Energy rule maker's days numbered as it wallops energy storage: Bandt

Energy rule maker's days numbered as it wallops energy storage: Bandt

The Australian Energy Market Commission has released its draft determination on a rule change request to reduce the time interval for settlement in the wholesale electricity market from 30 minutes to five minutes.

The requested rule change would reduce the gaming of the system by fossil fuel generators and enable energy storage and demand management to compete with fossil fuel generators on a more level playing field.

However, the AEMC has pushed implementation of the change out to 2021.

Quotes attributable to Greens energy spokesperson, Adam Bandt:

“This extended timeframe is another appalling decision by the AEMC, which just seem to be doing the big power companies' bidding.

“The government talks a big game on energy storage, but the rule maker has just walloped the energy storage industry at the very time it is starting to take off.

“The AEMC has a long history of holding back the clean energy revolution. It is long overdue that it was shaken up or abolished.

“The Greens want to put in place a new energy authority, Renew Australia, that can plan and drive the energy transition and act in the interests of the public, not established vested interests.

“We need the ‘5 minute rule’ urgently, not in 2021.”

Media contact: Gideon Reisner, 0429 109 054

TW: @AdamBandt FB: facebook.com/Adam.Bandt.MP

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