The NSW Government’s recent $1.8 billion funding announcement and response to the Electricity Supply and Reliability Check Up is sensible and measured, except for the potential consumer-funded Eraring extension.
Congratulations Premier Minns, Minister Sharpe and Cameron O’Reilly on moves to reform the long-duration storage policy to support pumped hydro, and the injection of capital into the newly formed Energy Security Cooperation to drive investment in these projects and battery storage.
Well done also on seeking to unlock extra capacity in the grid through the ‘Grid Black Spot Program’, a more coordinated approach to social licence and community benefit-sharing, as well as innovative approaches to network connection agreements.
Stride understands the government’s concern about the closure of Eraring but thinks that extending its life may not be in the consumer interest. For example, battery projects can be accelerated by targeting investor returns, approvals and connections for the same (or less) money, while delivering long-term, low-emissions firming assets to NSW.
The NSW Electricity Supply and Reliability Check Up and the Government’s response are both here.