Cornwall Insight Australia has released our latest NEM Benchmark power curve (NEM BPC) for Q4 2023 to our subscribers. Our latest edition includes Marinus Link, ESSO constraints and other updates. We have released a free excerpt, which you can access below.
The Federal Government has announced a partnership with the Marinus Link project, progressing the now one-cable project toward a late 2028 completion date. This deal also delays the decision around the second cable until the end of 2024. The impact of not completing the second cable can be seen from Cornwall Insight Australia’s NEM Benchmark Power Curve modelling on both Tasmania and the Southern Mainland, with implications for the TRET, Battery of the Nation, Gippsland Offshore wind, and anyone looking to invest or develop renewables or battery assets in the area.
Furthermore, synchronous generation is expected to leave the market through retirements and economic pressure from low-cost renewable energy. As a result, low system strength and inertia are increasingly playing a part in amplifying network challenges. With this release of our NEM BPC, we apply the updated constraint set from AEMO’s ESOO 2023 that directly captures system realities, cyclically curtailing the output of variable renewable energy to maintain technical properties.
The NEM BPC is based on comprehensive market and asset-level electricity modelling that delivers long-term power price forecasts, informed by industry-leading regulatory, market and policy expertise and supplemented with direct access to trusted practitioners.
We hope this excerpt is of value-add to you and your business. Please don’t hesitate to contact us if you have any questions or want further information on subscribing to the BPC insight service.
