The electricity grid in Australia is changing from a centralised coal-based generation system, to a grid with increasingly larger amounts of weather dependent wind and solar. The drive to decarbonisation is bringing into stark relief the differentiation between asset capacity and asset availability to both the operators and electricity markets. With the recent experience of high electricity prices in South Australia is evidence that electricity market dynamics are being affected by seemingly disparate policy drivers. These may likely deliver perverse outcomes both in terms of emissions reduction as well as energy costs to the economy. Technology options, policy positions and societal expectations are all contributing to the changes taking place.
This projects aims to deliver the Australian modelling method and results that discern the merit of power generation technologies that take account of their value in terms of grid services. By taking a holistic approach to the system, the modelling work will value technologies and the services they provide for both current technologies and those that may be added to the grid in the future.