Energy ministers’ decision to shelve ‘coal keeper’ mechanism welcome move

Nexa Advisory welcomes today’s Energy Ministers’ announcement to accelerate variable renewable energy (VRE) resources and storage capacity, and the associated decision to cease consideration of the Energy Security Board’s options for a capacity mechanism.

Industry participants and key stakeholders have always supported the prioritisation of a mechanism that would enable the clean energy transition process and ensure stability of the national energy market.

The Capacity Mechanism put forward by the Energy Security Board (ESB) was deeply flawed and would never meet the above criteria.

Link to full media release: nexa media release – Capacity investment scheme