Expanding Australia’s Green Energy with REGOs

Australia is advancing its commitment to sustainable energy with the introduction of a new credentialing system, known as REGOs, set to launch in 2025. These Renewable Energy Guarantees of Origin will complement the established Large-scale Generation Certificates (LGCs), offering recognition to a broader range of clean energy producers.

Currently, LGCs serve as a marker of renewable energy production for larger-scale projects, yet many valuable sources of renewable energy remain unrecognized. REGOs aim to bridge this gap, acknowledging the contribution of small and international renewable energy operations.

Uniquely, REGOs have the capacity to represent incremental energy contributions from smaller producers. This approach is pioneering and calls for meticulous development of tracking and valuation methods for REGOs. The goal is to ensure a diverse and equitable representation of all renewable energy contributors in the market.

As Australia looks to a future where clean, renewable energy is paramount, REGOs stand to play a pivotal role in increasing the availability and recognition of renewable energy contributions across the nation.

This is a summary article from Edge2020 – read the original article.

Looking to reduce your business’s energy expenses without any extra cost? Edge Utilities makes it possible through collective purchasing, which enables you to unlock substantial savings. Our focus is on empowering SMEs like yours by fetching the most competitive rates available. You can get in touch with us by emailing us at save@edgeutilities.com.au or calling us at 1800 334 336. Start saving today with Edge Utilities!

Australia’s Energy Future: A Community Approach

Hand placing the final wooden block labeled 'Net Zero' on top of a stack with other blocks displaying green energy and sustainability icons, against a blurred natural background.

The Australian government is moving forward with its plan to rewire the nation, a project that could be quite costly, with land acquisition prices potentially reaching $10,000 per kilometre. Recognising the importance of including everyone in the conversation, there’s a strong push for community involvement.

Last month  discussions at the All Energy conference in Victoria emphasised how crucial it is for local communities to be part of creating new Renewable Energy Zones and updating power transmission systems. The benefits? These projects can bring significant improvements to local areas.

The Australian Energy Market Commission (AEMC) is now making sure that for any new energy project to be approved, it must be communicated clearly to all involved, from government councils to the people who own the land. This means everyone should understand what’s proposed and know their rights in the process.

Here’s what’s new:

  • Information must be easy to understand and readily available.
  • Communication and engagement must be tailored to meet different needs.
  • Everyone should know how they can contribute and that their views will matter.
  • People should have the chance to be involved in energy plans from the start.

At a recent energy conference, Chris Bowen, speaking optimistically, mentioned that a well-designed renewable power system is not only reliable but also essential, especially during tough times. He noted that failing to update our infrastructure could be why Australia might not meet its energy goals. By 2030, Australia aims to get 82% of its energy from renewable sources and cut greenhouse gas emissions by 45% compared to 2005 levels.

However, there are concerns that the government’s current focus on power transmission issues might distract from a broader strategy for renewable energy, which has been somewhat lacking over the past decade. This could be why the Minister for Climate Change and Energy is avoiding tough questions at the upcoming COP28 climate conference in Dubai.

The Australian government’s decision to send Jenny McAllister, the Assistant Minister, instead of the Minister to COP28 has been noticed by many, especially by the Pacific island countries. With those nations key to Australia being announced as the COP31, are watching Australia closely. They want to make sure Australia keeps its promises to address climate change. This interest is shared by other countries, like Turkey, who are also keen on hosting the conference and holding Australia to its climate commitments.

This is a summary article from Edge2020 – read the original article.

Looking to reduce your business’s energy expenses without any extra cost? Edge Utilities makes it possible through collective purchasing, which enables you to unlock substantial savings. Our focus is on empowering SMEs like yours by fetching the most competitive rates available. You can get in touch with us by emailing us at save@edgeutilities.com.au or calling us at 1800 334 336. Start saving today with Edge Utilities!

Australia’s Future Energy Direction

Engineer inspecting solar panels with a laptop at a solar power plant.

New details have emerged from the Department of Climate Change, Energy, the Environment, and Water. They hint at what Australia’s energy might look like after 2030. A new plan called the Renewable Energy Guarantee of Origin (REGO) was discussed in the ‘Australian Hydrogen News’ section. This plan wants to keep track of where our green electricity comes from.

Back in December 2022, some ideas were introduced. The latest update gives us more details. It says the REGO plan could start by January 2025. This plan isn’t just about dates. It’s a sign that we’re entering a new age of green energy. REGO plans to introduce new energy certificates. These will replace the old LGC and STC rules. The impact of REGO will likely be felt for many years, even after 2030. It could change the way we think about Renewable Energy Targets (RET) after 2030.

What does this mean for our current energy targets? Changes will happen slowly. Our current energy goals will stay the same up to 2030. But the new REGO plan will start alongside them. Both plans will run together until 2050. This is good news for people looking to invest in energy.

One great thing about REGO is that it includes everyone. All ways of making electricity can get a REGO approval, even those not up to the mark now. But some projects, like GreenPower, might not use this new certificate even if many others do.

REGO also talks about smaller energy projects. We might see more Virtual Power Plants (VPPs) and coordinated energy resources in the future. If they join REGO after 2030, it could change the energy market.

The REGO plan also mentions getting energy from outside Australia. Projects like Sun Cable show this might be possible. But, storing this energy is just as important as making it. The department realises this. They suggest giving certificates based on how much energy we store and use.

The main message? Big changes are coming. Some of it we’ve heard in December. New laws might come in 2024, and everything could start by January 2025. This isn’t just about hydrogen. It’s about the whole energy sector. If you’re in business, you’ll want to keep an eye on this.

This is a summary article from Edge2020 – read the original article.

Looking to reduce your business’s energy expenses without any extra cost? Edge Utilities makes it possible through collective purchasing, which enables you to unlock substantial savings. Our focus is on empowering SMEs like yours by fetching the most competitive rates available. You can get in touch with us by emailing us at save@edgeutilities.com.au or calling us at 1800 334 336. Start saving today with Edge Utilities!

AER’s 2023 Energy Market Report: A Year of Positive Shifts but with Persisting Challenges

Hand holding a green pinwheel aloft against a clear blue sky

The Australian Energy Regulator (AER) has released its annual report on the ‘State of the Energy Market’ for 2023. The report highlights the changing dynamics in Australia’s electricity and gas markets.

The energy system has shown remarkable resilience and adaptability in 2023, facing fewer challenges than the previous year. The report notes a significant drop in wholesale electricity market prices from their 2022 peak. This decline is due to proactive government interventions in the coal and gas sectors. However, prices are still relatively high compared to historical data.

The fluctuations in wholesale prices have had a ripple effect on the retail sector. Electricity bills have increased between 9% and 20% across all NEM jurisdictions in the 2022-23 period. This surge has added to the financial burden on households already facing broader economic challenges.

Renewable energy is a key focus of the report. With the global emphasis on sustainable energy sources, investments in renewables are crucial for phasing out coal generation. This transition is further exemplified by the smooth retirement of Liddell in April 2023, made possible by the upswing in renewable generation and positive market circumstances.

However, transitioning to a new energy infrastructure is not without challenges. The report highlights significant obstacles, including the magnitude of required investments, rising costs, and the importance of community participation in planning and execution.

The Australian Government is not addressing these challenges alone. Collaborative initiatives between the federal government and state and territory counterparts have emerged, highlighting unified efforts to steer the energy market in a sustainable direction.

The report also underscores the interconnectedness of the electricity and gas markets. As regions shift from gas to electricity, such as replacing gas heating with electric solutions, the gas market is expected to experience less pressure. However, this shift also signals an increase in electricity demand, driven by trends such as the adoption of electric vehicles.

The framework for energy planning is also undergoing a transformation, with emissions reduction now a priority alongside price, reliability, and supply security.

Finally, the report raises concerns about market competition. Issues such as the declining liquidity of certain hedging products and potential monopolistic tendencies in flexible generation capacity, particularly in regions like NSW and Victoria, require monitoring. The AER’s expected new monitoring powers will strengthen its capacity to ensure a competitive and transparent market landscape.

In summary, 2023 portrays an energy market in a state of flux: adapting, growing, but also facing its share of challenges. Through collaborative efforts, strategic investments, and vigilant regulation, the aim remains clear: a sustainable and stable energy future for Australia.

This is a summary article from Edge2020 – read the original article.

Save Big on Energy with Edge Utilities! We’re your experts in tapping into the strength of bulk purchasing, aiming to significantly cut down your energy costs without any added expense to your business. Committed to assisting SMEs, we’re here to source the best rates for you. Reach out to us at save@edgeutilities.com.au or give us a ring at 1800 334 336. Let’s start your journey to effortless savings!

Powering the Future: Queensland’s Renewable Challenge

People in a community with wind turbines, symbolizing sustainable and renewable energy sources.

In September 2022, Queensland unveiled its SuperGrid Blueprint, hoping to drastically increase its use of renewable energy. They’re aiming high – wanting 70% of their energy from renewable sources by 2032 and 80% by 2035. This is a big deal for a place that once relied heavily on coal.

Central to this plan are six special areas called Renewable Energy Zones, which will use the sun and wind to generate power. But, like all big plans, there are challenges. Many are wondering if the sun and wind can provide enough constant power, especially during high-demand times.

There are also concerns about terms like “low to zero emission gas-fired generation.” What exactly does “low to zero” mean? Vague phrases like these make some people doubt the plan’s true commitment to clean energy.

While Queensland’s connection with neighboring New South Wales provides a backup plan, it raises questions. Does Queensland truly believe it can stand on its own two feet in this energy transition?

Even with these uncertainties, the SuperGrid Blueprint holds promise. It could pave the way for new innovations and show other regions how to shift towards cleaner energy. However, turning these plans into reality won’t be easy.

In the end, only time will tell if Queensland’s energy vision will light up the future or if it’s just chasing the wind.

This is a summary article from Edge2020 – read the original article.

Save Big on Energy with Edge Utilities! We’re your experts in tapping into the strength of bulk purchasing, aiming to significantly cut down your energy costs without any added expense to your business. Committed to assisting SMEs, we’re here to source the best rates for you. Reach out to us at save@edgeutilities.com.au or give us a ring at 1800 334 336. Let’s start your journey to effortless savings!

Understanding Safeguard Reforms: Australia’s Bold Move Towards Greener Industries

safeguard reforms

In an effort to combat climate change, Australia has initiated a series of environmental regulations known as the Safeguard Reforms. These reforms began in July 2023 and are currently undergoing ongoing updates. In a nutshell, the goal is to align Australia’s industries with international standards for environmental practices, especially those concerning greenhouse gas emissions.

So, how are we going about this? Well, the government department overseeing these changes is closely studying what’s been successful in other countries. They’re identifying top-performing industries around the globe that are producing less waste and pollution. Then, they’ll use these examples to set ‘benchmarks’—or standards—for Australian industries.

Now, here’s where it gets interesting. Suppose a country like Japan invents a new, super-efficient technology that significantly reduces emissions. If it’s among the best in the world, it will set the standard for Australian industries, even if it was tailored specifically for Japan’s unique economic needs. So, Aussie companies will need to keep pace, adopting any new technology and training staff to use it.

There’s still much to be decided in this ongoing process. For example, annual benchmarks will initially drop by 4.9% each year until 2030. After that, it’s suggested that changes will occur in 5-year increments. This will be confirmed in consultations planned for 2027.

By the end of this year, we can expect to see the finalisation of these benchmarks. They’ll be incorporated into law and take effect in the financial year of 2024.

One area under specific review is the coal industry. A new rule is being introduced that covers all emissions related to coal mining, including waste gas. The goal is to have a single standard, or ‘production variable’, that covers all activities in the industry. This could potentially revolutionise how we manage waste and emissions from mining, and it will certainly keep coal companies on their toes!

However, these new regulations are still open for debate. Public consultations are currently ongoing, giving citizens and industries a chance to voice their opinions and concerns. If you want to have your say on these changes, make sure to submit your thoughts before the deadline on August 11.

Australia is taking a significant step towards greener industries. By adopting these internationally informed practices, we’re pushing for a cleaner, more sustainable future.

The team at Edge Utilities are passionate about renewables and sustainability, we are energy brokers with an eye on the planet. We are committed to helping businesses reach their net zero goals through renewable power contracts.
To discuss options and plans for your business contact us at save@edgeutilities.com.au  or call us on 1800 334 336 to discuss. 

Renewable Revolution or Risky Gamble? Australia’s Bold Energy Transition Plan

Edge Utilities_Energy Transition Plan

The Australian Federal Government, led by Chris Bowen, has announced a bold move to support renewable energy, the energy transition plan will add an extra 550 megawatts (MW) of firming generation in New South Wales (NSW). This strategy aims to ensure grid reliability and security and attract nearly AUD 10 billion in investment, thereby contributing to an estimated 6 gigawatts (GW) of additional power. The energy transition plan is designed to offset the projected power shortages following the anticipated shutdown of various fossil fuel generators across the National Electricity Market (NEM).

Despite the optimism, there are challenges. It remains uncertain whether the proposed measures, largely based on large-scale battery and pumped hydro storage, can compensate for the power shortage following the phasing out of fossil fuel generators. Further concerns have been raised following the delays to the Snowy 2.0 project, with doubts about the NEM’s ability to maintain a stable electricity supply and prevent a spike in power prices. The reliability of renewable energy during periods of calm weather and low sunshine is also under scrutiny.

These uncertainties lead to an important question: will this ambitious plan become a successful blueprint for the future, or a cautionary tale of overambitious planning and under-delivery? The outcomes will have significant implications for the future of renewable energy, not just in Australia, but globally. As Australia embarks on this renewable energy journey, the world watches closely.

This is a summary article from Edge2020 – read the original article.

The team Edge Utilities are passionate about renewables and sustainability, we are energy brokers with an eye on the planet. We are committed to helping councils and business communities reach their net zero goals through renewable power purchasing agreements (PPAs) and smart portfolio management.
To discuss options and plans for your community contact us at save@edgeutilities.com.au  or call us on 1800 334 336 to discuss. 

Is It Time for Australia to Bring Renewable Energy Manufacturing Home?

Edge Utilities_Renewable Energy_Wind Turbines

Australia’s renewable energy sector is facing a litany of challenges, with a number of recent wind project delays marking just the tip of the iceberg. The halt in investment for the Karara Wind Farm, due to delays in turbine parts and escalating costs, highlights a broader problem. Queensland’s ambitions of generating 50 per cent of new renewable energy within the state now hang in the balance, a setback that underlines the pressing need for an overhaul in our approach to green energy.

As the Conference of Parties (COP 28) approaches in November, and with Australia seemingly off-course to meet its 2030 climate targets, international pressure is increasing. Engie Australia’s CEO, Rik De Buyserie, suggests that to even approach the 2030 climate targets, Australia would need 10,000km of new transmission, 44GW of new renewables, and 15GW of firming capacity.

Key figures in the industry, such as Markus Brokhof, COO of AGL, and De Buyserie have been vocal about the urgency of the situation. They argue that the current investment in renewable electricity is woefully inadequate to compensate for the looming closure of coal generation. Brokhof posits that it might be time for Australia to not just invest more, but to also bring the manufacturing of renewable energy components home.

The notion of upskilling our workforce and developing our own green manufacturing industry is a compelling one. With the logistical challenges of imports, scarcity of components, and rising costs, it may be the most feasible path towards our 2030 climate targets. Thus, echoing the sentiment of the famous 1996 football anthem, it might indeed be time to bring renewable energy ‘home’, transitioning Australia towards a self-reliant, green energy future.

This is a summary article from Edge2020 – read the original article.

The team Edge Utilities are passionate about renewables and sustainability, we are energy brokers with an eye on the planet. We are committed to helping councils and business communities reach their net zero goals through renewable power purchasing agreements (PPAs) and smart portfolio management.
To discuss options and plans for your community contact us at save@edgeutilities.com.au  or call us on 1800 334 336 to discuss. 

Is your business ready to be part of the Brisbane Olympics 2032?

Brisbane Olympics 2032 Precinct

Brisbane 2032 International Olympic Committee (IOC) have called for businesses to be “Brisbane Olympics 2032 Ready” but what does this mean for your Business Energy?

As we countdown to the Brisbane 2032 Olympics, action towards creating Australia’s first net zero carbon region has commenced with the launch of the Brisbane 2033: Legacy Project. This project outlines a policy and framework of SMART goals across the key themes of Connected, Creative, Equitable and Enterprising with the goal to achieve a Climate Positive Games and positive legacy for the region.

“In 2032, the eyes of millions of people will be in our homes, what do we want them to see?” John Coates AC, President of Australian Olympic Committee.

The Queensland Government has indicated that all business intending to be a part of the Brisbane Olympics 2032 will be required to meet the net zero carbon goals and the Games’ procurement rules on zero emissions and zero waste.

So how can you become Brisbane 2032 Olympics Ready and be a part of Australia’s first net zero carbon region?

Our team of energy experts at Edge Utilities have outlined three key ways below.

3 ways to show your business’s commitment to a Climate Positive Games with Edge Utilities.

 

  1. Reduce your carbon emissions.

Taking action to reduce carbon emissions is a crucial step in preparing for the Brisbane 2032 Olympics. There are various effective approaches to achieve this goal. These include conducting equipment assessments, upgrading to energy-saving infrastructure, implementing solar panels, integrating smart technology, and adopting energy-efficient lighting solutions.

By implementing these strategies, businesses can make significant strides towards Brisbane 2032 Olympics readiness while actively contributing to a sustainable future.

  1. Purchase green energy.

Simply purchasing green energy is another great way to show your Climate Positive commitment to the Brisbane 2032 Olympics. Edge Utilities can work with you to secure cost effective energy procurement from renewable resources, such as solar, wind and hydro. We do the administrative work for you, ensuring reliable secure energy for your business whilst, managing cost and reducing your emissions through green purchasing.

As part of our comprehensive services, we can guide your business in exploring energy procurement and generation options, including energy carbon offsets, enabling you to make informed decisions towards sustainable and low-carbon operations. We are deeply committed with renewable energy, which play a critical role in preparing for a Climate Positive Olympics.

One of our key offerings is the facilitation of Power Purchase Agreements PPAs powered by Edge2020. Power Purchase Agreements allow businesses to procure energy from renewable sources such as solar, wind, and hydropower at fixed, predictable costs. This approach is particularly advantageous for small to medium-sized businesses, providing a cost-effective path to lower carbon emissions and fostering growth within the renewable energy sector.

Learn more about Power Purchase Agreements.

  1. Join a renewable energy portfolio.

A renewable energy portfolio can open a wealth of opportunities for your business and goes beyond simply securing renewable power. By joining a power portfolio, you will benefit from the power of bulk purchasing, yielding cost advantages not usually accessible to individual businesses and mitigating price fluctuations. Edge Utilities offers individual businesses the opportunity to apply for a renewable energy portfolio through our Edge Utilities Power Portfolio (EUPP).

When businesses join the Edge Utilities Power Portfolio, they gain access to the kind of purchasing power that is typically only available to larger portfolios. This opens the door to custom-made electricity contracts, providing an essential tool for businesses aiming to achieve net zero emissions. Edge Utilities Power Portfolio serves to remove obstacles for Australian businesses, making the goal of 100% renewable electricity within their contracts a more achievable reality. This not only supports environmental initiatives but also echoes the sustainable business strategies akin to the values championed by global events like the Brisbane 2032 Olympics.

Discover more about the Edge Utilities Power Portfolio.

Edge Utilities has a climate active registered consultant, and it’s powered by Edge2020. Gain access to tailored energy solutions, green energy experts, risk management and emission reduction strategies designed to secure your energy procurement, mitigate fluctuating energy prices, and go for green and gold!

 

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South West Renewable Energy Zone: A Step Towards a Greener Future in New South Wales

Street lights on road at night

The NSW government recently released their draft declaration for the South West Renewable Energy Zone (SW REZ) access scheme to the public as part of the NSW government’s Electricity Infrastructure Roadmap.

The government is paying particular attention to the number of projects that will be granted transmission in the zone looking to generate investment.

REZs are designed to coordinate the connection of new renewable energy projects to the electricity grid within a specific area. The NSW government hopes these zones will attract investment for renewable energy projects, thereby reducing greenhouse gas emissions and providing clean, sustainable energy.

The South West REZ is anticipated to have a transfer capacity of 2.5 gigawatts (GW) and will connect to the existing electricity network via the Dinawan Substation. Due to its location, this zone will primarily focus on solar and wind energy projects, as offshore wind and extensive hydrogen investment opportunities are not as viable.

Several upgrades to the electricity network are planned to support these new projects, including the Project Energy Connect (PEC) interconnector, the HumeLink, and the proposed Victoria-NSW interconnector (VNI West). These enhancements aim to entice investors to fund renewable energy projects in the South West REZ.

To participate in this REZ, companies must meet specific requirements and adhere to the government’s guidelines. They need to demonstrate project feasibility, compliance with certain standards, and the ability to manage potential disruptions to the electricity system. Upon meeting these criteria, they will be granted access to the REZ and the benefits it offers, such as a stable and well-funded electricity network.

Public consultation for the South West Renewable Energy Zone (SW REZ) access scheme will conclude on May 15th, marking another step towards a greener future in New South Wales.

This is a summary article from Edge2020 – read the original article.

The team Edge Utilities are passionate about renewables and sustainability, we are energy brokers with an eye on the planet. We are committed to helping councils and business communities reach their net zero goals through renewable power purchasing agreements (PPAs) and smart portfolio management.
To discuss options and plans for your community contact us at save@edgeutilities.com.au  or call us on 1800 334 336 to discuss.