct to your inbox

Log in or sign up for free
Contact us

Related thinking

Power and gas networks

Will we run out of gas this winter?

In unfavourable conditions, gas shortfalls on peak days this winter are a distinct possibility highlighted by AEMO’s 2023 Gas Statement of Opportunities (GSOO). The GSOO is released yearly and provides a forecast of the adequacy of east coast gas supplies based on demand forecasts. The GSOO can highlight to the...

Business supply and services

Average gas and power prices for SMEs declined sharply in February

From late 2021, small and medium enterprises (SMEs) looking to secure a fixed energy contract would have seen steep increases in their energy bills, driven primarily by price volatility in the wholesale energy markets. In this week’s 'Chart of the week', we discuss the changes in prices for SMEs up...

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...

E-mobility and low carbon

Taking charge: are they ready? Local authority charging infrastructure plans

Electric vehicle (EV) uptake and public charge point installs have increased rapidly over the last few years, but to support the next wave of EV drivers, the public charging network needs to be improved. Government has outlined the leading role it expects from local authorities (LAs) in planning and delivering...

Commercial and market outlook

Prices soar in the west

For the first time in the history of the Western Australian Wholesale Electricity Market (WEM), the balancing price reached the maximum price limit of $1,018/MWh between 5:30pm and 7:30pm on Tuesday, 29 November 2022. This came one month after the state-owned Muja C Unit 5 coal power station was closed....

Energy storage and flexibility

Out with the old, in with the new: T-4 Capacity Market clears at record price

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.

Energy storage and flexibility

A pebble in the water makes a ripple effect…

At demand levels averaging only ~200-700MW, FCAS markets are dwarfed by the ~20,000MW energy demand in the NEM. Nonetheless, with 8 different markets to participate in, the potential value that participating in FCAS can add to a participant's revenue should not be underestimated. In this Chart of the week, we...

Power and gas networks

Push to meet renewables targets intensifies charging differences in GB

Higher transmission costs for generators in Scotland have been a feature of the GB electricity market since the introduction of cost reflective pricing, but with the ambition to increase generation levels from offshore and onshore wind and meet Net Zero generation targets, this is likely to increase. In this week’s...