News

Report: Quarterly Renewables Report Q1 2016

29 Apr 2016

The Quarterly Renewables Report is available as part of Green Energy Markets' Renewables subscription.  For more information or to susbcribe please contact Emily on 03 9805 0729 or email us.

Highlights from the latest report include:

  • In the prior December report we estimated that 4400MW of new project commitments were required in 2016 to avoid a shortfall from the target. With one quarter down only 226MW have been committed, reinforcing our prior conclusion that it is extremely unlikely that the market will avoid a shortfall in 2018 and consequent penalties.
     
  • The market appears to share a similar sentiment with spot LGC prices rising to a peak of $83.50 and hovering between this and $75 – levels which are well above the nominal penalty of $65 and indicative benchmarks for the levelised cost of new wind farms.
     
  • We have downgraded our expected generation from hydro for the 2016 generation year by 250,000 LGCs due to Hydro Tasmania’s water storages reaching record low levels of just 14 per cent
    .
  • Wind power output had its worst ever quarter since we began tracking quarterly capacity factor performance in January 2013. The average capacity factor across the March quarter was 27 per cent, compared to an overall monthly average of 32.1 per cent since 2013 for 2388MW of wind farms that have been operational since that time.
     
  • Significant project commitments during this year to date included the 175MW White Rocks Wind Farm, the 6 turbine, 20.7MW expansion of Waterloo Wind Farm and the ACT Mugga Lane Solar Farm.
     

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