ARENA is providing $15 million (US$9.8 million) in funding to the Australian Energy Market Operator (AEMO) to support the transition to a largely renewable electricity system in Australia.
The funding aims to help the energy grid handle a higher percentage of renewables and reduce dependence on fossil fuels. AEMO is responsible for managing electricity and gas systems and markets nationwide to ensure affordable, secure, and reliable energy for residents.
Data from AEMO shows that renewables accounted for a record 72.1 percent of the national energy market.
ARENA CEO Darren Miller emphasized the importance of preparing for the challenges of transitioning to an electricity system based on wind, solar, and storage. He highlighted the crucial role AEMO plays in managing this transition effectively.
AEMO CEO Daniel Westerman welcomed the funding, stating that it will enhance the power system’s readiness for high renewable operation and help manage the retirement of ageing coal generation facilities.
The Albanese government is committed to achieving net zero emissions by 2050 and reducing emissions by 43 percent by 2030. The Labor Party aims to reach these goals with 100 percent renewable energy supported by gas, while the Coalition plans to build seven nuclear reactors in Australia if they win the next election.
The Opposition points out that no country relies solely on solar and wind energy, with many operating zero-emissions nuclear plants. The proposed nuclear reactors in Australia would be located at closed or closing coal-fired power stations across several states.
These include power stations in New South Wales, Victoria, and Queensland, as well as small modular reactors in South Australia and Western Australia.
