Power shortages could be averted with the inevitable increase in battery storage that would come from fair market pricing.
Emma Bossley, May 14, 2024
Adoption of battery energy storage systems has begun at grid scale as well as in businesses and homes around the country, however, more storage could be installed quickly if flexibility payments valued the contribution battery storage could make to the network in times of shortage.
Flexibility payments recognise the ability of electric vehicles, small and large scale solar and batteries or other smart energy systems to alter their behaviour in response to energy shortages, selling energy back into the grid when needed to increase electricity supply.
SEANZ is urging Minister of Energy, Simeon Brown, to mandate retailers to hasten retail product innovation and offer pricing which appropriately values battery storage.
SEANZ Chair Brendan Winitana says: “power shortages such as those experienced across the country this morning could be averted if the appropriate pricing signals are sent to the market.
“To ensure the lowest-cost and cleanest energy solutions are invested in, fair pricing needs to be available otherwise we risk locking in costly new fossil fuel generation, network upgrades, and higher electricity charges for the future”.
ENDS
Tell us what you think
No comments yet.
