The Energy Security Board (EBS) has released its final proposed design for the National Energy Guarantee and associated electricity market modelling. This brief outlines the key take-home points for Victoria from the ESB’s modelling which are:
The Victorian Renewable Energy target will contribute to lower power prices in Victoria
Additional renewable energy will further depress prices and moderate the impact of coal power station closure
Under the Turnbull government’s emissions target, investment in renewable energy will stall in the absence of the Victorian Renewable Energy Target.