MHC hosts briefing – Volatile Energy Markets – Water Sector Risk & Opportunity (Friday 16 June, 2017)
Australia’s energy markets are seeing unprecedented price increases and price volatility – the summer ahead may well break all records.
What appears like risk, is however now equally matched by opportunity: but only for engaged energy market participants.
The Australian Renewable Energy Agency (ARENA) in consultation with the Australian Energy Market Operator (AEMO) will in mid-June launch a market mechanism and RFP process that will provide engaged energy customers the opportunity to secure significant savings, and even prosper in these volatile energy markets. MHC has supported ARENA with energy market innovation. This program plans to free up 100MW of demand response during extreme weather and unplanned outages; consumers will be paid to reduce their energy consumption during peak periods. ARENA expects to commit up to $22.5 million over three years to fund the program.
Industry briefing was to discuss:
- The wholesale energy market outlook – short to medium term
- The ARENA – AEMO market mechanism and RFP timeline – emergency demand response
- Practical case studies, including from the water sector
- Longer term market developments and opportunities
- ARENA has now provided information about the “demand response pilot program” – Applications are due by 5pm 10 July 2017. See: ARENA – Demand response pilot program
- $23m has been set aside to fund the costs incurred by companies to build the capability to participate in this program
- Additional significant financial payments are available to program participants
The session also addressed:
- How a business can assess the value of this opportunity (i.e. the business case)
- Key elements of the application and selection process
- Demand response case studies, including in water.
NEIL GIBBS, Chairman, MHC
RYAN WAVISH, Chief Executive Officer, MHC
PAUL HARRIS, Principal Consultant, MHC
BEN SPEDDING, Environment Strategist, South East Water
SIMON PRUNSTER, Greenhouse Gas & Energy Specialist, Yarra Valley Water
MATT COLEMEN, General Manager Network Solutions, Greensync
You can access the speaker material via the links below:
MHC’s knowledge base
MHC, an established specialist energy and water advisory firm, has played a key role in ARENA’s market innovation processes. We combine our deep knowledge of energy markets and emerging technology to advise our customers across strategy, performance and technology & innovation.