The imminent shutdown of the Hunter Valley power station may drive up prices and trigger more frequent squeezes on supply.
The imminent shutdown of the power station that provides more than 10 per cent of NSW’s electricity may drive up power prices and trigger more frequent squeezes on supply as coal closures accelerate.
While the Australian Energy Market Operator says supply is not at risk, energy users and analysts are not ruling out upward pressure on prices despite how well-telegraphed the shutdown of Liddell’s remaining 1200 megawatts of capacity has been. But energy market specialist Ben Tudman agrees that significant shortfalls in generation are unlikely.
A plan AGL was required to draw up to replace Liddell’s capacity was closely scrutinised by AEMO and governments. That included a proposed 250MW gas power station in Newcastle, as well as 500MW more gas power capacity in the state, a 100MW upgrade of its neighbouring Bayswater coal plant, and investments in renewables, storage and demand response.
, and the timetable for other coal shutdowns by AGL and EnergyAustralia have also been accelerated as cheap wind and solar pile financial pressure on the ageing baseload plants.An aerial view of the Liddell Power Station in the Hunter Valley, which has been a workhorse of the NSW power system.“The reality is that change is coming faster than we have solutions ready to deal with it,” said Matt Rennie, managing director of independent consultancy Rennie Advisory.
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