A new interconnector should help the transfer of coal-fired power and renewable energy between NSW and South Australia, but it won’t fix fundamental flaws in the National Electricity Market.
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Spark Infrastructureâs Victorian power grid budget slashed
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Spark Infrastructureâs capital expenditure budget has been slashed by $596 million following the national energy regulatorâs crackdown on power grid spending in Victoria over the next five years.
Regulators are under pressure to rein in the cost of electricity transmission for consumers. Â
James Alcock
The Australian Energy Regulatorâs (AER) final decision on permitted spending for the next five years cuts back capex for Sparkâs partly owned Victorian companies, Citipower and Powercor, compared to the past five years.
But management and investors were optimistic about the outcome because the final spending allowances for capex, operating expenses and revenue were far more generous than the draft ruling released in December.
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23 February 2021
Poles and wires owner Spark Infrastructure has continued its foray into generation, purchasing development rights to a string of new renewable energy projects with a collective capacity of 1.5 gigawatts.
The announcement comes after the company opened its first 100 megawatt solar farm last year. Spark says it has earmarked $1.15 billion to invest in new solar, wind and battery projects, and is even having “a look at” green hydrogen.
Chief executive Rick Francis said the company had paid for the development rights, but had made no final commitment to go ahead with any of the new projects. He said the final decisions could be months away.