Delivering a competitive Australian power system Part 2: the challenges, the scenarios

Abstract

The technical report considers possible scenarios for delivering a competitive Australian power system in 2035. Accordingly, it examines where the Australian power economy needs to be positioned to address the issues that global change presents, including rising prices, carbon constraints and public support for renewable energy. The report highlights the immediate need for major investment in multiple technologies and significant policy intervention to reach emissions targets and public expectations. It reveals that Australian industry and government face two basic choices: 1. Start now on a course of action that will lead to abatement, reduced pressure on electricity prices and offer increased technology choices by 2025; or alternatively2. Wait until technology options like carbon capture and storage (CCS) and nuclear power become viable, and implement the technologies in relative haste to meet climate change requirements.