Challenges And Solutions In The Australian Energy Market

Background

Discuss about the Energy Crises In Australia.

The world’s second-biggest exporter of natural gas suffering from severe crises that they even can’t supply gas to facilitate their own citizens. The world’s richest economies of natural gas are Australia and USA. The way of managing the resources is the main difference in these nations. In Australia energy is getting very expensive.  The National power system is in a critical stage that is why the whole nation is suffering from high rates of electricity and gas. This is a consequence of federal government’s and state government’s uncertain and spit policies. There was no obvious and constant path to decrease the emission. This uncertain policy had badly impacted the energy system of Australia and caused considerable instability.  The main points are the stability of the National electricity grid, increase the cost to supply the gas and new generation’s investment.

Currently, there are many rising challenges in Australian energy market that have a high impact on the cost and dependability of the supply of energy. To address all these issues is difficult; it needs combine act by the Australian government, regulatory authorities, and state to offer the most suitable incentive in energy markets. The difficult interaction of government and private businesses affect the energy supply to residential areas and businesses within the country. The markets that are affected by these interactions are under the approach of national co-operative between the governments and engage regulators of state, local and district. The factors like condition of atmosphere and market, the supply of energy in each state and international market’s exposure are affected the Australian energy markets( Alan 2017).

In 2017, many problems have been addressed which were caused by the outdated policies of energy. The gas industry is running with the help of Australian industry. The policy of climate is urgent but suffering from controversies between the key policymakers. The export of fossil fuel is at risk from the international pressure (Dears 2017). The goal and objectives are obvious: supply economical, reliable and provide energy services with low carbon to the business area and households. How to deal and interpret these objectives is also a major problem. Some see opportunities while rest see risk in it. Investors are eager to protect their powerful investments. In the meantime, different opponents are rising from many areas and consumers shout for fairness, right, choice and justice.

Issues in the Australian Energy Market

The problems of energy in Australia is not caused by the processes of the free market but dominant policies of energy accepted by the liberal parties and labor force. There are three significant results achieved by the energy policies:

1. Elimination of usage of fossil fuels by increasing energies of wind and solar.
2. To reduce the emission of carbon dioxide power plants from coal-fired are closed.
3. In the New South Wales and South Australia, the expansion of natural gas is prohibited.

The shutdown of electricity in South Australia that kept the whole area without electrical energy for more than 28 hours was caused by too dependable on wind energy. The closing of last power plant of coal-fired also affects the state. The report of 2014 submitted by the operator of Australian energy market (that runs the energy market on a national level) and Electranet ( that runs the transmission grid of electricity on a national level) expected that if policies of decarbonization continue than South Australia will suffer the blackout.

In spite of the considerable problem, the government of labor in South Australia still insists to keep on the wind energy with the aim to supply 50 percent of the district’s electricity. The state government is taking action because due to the shortage of natural gas industries are closing their plants. Warning bells for the shortage of power have been ringing because many power stations have been closed in Australia.

Regulators of Australian energy market predicts if the energy of AGL is not succeeded to complete all the phases of its plan after the shutdown of Liddell power plant, the New South Wales will need extra 900 megawatts of dispatchable generation capacity. AGL decided to close the Liddell power plant in 2022 and change the coal plant with renewable, storage of battery and for peak period gas power will use.  The alliance of Turnbull government and the public wanted AGL to increase the Liddell operating life for at least 5 to 7 years.

Canberra request is refused by AGL and continue with their own plan.  To replace the Liddell power plant the additional capacity will come from Newcastle power plant(300 MW), site of New South Wales, coal plant of Bays water(110 MW) and from renewable (1800 MW). Till AGL successfully roll out all phases of its plan, the need for additional generation capacity in NSW is required. After the closure of Liddell power station there is still a possibility of a shortage of electricity, so AGL should be fully committed.

To decrease the risk of power shutdown, further 900 MW of dispatchable resources of power will be added to the market of electricity by 2027-8. During the peak hours, to supply the reliable electricity to the different region is only possible when additional dispatchable power generation is added. The 1600 MW coal power plant, Hazelwood, Victoria’s has been closed also. Removed 6% Australia’s base load and 25% Victoria’s.  the development to supply the natural gas to different parts of Australia is not possible with few coal power plants.

A power engineer Peter Farley and president of Victoria branch of Australia’s Engineer has proposed a plan to overcome the crises of energy in Australia.

Rising Challenges in the Energy Market

As the Liddell power plant, Hazelwood and Anglesea have already been closed, so the main concern was Victoria will be having an insufficient supply of electricity. Yearly supply and peak demand are the factors to be questioned. The yearly demand of  Victoria’s electricity is 50 GWhr and 15 GW demanded at the peak time. Victoria is having 8.5 GW of coal, dispatchable gas and local hydro additionally it shares 1.2.GW to a snowy scheme. South Australia, New Castle, and Tasmania are the interconnected capacities of Victoria. The power demand of super peak time cannot be fulfilled by energy flow from South Australia. There must be 10 to 15 % reserve capacity to balance the system if any failure or congestion grid occurs. Victoria requires more sources to supply high-reliability power. The efficiency of energy, shifting of demand and reduction of demand ( usually combined together and act as a response to demand), at the back of meter generation, storage, and the new generation (Potter, Smith, Angela and Ludlow 2017).

The economy of Germany is 30% industrial while in Victoria only 10%, we utilize more energy per output unit. Apparently, there is a vast scope of the efficiency of energy. Currently, the plan of energy efficiency is adequate but governments of state and local are not agreed to enforce the standards of air-conditioned and refrigeration in a building. After 5-6 years, 2-4% per year use of energy will be reduced by the Victoria. Ultimately the demand for peak time will also be affected. The target is to reduce the peak demand by 150-250 MW every year. There will be no considerable effect on the next 3 years but influence the need for future generation (Blair 2018).

In California,50,000 houses were selected and a plan was set to reduce the peak demand by just 2 kW per house. Rush hour rewards is also an example of demand shifting. In Austin, run time of air-conditioned reduced about 60% in 50 days by the rush hour reward system. To start these systems houses and buildings have to pre-cool before the peak demand and later during peak demand slowly temperature will drift up by 2C. This plan is also effective to switch off time insensitive loads such as a dryer, pumps of pools and heaters (Marshall 2017)

The premises of commercial and cool stores can also follow the same technology. As hardware is already installed in pool pumps and A/C, so it is considered to plan for 100MW( 100000Kw ). This hardware can also be installed in different commercial and industrial areas.

Collaborative Effort Required

Demand reduction is usually term as a response to demand. For this large number of users decided to decreased load on the particular time of peak demand. It seems that Alcoa has this contract. It is possible to perform an auction for 700-800 MW. It would not be used in this summer but it depends, from when and where solar and wind batteries come on flow. Alcoa will run at full production and reduction of demand will be useful if coming summer is hot. It is running well at a sensible price or else idle diesel generators.

Behind The Generation Of Meter.

Backup combined heat system, power generation plant and generators are installed in many industries, commercial areas, hospitals and government centers. According to the rules during the building process, these systems must be cut off from the grid. Later with advance work like upgrading of control systems, these systems could be linked again. The capacity of this system is still not confirmed but probably it contributes thousands of megawatts per year to stabilize the grid. With little increase in the cost, the capacity of this is similar to a gas turbine generator. There is a need for regulation to increase the usage of this system which ultimately affects the export rate of electricity that helps to equalize the load of heat and electricity.

The commonly used form of storage is warm water and later freeze for A/C and refrigerator. This is temporary storage and will not help out to make difference at peak summer time. In the same way, hydro pumps have a great impact about 5 to 6 years. In Germany, California and UK batteries are fixing in generators to handle the rising peak capacity. This system can be fixed at substations and switch yard to simplify the congestion grid, this system is running in California and being planned to install in Victoria. This system is also installing behind the meter as around 30,000 consumers will do across the NEM this year. All these strategies have limitations; though, a mix is working great for the last 10-15% of the super demand for peak day. There must be a fair division of the benefits and cost of batteries at every substation. Check and balance is highly required(Rachel 2017).

By installing batteries in all kinds of the generator( coal to solar), the short-term response is getting improved and some storage is needed for installing a new grid of renewable. Finally, the customers who are ready to install batteries got limited subsidies that drawn down by operators of the grid while the cost and price are high. To deliver any power the customer will be paid wholesale price. In the first year, 30-45% capital subsidy declining to a minimum but in later 400-600MW will be build up behind the storage of meter (Milliken n.d)

Reducing Peak Demand and Improving Energy Efficiency

Victoria can produce about 50-55,000 GWhr every year and it depends on the factor of the capacity of a gas plant. Instead of using expensive gas the black coal of New South Wales and hydro of Tasmania can also be used. There are many ways to enhance the peak capacity of present hydro designs and adjoint other hydro schemes to existing dams. This system cannot supply much energy every year but can supply up to 150-250 MW of added peak power for 30-60 important hours every year, it can on and off very quickly than gas turbines so it has less fault response, and don’t have any cost of fuel. It is to be clear that this is a better use of present resources (Ryan 2017).

To increase the availability of renewable is the need of time. The best example is turbines with low wind their cost is high but produce for many hours than the present design. The wind farm can be located at the east of the state, they raise the capital price but will increase the path to reduce renewable generation and reduce the duration time to supply gas. The existing energy market does not have these benefits. More renewable energy, extra storage, and more energy efficiency will be required if more coal plants shut down in a country. In the next three to four years, the energy efficiency program of Victoria will be developed in all areas of economy and transfer present standards of building into standards of California.

Table 1.1 Generation investment in National Energy Market

Clean Coal:

The term “Clean coal” indicates the extraction of carbon emissions by the process of burning coals and the storing process which works under the earth. (australian atlas of mineral resources, n.d.). Carbon captivation and capacity work, yet is costly to fabricate or to retrofit onto old plants. (Lenzen, 1998). We’d have to complete significantly more captivating and storing it to have any kind of effect in engaging overall carbon outflows. (Ong, n.d.).There are different disadvantages related to consuming coal, as well. (Riedy, 2003.)Throughout recent years, “clean coal” has been a political pipe dream. The thought coal—our most seasoned, dirtiest vitality source—could be reshaped in a way that gives us a chance to continue utilizing it without doing as such much damage to the earth.(Wilson, 1994)

The expression “clean coal” has been connected to numerous advancements, going from wet scrubbers, which expel sulfur dioxide from the coal-created gas, to coal washing, which expels soil and shakes from coal before it’s sent to a production line. Speculatively, the term could be connected to anything that makes coal plants more efficient, like modernization effect.(Dijk, 2013) Be that as it may, when individuals discuss clean coal nowadays, they’re normally looking at something many refer to as carbon captivation and capacity.(Wilson, 1994)

Alternative Sources of Energy

The black coal is called black considering its dark shading. It fluctuates from having a brilliant, sparkling gloss to being exceptionally dull and from being moderately difficult to delicate.(Barbier, 2007) It has higher vitality and lowers dampness content than dark colored coal. (Bird, 2014)Well known eras of are Permian age (around 250 million years of age), however, bring down rank, more youthful stores of Triassic, Jurassic and Cretaceous ages are likewise imperative. (Clifton, 2010)Permian dark coal from New South Wales and Queensland is sent out in huge amounts to Japan, Europe, South-East Asia, and the Americas. (Lenzen, 1998)The real utilization of the black coal is for creating power in control stations, where it is thumped and consumed to warm steam-producing boilers. Coal utilized for this procedure is called steaming coal.(Barbier, 2007) In 2008 77% of the power created in Australia was delivered by coal let go control stations (incorporates the black and the browner coals).(Bird, 2014)

A few kinds of black coals are reasonable for coke-production. These coals are called coking coal and when warmed without air create gases and coke. (Bird, 2014)Coke is a permeable strong made chiefly out of carbon and powder. Great quality coke is hard, has a high squashing quality, and is essentially utilized as a part of impact heaters that deliver press.(Dijk, 2013) Numerous natural chemicals, including tars and feed stocks for influencing different plastics, to can be set up from the side-effects of coke and gas generation. Some coal is utilized principally to get these items.(Lenzen, 1998)

Petroleum Use For Power Generation As Australia Is Exporting To Other Nations:

A great part of the vitality traded from Australia is utilized for creating power abroad; three-fold the amount of warm dark coal is sent out as is utilized as a part of Australia, and all the uranium generation is traded. (Lenzen, 2001)

Australia additionally trades a lot of resources in the form of mineral items. the exports for the aluminum metal, alone implant costs approximately 27 TWh of power for every year, which is around 11% of the nation’s aggregate gross creation and that’s a huge amount that’s Australia producing.(guide, n.d.)In the year 2015 around 34 TWh was utilized as a part of non-ferrous metals (aluminum smelter generation represents the majority of this), half of the business aggregate of 77 TWh. (australian atlas of mineral resources, n.d.)

Most of the development in esteem including producing in the previous 20 years have originated from enterprises which are vitality and especially power escalated. The development has happened in Australia because of generally low power costs combined with a high unwavering quality of supply and the closeness of common assets, for example, bauxite/alumina.(Wilkinson, 2011.) Australia is an individual from the Organization for Economic Cooperation and Development (OECD) aggregate which elevate approaches to enhance the monetary and social prosperity of individuals around the globe. (australian atlas of mineral resources, n.d.)Australia is one of just three net hydrocarbons sending out countries in the (OECD) and is the biggest exporter of the coal supplies. Australia additionally sends out flammable gas, however, is a net shipper of oil. (Lenzen, 2001)

Battery Storage and Short-term Response

Australia is supplying vitality assets both universally and locally as it has vast assets in coal, URANIUM and flammable gas. The OIL, GAS AND ENERGY ventures are real supporters of the Australian economy. The KPMG Eco and tech expressed that “the oil business initiated $6.2 billion for every annum to the GDP. This is 66% the commitment of the materials, apparel and footwear enterprises and double the ranger service and angling businesses.”(Ong, n.d.)

Australia is known to be the largest investor in the oil, gas and vitality businesses and with proceeded with populace development and the consistently expanding requirement for vitality, future monetary development is a distinct. Not all regions of the nation have been completely investigated or misused for oil and gas holds. Australia has a solid development potential in extending creations and expanding exportations. (Bird, 2014)

Outside ventures contribute fundamentally to the financial development of Australia. Its protected, steady and honest political and administrative arrangements and techniques make Australia an appealing speculation opportunity. COAL SEAM GAS alone has gotten $31 billion in speculations inside four months of creation in the year 2010 while different nations have needed to sit tight years for financial specialists to contribute towards ventures.(Riedy, 2003.)

Although Australia has significant stores of uranium and is known to be one of the world’s principal exporters of the mineral, it doesn’t itself misuse atomic power.(Dijk, 2013) This is regardless of the nation having a stable political and financial condition notwithstanding generally stable topography, a vital factor as for the area of atomic power stations and for putting away radioactive waste.(Lenzen, 1998). Some unmistakable Australian earthy people have pushed the utilization of atomic vitality as a low-carbon contrasting option to consuming non-renewable energy sources, and a few nations – especially China and India as mentioned in the (IAEA, 2011a) – are extending their atomic enterprises with 65 atomic power reactors under development around the world (IAEA, 2011b).(Lenzen, 2001) In Australia, in any case, the tenor of the verbal confrontation about the likelihood of utilizing atomic power stays quieted. (Wilkinson, 2011.)Of the two noteworthy political gatherings, Labour’s longstanding approach is to restrict its improvement, while on the other side the Liberal Party has for the most part upheld the idea.(Riedy, 2003.)

Australia has proved to be a dependable and focused player in the oil, gas and vitality enterprises and is a strong supporter of CORPORATE RESPONSIBILITY PROGRAMS, natural preservation and reclamation ventures and COMMUNITY DEVELOPMENT PROGRAMS. (Dijk, 2013)Australia likewise has moral and controlled exchanging understandings concerning the exportation and utilization of uranium and will just supply it to nations who have consented to reciprocal shields arrangements with Australia, agreeing to directions that it might just be utilized for power age and may not be utilized as a part of weaponry or fighting creation.(Clifton, 2010)

Benefits and Costs of Batteries

AEMO’S thought about to produce as much energy which would deliver it to all Australian’s. The Australian market operator is responsible for delivering the gas and electricity in markets and is also operating the power systems, following includes:

• The national energy market, which is responsible for interconnected power systems in the eastern Australia and south-eastern sea board.
• The whole sale electricity market of Australia and power systems which is in western Australia.

It is also operating the following:

• The Victorian declared the wholesale gas market, and the transmission of Victorian gas systems.
• The natural gas services by bulletin board
• The western gas of Australian by bulletin board.
• The Moomba gas supply hub and wallumbilla which is in Queensland and south Australia.
• The short-term trading market of wholesale gas which is in Adelaide, Brisbane and Sydney.

• As it is known to be the biggest particle of lithium ion batteries are now currently allocated in the South Australia which is now being conveyed fourteen days back, effortlessly whipping the guarantee the Musk of Elon made of “100 days or it’s free.” (Wilkinson, 2011.)The government of South Australia takes note by checking out of the blue, breeze vitality could be guided towards framework all day, every day enhancing the framework’s dependability, regardless of the breezy whether is going or not. (Wilson, 1994). The battery of 100MW cultivate has sufficient stockpiling ability by controlling about0 30,000 homes. (Ong, n.d.)
• dispatch of todays arrives shortly after a managerial period of testing that observed the battery’s capacity for both in charge too, and from the National Energy Market of Australia and go about as an originator. The company of NEM merges links around Australia and 40,000km of transmission lines. (Ong, n.d.)power packs of tesla were associated with Hornsdale windfarm products, which is few hours by the north of Adelaide. (australian atlas of mineral resources, n.d.)
• “The completion of the world’s biggest lithium-particle battery in record time explains that a reasonable, viable vitality arrangement is conceivable,” the Tesla in an announcement said, “We all are pleased to be a part of the South Australian’s sustainable power source of future, that seeks the task gives an archetypal for the after-future representation of organizations located all over the globe.(Clifton, 2010)
• The person Tesla explains the importance of the battery that will benefit in illuminating the energy of states that lack hardships, and help within midyear top burdens. South Australia has been incapacitated by vitality issues, and endured a far-reaching power outage last September. (guide, n.d.)That occasion started a very politicized discuss about vitality of security, which is withgovernment of Federal, explainingpossiblefaults of sustainable power source which covers the use, while the others indicated the transmission of lines and the towers which are toppling over because of extreme climate.(Clifton, 2010)

To forecast the commodity exports of Australia it is important to increase the supply and demand of global energy. These both factors give the positive impact on local economy. To plan the future it is necessary to keep in mind the trend of long-term that support the demand of global energy. There is a significant level of doubts that how will the demand of global energy be change, the more we look the future the more that doubts becomes. China is the largest emerging economy where high growth of energy demand noticed. Though, increase in economy is predicted slow as  these economies establish (Roberts, Saunders, Spence and Cassidy 2016)

In all rule changes and reviews, analysis is centered on the concept of efficiency. Efficiency has three different elements and each project may emphasis a different one, there may also be trade-offs between these different elements of efficiency, specifically

1. The first element of efficiency focuses on an individual task or process and is an evaluation of whether, for a given level of output, the value of resources (inputs for this output are minimized. If the value of resources used in a process are not minimized there is an unnecessary economic cost in producing that level of output. In energy markets, this would mean removing inefficient costs incurred by market participants in order that they may supply energy to consumers at a price that closer reflects the cost of providing that energy service.
2. The second element of efficiency is concerned with allocating resources to produce the right mix of things. In energy markets this means that the community’s demand for energy services is met by the lowest cost combination of demand and supply side options. This would occur when the value of the energy services to consumers is greater than the cost of supplying those energy services: when faced with a set of prices, consumers and businesses will choose the services that they value most, and resources will be allocated accordingly.
3. The first two elements of efficiency are based on an assessment of a market at a particular point in time. The last element considers the prospects for having the right mix of resources, to produce the maximum amount for the minimum cost, over time. Such markets are characterized where there are no barriers to innovation, the exit of technology or the uptake new of technology and efficient long-term investment. For example, in assessing policy mechanisms that may be put in place by governments to reduce emissions, the ability of that policy to adapt to uncertain future outcomes, for example demand outcomes deviating from forecasts, will determine how well that policy can be integrated with the energy market.

As the commodity prices increase the demand for raw commodities also increases from rising economies. Investment in mining industry sparks a considerable increase in Australia. The increased capacity of Australia uses to generate iron ore and coking coal to meet the increased production of steel in China.  Production capacity and export energy commodities mainly LNG also increased. Around $320 billion equal to around 15 percent of the worth of GDP of one year. It has been invested in the capacity of Australia to generate LNG. Ultimately, Australia has increased its importance as a energy commodities supplier, growth rate of export of thermal coal increased and LNG have high impact on growth of GDP.

The prices of energy commodities decrease as the supply from Australia or anywhere increases. To has created many challenges for Australian manufacturers and raises many queries about the possible future increment in energy demand and potential for Australia to supply.

Over the coming few years, the rate of development is predicted to slow off the global supply of thermal coal as the prices of thermal coal have decreased and the demand for thermal coal has increased. It is predicted that present supplier of higher cost gas producers will be reduced. In reality, a significant share of thermal coal production in Australia is expected to be unbeneficial in an existing price. Extensive pick-up in global energy demand would be required to observe any large development in a export of thermal coal from Australia.

Closing Remarks

On the contrary, in Australia production of LNG is rising up with the considerable increase in investment. Capacity is increased due to the advance expansion of technology allow new preserves to be accessed effectively in cost. For example, approval and construction started on the seven large-scale projects of liquefaction, in Queensland two are unconventional projects of coal gas. One liquefaction project is situated on offshore in the west Australian Browse Basin. These advance developments indicate that Australia is expected to be the big manufacturer of LNG in the world and with capacity o75 million tonnes per year.

Conclusion

The demand for energy is continuously increasing but not that fast then it has been because several new and big emerging economy markets are growing. The advance progress of technology and continuous changing of regulatory have enhanced the energy efficiency and modified the energy mix which can be effective in cost. Exports of Australia’s LNG are continuously rising while the exports of thermal coal are inadequate. The innovation in technologies and willingness in investment are the main factors for the increasing demand of cleaner fuel and growth for energy efficiency.   

References

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