Monitoring Desk
ISLAMABAD: With its coal-powered plants being phased out, Australia is facing electricity supply shortages, the country’s market regulator has stated.
In its updated Electricity Statement of Opportunities report, the Australian Energy Market Operator (AEMO) stated on Tuesday that there is a need to invest in energy storage for long durations along with energy generation and transmission in order to guarantee supply later in the current decade.
Investment in renewable projects needed
The report said the National Electricity Market (NEM), Australia’s main electricity grid, is likely to avoid shortages in 2024, however, risks of such instances would increase in later years as coal plants are closed down faster than renewable projects begin generating energy.
Previously, supply gaps had been predicted for 2023-24 which have been forestalled by new wind, battery, and gas projects, but AEMO predicts they could re-emerge from 2025 onwards as coal-fired power stations stop supplying electricity.
