BY OLIVIA DILLON
The Australian Energy Market Operator (AEMO), says urgent investment is needed for the Hunter's renewable energy projects.
With the upcoming closure of the Liddell Power Station, the Operator has updated the 2022 Electricity Statement of Opportunities, and says projects in the pipeline need to be fast-tracked, to avoid the continuation of soaring energy costs.
The update reflects key concerns already held by the region's peak business body.
Business Hunter CEO Bob Hawes, said measures need to be put in place across the region, to prepare businesses and households for the possibility renewables won't initially be able to match domestic demand.
"We've got to now stress more strongly to businesses and the community, to look much more carefully at energy conservation measures; how they can put in place measures that will reduce their energy consumption as a way to offset the pressure that they're likely to come under as power shortages continue," Mr Hawes said.
"If they do, it's likely we're not going to see the stabilization of prices at all. Prices are likely to stay quite high."
He also said with the election coming up in March, investment in renewables should be a priority.
"We're recommending the incoming state government look at the opportunity to automatically designate any renewable energy project as a state-significant infrastructure project, so it moves quickly through the planning process," Mr Hawes said.
"We need to give these projects as much support as we possibly can, because at the moment it's looking a little bit grim based on AEMO's forecast."
