Renewable energy: Origin, Energy Australia want new projects fast-tracked as coal is phased out
Australian power giants are calling for market reforms to focus on spurring new projects that can back up renewables.
Ahead of further negotiations between state and federal ministers on ways to avoid future energy shocks, a key proposal is for a “capacity mechanism” that would reward companies for guaranteeing power that can be called upon when the wind isn’t blowing and the sun isn’t shining, rather than only paying them for the power they produce.
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