The peak body for generators and retailers, the Australian Energy Council, said the market operator's Integrated System Plan (ISP) highlights the profound disruption occurring in the grid.
The AEC says the ISP outlines the measures needed to transition the National Electricity Market to lower emissions while keeping costs down for consumers and ensuring reliability. It is important not just in identifying the key shifts in the energy market but also in providing a national perspective to system planning.
The AEC's Chief Executive Sarah McNamara said "The rapid decline of coal in our market is front and centre in the ISP along with the need to ensure there is sufficient dispatchable and sustainable resources in place that can operate for extended periods as coal retirements occur.
"It's critical we get the transition right to avoid unnecessary disruption and costs for end users.
"Transmission has an important role to play, but we need to plan the necessary new transmission carefully. AEMO's use of an 'optimal development plan' for major transmission developments is prudent in this regard.
"It will remain critical that each development be subject to detailed cost-benefit analysis before committing customer funds.
"To provide investment confidence consistency of approach is essential and we encourage all jurisdictions to get behind AEMO's guidance to deliver for consumers rather than developing their own unique planning approaches," said Ms McNamara.
About the Australian Energy Council
The Australian Energy Council is the peak industry body for electricity and downstream natural gas businesses operating in the competitive wholesale and retail energy markets. AEC members generate and sell energy to 10 million homes and businesses and are major investors in renewable energy generation. The AEC supports reaching net-zero by 2050 as well as a 55 per cent emissions reduction target by 2035 and is committed to delivering the energy transition for the benefit of consumers.
