Aug-22 Energy Market News

Aug-22 Energy Market News

Once upon a time Australia was an energy island, this is no longer the case.

Global energy markets are impacting Australia profoundly leading to gas market news and global energy news dominating this month's articles. The volatile market is also having an impact on financial performance while policy areas also feature this month.

The sections of the report are listed on the left of the page to assist with navigation and include:

  1. Power Purchase Agreements
  2. Renewables
  3. Hydrogen
  4. Storage
  5. Generation
  6. Interconnectors
  7. Gas market
  8. Financial
  9. Policy & Regulation
  10. Climate / Global

Power Purchase Agreements

  1. Neoen signs PPA with Flow Power (4 Aug) Neoen signed a 10-year 40MW wind farm PPA with Flow Power from the Goyder South Stage 1 wind farm in SA. The PPA is expected to produce 160GWh of energy.
  2. CleanCo signs-up Scentre Group (4 Aug) From 2025, the Scentre Group Westfield Living Centres will receive 100% renewable beginning 2025 from CleanCo.
  3. NSW local Councils sign PPA (8 Aug) The Central NSW Joint Organisation announced a renewable energy deal with Iberdrola Australia to supply electricity to its member councils. The 8-year contract will have councils in the Central NSW region source 78% renewable energy for councils’ large sites and streetlighting from the Bodangora Wind Farm near Wellington NSW.
  4. Apple signs PPA (16 Aug) Apple signed a PPA with Windlab's 600MW Upper Burdekin Wind farm located in Queensland.
  5. University of Sydney signs PPA (16 Aug) Snowy Hydro through their retailer Red Energy has signed a 5-year 100% renewable "TrueGreen" renewable product that offers 100% renewable energy, matched with 100% Large Generation Certificates (LGCs)
  6. "Not every PPA is a good PPA" (19 Aug) Speaking at Procurement Australia's annual conference "Procuring a better world", Carl Daley presented on the energy market and made the point that not PPA is a good PPA. "You don't hear about the deals not done, and if you look into balance sheets of market players, you will see in some cases, write-downs". Link to presentation is here.  
  7. Companies brace for surging electricity prices (31 Aug) Soaring energy costs and increased costs of living blunting discretionary spending remain a major worry for Australian business, top executives say, as more and more corporates lock in low-cost renewable long-term contracts to help ease the power squeeze.
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