Tuesday , August 9 2022

Origin sees renewable energy doubles in three years, bigger multiple battery options


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Origin Energy expects renewable energy in Australia to double over the next three years, through a mixture of solar and roof surface plants, and looks at multiple options for large grids around the grid.

"We see the energy markets rapidly accelerate into an uncontrolled world," said CEO Frank Calabria when analysts were briefed on Wednesday after the company introduced an extensive first half tax tax return of $ 1.74 billion

The big change in the coming year will be the connection of a large number of large wind and solar farms, mainly to meet the federal renewable energy target but also in response to corporate demand for cheaper power.

Origin himself expects to introduce another 243MW of large-scale wind and sun in the current half, and in 2020 there is another 530MW of wind capacity on a large scale – Stockyard Hill wind farm in Victoria, which confirmed it was a "$ 50 low / MWh ".

This represents a discount to current wholesale prices of almost 50 per cent and suggests a subsidy subsidy for the new wind investment. In fact, it implies a negative subsidy, as some market analysts have recently identified.

Origin, like all other major retailers, also deals with a shift upstairs and will also embrace batteries and EVs quickly as the price of those investments expires , and incentives will be introduced.

Origin forecasts over the next three years suggest that the recent boom in the use of solar in the south will continue to accelerate.

Origin, which revealed a reduction of $ 28 million in its energy division profit as a result of lower demand – mainly through the number of take-up of bedrooms – argued for solar subsidies at the early end , but the politicians do not buy it, despite the efforts of the Murdoch media to grossly cost up.

Origin says it has installed 24MW of space in the house during the first six months of the year – mainly for residential customers – and is eager to help its users control the transfer to "devolved world to digitize ".

It is the way to do it and maintain a growth growth and all the utilities.

Apart from hitting $ 28 million from lower demand, Origin shows that the pressure to reduce retail prices, and increasing competition, costs $ 111 million in the first half. Recovering a lot of it by spending big customers with an additional $ 85 million as contracts are being renegotiated.

Overall, the Origin of the electricity market was down by 7 per cent, but it dramatically increased earnings from wholesale gas markets (the gas generation dropped as more renewable energy came to & # 39; r grid, so it's selling more to other gas customers) and from LNG operations.

That enabled the company to resume dividends for the first time in years, declaring a full 10p in the first half, and hoping to do the same in the second half.

Exciting, Origin – a 4MW / 4MWh battery building in its main Mt Stuart area in Queensland, the first on the Australian main grid to be prepared with fossil fuels – also highlights the possibilities of at least two large batteries others scattered around the grid.

He identified a potential battery near the Mortlake gas generator in Victoria, and next to the fired fuel generator in NSW – his only large generation unit and a coal asset.

Origin is also looking at expanding the capacity and storage of pumping water in its Shoalhaven operations in NSW. Greg Jarvis's main energy markets talked about this option in the Energy Insiders podcast recently.

It is also committed to installing more than 100MW of "start-up" gas producers to deal with the increase in renewable energy and the change to 5-minute settlement periods, and can commit to more.

Calabria said markets are still volatile, a clear indication of the transmission that is happening and the lack of any clear federal policy on either energy or climate change.

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