Call on Malcolm Turnbull to fix the energy market rules
Dear Malcom Turnbull,
It is time to get serious about fixing South Australia’s power crisis and lowering electricity bills across the country.
The truth is that the rules of the energy market are rigged against renewables. The big power companies are gaming the system and ripping us off by locking out the valuable, cost-effective stabilisation that comes from batteries and energy storage.
Key steps need to be taken now, such as reducing the settlement periods for energy providers from 30 minutes to five, if we're going to step confidently into the renewable energy future.
Under the current rules, generation is dispatched and priced every five minutes, but only settled every 30 minutes. With a change to the rules, by introducing five-minute settlement periods, the instantaneous nature of batteries and storage can compete against old fossil fuel generators.
Together with this change, a market-based carbon trading scheme and the extension of the Renewable Energy Target would help to give investors in energy storage certainty and encourage the battery boom that is already ramping up across the country.”
Malcolm Turnbull - it's time to fix the rules to give renewable energy an even playing field and reduce the price of power!