May-22 Energy Market News

May-22 Energy Market News

Market news this month have been dominated by the Federal Election, AGL demerger and soaring market prices.

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

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


  1. Maoneng unveils $ solar-battery hub (2 May) Renewables and battery developer Maoneng has revealed plans to build a 550-megawatt solar farm and a battery with a power output of up to 400MW and four hours of storage.
  2. World speed record set for solar build (4 May) Australia solar technology innovator 5B has claimed a global “speed record” at the Los Andes solar project in the Atacama desert in Chile, by deploying pre-fabricating and wired solar arrays.
  3. How renewable market got LGC price completely wrong (4 May) The Clean Energy Regulator’s Mark Williamson stated the market didn’t anticipate the big demand for LGCs from governments and corporate buyers who have chosen to surrender LGCs rather than trade them. It is expected 8m voluntary LGCs could be surrendered in 2022.
  4. Construction starts on Australia's first gigawatt scale wind projects (11 May) The 1.026GW MacIntyre farm in south west Queensland has started construction costing an estimated $2 billion. The site includes the 923MW MacIntyre facility that is majority owned by Acciona, and the 103MW Karara wind farm which will be owned and operated by CleanCo.
  5. Origin Energy uses AI for solar PV sales (16 May) Origin Energy has developed a solar assessment tool that uses machine learning to calculate the most suitable solar solution for a specific home based on roof satellite images and energy consumption patterns without a home visit.
  6. Researches show solar generation can occur at night (17 May) As a world first, a team of researchers from the University of New South Wales (UNSW) have demonstrated that solar power can be generated at night. After the sun sets and the day darkens, Professor Ekins-Daukes says the Earth radiates the exact same amount of energy back during the night as received during the day and this radiant heat could be tapped by a power cell device and converted into electricity.
  7. Offshore wind auctions to favour projects with lowest carbon footprint as costs plunge (26 May) Germany will rank off-shore wind projects based on lowest CO2 footprint, as well as expected power production and its potential contribution to system stability.
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