Impact of technology on energy markets
Changes in technology, and the pace of those changes, are fundamentally altering Australia’s energy markets. Energy policy and the associated regulatory framework must be able to adapt to these changes to allow a dynamic market response.
Technology work program
The AEMC is undertaking a technology-focused work program to identify:
barriers to deployment of new technologies by new or existing market players
whether the consumer protection framework remains fit for purpose
incentives or disincentives for business model evolution and whether changes to distribution system operation and market design are needed
Projects in the AEMC's technology work program include:
The AEMC is also participating in reference groups for pilot renewable energy projects:
Decentralised energy exchange (deX) project, funded by the Australian Renewable Energy Agency (ARENA) and led by GreenSync. The deX provides a marketplace for households and businesses with rooftop solar and batteries to trade with each other and also with network operators. This will allow households and businesses generating renewable energy to access incentives and reduce their demand on the grid during peak events.
Virtual power plant project in South Australia, which is being built by AGL in partnership with ARENA and US-based energy storage company, Sunverge. The project is aiming to build the world’s largest virtual power plant of its kind, made up of 1,000 connected batteries installed in homes and businesses and providing 5 MW of peaking capacity. Customers participating in the project are able to purchase a heavily discounted energy storage system. When working together at scale, the batteries could help stabilise the grid by discharging during peak times.