The Queensland Renewable Energy Council (QREC) is calling on the Queensland Competition Authority (QCA) to recognise the important role of renewable energy and battery projects in lowering power prices for regional households and small businesses from 1 July.
QREC Chief Executive Officer Katie-Anne Mulder said the QCA’s final determination was due this week, but already its draft findings showed regional Queenslanders could pay less for their electricity if the generation and storage projects assumed in the modelling are delivered on schedule.
“The Australian Energy Regulator (AER) found renewables and battery storage underpinned 10 per cent of the default market offer for electricity consumers in south-east Queensland last week. QREC is confident QCA will do the same this week,” Ms Mulder said.
“AER default market offer and QCA’s draft determination show that lower wholesale energy prices and cost-of-living relief depend on the successful delivery of Queensland’s renewable energy and battery storage pipeline.
QREC’s submission to the QCA highlighted that the draft determination’s forecast price reductions are materially driven by lower wholesale energy costs and are contingent on the near-term generation and storage projects assumed in energy cost modelling for the QCA.
“Queensland has a strong pipeline of renewable energy and storage projects, including wind, solar and battery projects that can put downward pressure on wholesale costs and support a more stable electricity system.
“But the price benefits identified by the QCA will only be secured if governments, regulators, network businesses, local councils, landholders, stakeholders and project proponents continue to work together.
“That means efficient planning assessments at State and Federal levels, clear community benefit agreement frameworks, network connections and clear investment signals through the Queensland Government’s Energy Roadmap and Investor Gateway.”