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Back-up supply is required to support the transition
The Australian market will require power stations (such as efficient, fast-start, gas-fired generators) to “firm” renewable energy intermittency and provide network stability* until sufficient renewable build, network investment, demand management and zero emission deep storage is available.
Iona will play an important role
We expect Iona to play an increasingly important role during the energy transition, by providing underground gas storage services to gas-fired power generators, which we believe will be critical in providing ‘back-up’ supply during periods of low renewable energy generation. We are currently investing to strengthen the reliability and capacity of Iona.
In Lochard’s view, the combination of renewable energy, gas-fired power generators and other technologies will play a key role in the transition away from high-emitting coal generation.