Government Unveils Energy Plans: Boosting Renewables, Grid Flexibility, and Cutting Prices
The new government has unveiled its energy plans, focusing on expanding renewable energy, improving grid flexibility, and reducing electricity prices. Key initiatives include addressing the 'shading' issue in offshore wind farms and encouraging power plants.
The coalition aims to build new power plants primarily at existing sites. It also wants to tackle the 'shading' problem by pursuing a hybrid connection of offshore wind farms that can transport both electricity and hydrogen. The interim target for renewable energy expansion in 2027 remains, while the 2032 target is under review.
To enhance grid flexibility, the government plans to promote the use of storage and strengthen dynamic electricity tariffs. It also intends to integrate reserve power plants back into the market. Additionally, the government will introduce an industrial electricity price for energy-intensive companies and 'encourage' up to 20 gigawatts of gas power plants by 2030.
To lower electricity prices, the government plans to reduce the electricity tax and lower transmission network charges, resulting in a price reduction of at least 5 cents per kWh for companies and consumers. It also aims to support bidirectional charging and the charging infrastructure for electric vehicles.
The new government's energy strategy focuses on expanding renewable energy, improving grid flexibility, and reducing electricity prices. By addressing the 'shading' issue, encouraging gas power plants, and promoting storage and dynamic tariffs, the government seeks to create a more efficient and affordable energy system.
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