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Australians to get three hours of free electricity every day under solar scheme - ABC News [abc.net.au]:

Australians to get three hours of free electricity every day under solar scheme In short:

Energy retailers will be made to offer free power in the middle of the day, as the government seeks to spread the benefits of solar power.

Wholesale electricity prices in the daytime are often very cheap or even negative due to solar generation producing more supply than there is demand.

What's next?

The Solar Sharer scheme will begin from the middle of next year, with aims to extend it by the end of next year.

Australian households will be able to access free electricity for three hours every day, in an effort to encourage energy use when excess solar power is being fed into the grid.

The federal government scheme will require retailers to offer free electricity to households for at least three hours in the middle of the day, when there is often more electricity generated than is being used, leading to very cheap or even negative wholesale prices.

The Solar Sharer scheme will initially be introduced to consumers in default market offer regions like NSW, south-east Queensland and South Australia from July next year, with consultation to extend the scheme to other jurisdictions by 2027.

Households with smart meters will be able to run washers and dryers, air conditioning or any other appliances for free within the three-hour window.

Climate Change Minister Chris Bowen said the scheme would share around the benefits of solar panels, including to those without panels or who rented their homes.

"There is so much power in the middle of the day now that often the prices are very cheap or negative and this should be something, by our analysis, that energy companies can incorporate and offer," Mr Bowen told the ABC.

"It's not a silver bullet, and it is part of a suite of measures, but it's a good one. No one would claim that one particular policy solves all the challenges in the energy market."

Mr Bowen added that modern technology had made it easier for people to schedule appliances to start in the middle of the day, when electricity would be free.

"We want to see the benefits of renewable energy flow to all, even those without solar panels or batteries," he said.

But retailers have reacted with surprise to the announcement, saying it had not been raised in consultations on reforms to the network.

"This lack of consultation risks damaging industry confidence, as well as creating the potential for unintended consequences," the Australian Energy Council's chief executive Louisa Kinnear said in a statement.

"We have just spent the past five months engaging constructively with the government on the DMO review, with the industry broadly comfortable with the anticipated review outcomes, but the lack of consultation on today's announcement means the AEC can no longer offer its unqualified support.

"In developing energy products such as those that offer free energy for a period of time, retailers, and in particular, smaller retailers, need to carefully consider their exposure to the market, their hedging strategy, the impact of network costs, and a range of other factors."

Mr Bowen said he made "no apologies" if the Solar Sharer scheme ate into retailer margins.

"I work well with energy companies but they are not first — consumers are put first," he said.

Government claims price benefits will flow beyond free power hours

The government said the shift in demand was expected to lower costs for everyone by reducing peak demand in the evening, which would also minimise the need for "costly" network upgrades to ensure grid stability.

The federal government has been under pressure to address power price concerns, as state and federal rebates come off, and with a recent uptick in inflation as a consequence.

In May, the Australian Energy Regulator confirmed households on the Default Market Offer (DMO), the maximum price retailers can charge on standing offer contracts, would rise from 0.5 per cent to 9.7 per cent across the country, depending on location.

The Solar Sharer scheme has been announced as part of a review of how power prices are set [abc.net.au] through the DMO.

The announcement also comes amid turmoil within the Coalition, as it debates whether to keep or dump a commitment to net zero emissions over power price concerns.

Nationals senator Matt Canavan, who supports coal-fired power, said the policy came with a catch.

"We're not getting free power, we're getting more expensive power," he said.

"Because if they have to give you free power at some parts of the day, they're going to make you pay more at other parts of the day."

On Sunday, the Nationals ran ahead of the Liberals to announce that they would formally abandon the 2050 net zero target, citing power price rises of 39 per cent since net zero was committed, and arguing a "technology neutral" approach that included more coal and gas would bring down power prices.

As that announcement was being made, Mr Bowen's office noted that wholesale energy costs were negative in every state except Tasmania due to solar generation.

"Free daytime power for families across Australia is proof that what's good for the planet is good for your pocket," Mr Bowen said.

"Free daytime power for families across Australia is proof that what's good for the planet is good for your pocket," Mr Bowen said.

"Free daytime power for families across Australia is proof that what's good for the planet is good for your pocket," Mr Bowen said.

Australian households will be able to access free electricity for three hours every day, in an effort to encourage energy use when excess solar power is being fed into the grid.

The federal government scheme will require retailers to offer free electricity to households for at least three hours in the middle of the day, when there is often more electricity generated than is being used, leading to very cheap or even negative wholesale prices.

The Solar Sharer scheme will initially be introduced to consumers in default market offer regions like NSW, south-east Queensland and South Australia from July next year, with consultation to extend the scheme to other jurisdictions by 2027.

Households with smart meters will be able to run washers and dryers, air conditioning or any other appliances for free within the three-hour window.

Climate Change Minister Chris Bowen said the scheme would share around the benefits of solar panels, including to those without panels or who rented their homes.

"There is so much power in the middle of the day now that often the prices are very cheap or negative and this should be something, by our analysis, that energy companies can incorporate and offer," Mr Bowen told the ABC.

"It's not a silver bullet, and it is part of a suite of measures, but it's a good one. No one would claim that one particular policy solves all the challenges in the energy market."

Mr Bowen added that modern technology had made it easier for people to schedule appliances to start in the middle of the day, when electricity would be free.

"We want to see the benefits of renewable energy flow to all, even those without solar panels or batteries," he said.

But retailers have reacted with surprise to the announcement, saying it had not been raised in consultations on reforms to the network.

"This lack of consultation risks damaging industry confidence, as well as creating the potential for unintended consequences," the Australian Energy Council's chief executive Louisa Kinnear said in a statement.

"We have just spent the past five months engaging constructively with the government on the DMO review, with the industry broadly comfortable with the anticipated review outcomes, but the lack of consultation on today's announcement means the AEC can no longer offer its unqualified support.

"In developing energy products such as those that offer free energy for a period of time, retailers, and in particular, smaller retailers, need to carefully consider their exposure to the market, their hedging strategy, the impact of network costs, and a range of other factors."

Mr Bowen said he made "no apologies" if the Solar Sharer scheme ate into retailer margins.

"I work well with energy companies but they are not first — consumers are put first," he said.

Government claims price benefits will flow beyond free power hours

The government said the shift in demand was expected to lower costs for everyone by reducing peak demand in the evening, which would also minimise the need for "costly" network upgrades to ensure grid stability.

The federal government has been under pressure to address power price concerns, as state and federal rebates come off, and with a recent uptick in inflation as a consequence.

In May, the Australian Energy Regulator confirmed households on the Default Market Offer (DMO), the maximum price retailers can charge on standing offer contracts, would rise from 0.5 per cent to 9.7 per cent across the country, depending on location.

The Solar Sharer scheme has been announced as part of a review of how power prices are set [abc.net.au] through the DMO.

The announcement also comes amid turmoil within the Coalition, as it debates whether to keep or dump a commitment to net zero emissions over power price concerns.

Nationals senator Matt Canavan, who supports coal-fired power, said the policy came with a catch.

"We're not getting free power, we're getting more expensive power," he said.

"Because if they have to give you free power at some parts of the day, they're going to make you pay more at other parts of the day."

On Sunday, the Nationals ran ahead of the Liberals to announce that they would formally abandon the 2050 net zero target, citing power price rises of 39 per cent since net zero was committed, and arguing a "technology neutral" approach that included more coal and gas would bring down power prices.

As that announcement was being made, Mr Bowen's office noted that wholesale energy costs were negative in every state except Tasmania due to solar generation.

"Free daytime power for families across Australia is proof that what's good for the planet is good for your pocket," Mr Bowen said.

"Free daytime power for families across Australia is proof that what's good for the planet is good for your pocket," Mr Bowen said.

"Free daytime power for families across Australia is proof that what's good for the planet is good for your pocket," Mr Bowen said.

Akaysha Energy bags AU$460 million for 1,244MWh BESS in Victoria, Australia [energy-storage.news]:

The financing is underpinned by a 15-year virtual tolling agreement with Snowy Hydro, representing the state-owned generator’s first battery offtake agreement.

With a contracted capacity of 220MW, the arrangement constitutes the largest four-hour virtual toll agreement in the Australian market. Snowy Hydro has been active in securing battery storage capacity [energy-storage.news], with the company signing multiple offtake deals for over 2GWh of battery energy storage across Australia.

Located in southwest Victoria, the Elaine BESS will connect to the National Electricity Market (NEM) [energy-storage.news] through existing transmission infrastructure. The strategic positioning will enable the battery system to manage transmission outage risks and support the integration of renewable energy sources, particularly wind and solar generation, into the grid.

Andrew Wegman, chief financial and investment officer at Akaysha Energy, said the financing demonstrates institutional capital’s continued support for Australia’s energy transition.

“The strong support from lenders reflects the critical role that battery storage plays in the NEM, and Akaysha Energy’s ability to deliver complex projects at scale,” Wegman stated.

The Elaine project represents Akaysha Energy’s second major virtual tolling agreement, following a 12-year, 200MW offtake arrangement with EnergyAustralia for the 415MW Orana BESS [energy-storage.news].

That agreement was supported by AU$650 million in debt financing from 11 domestic and global banks, demonstrating the company’s track record in securing large-scale project financing.

Akaysha Energy has established itself as a leading developer and operator of utility-scale battery storage systems in Australia. The company recently achieved commercial operation of Stage 1 of the 850MW/1,680MWh Waratah Super Battery [energy-storage.news].

In an exclusive interview with ESN Premium earlier this year, Nick Carter, managing director and CEO of Akaysha Energy, discussed the development process of the utility-scale BESS [energy-storage.news].

The company’s expansion has been supported by significant corporate financing, including an AU$300 million corporate debt facility [energy-storage.news] secured earlier this year to accelerate development of its BESS project pipeline across Australia, the United States, Japan and Germany.

See also:

• Australia’s Solar Boom Is Breaking the Grid - Or Is It? [youtube.com]

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