Commentary
On June 30, the Australian Energy Market Operator (AEMO) released its latest integrated system plan (ISP) for the East Coast Energy Market.
It could not have come at a more significant cross-road for Australia’s energy industry—at the end of a month in which electricity and gas spot markets were subject to price caps, then the electricity market was suspended, reserve capacity went as low as it can practically get, and world leaders at the G7 summit began to dilute the idea that they are actually hostile to fossil fuels.
The ISP made it clear which form of energy future AEMO is betting on from the first executive summary heading “the irreversible energy transition.”…