Page 1867 - Week 05 - Thursday, 11 May 2017
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(7) Does the ACT Government need to sign any new contracts in order to reach the 100% target.
(8) As a result of the contracts signed to date, what is the actual and estimated percentage of the ACT’s electricity usage which is renewable for those periods referred to in part (1).
Mr Rattenbury: The answer to the member’s question is as follows:
(1) The estimated percentage of the ACT’s electricity supply to be supplied from renewable sources is given in row 7 in Table 1.
(2) The forecast breakdown of the ACT’s renewable electricity supply is given in rows 1 to 5 in the Table 1.
(3) Under the contract-for-difference payment system that the ACT’s large feed-in tariff scheme uses, supported generators receive feed-in tariff payments equal to the difference between their feed-in tariff prices and the wholesale price of electricity in their National Electricity Market jurisdiction at the time of generation. In the Independent Competition and Regulatory Commission’s (ICRC) Standing Offer retail electricity price decision for 2015-16, the cost of the ACT’s large feed-in tariff scheme was given as $3.41/MWh (around 49 cents per household per week) while the cost of the ACT’s small-medium feed-in tariff scheme was given as $6.21/MWh (around 89c per household per week). The ICRC gave the total cost for the large feed-in tariff scheme for 2015-16 as $8.4m and the cost of the small-medium feed-in tariff scheme as $15.3m. The cost of the small-medium feed-in tariff scheme is expected to be relatively stable through to 2020, however, the cost of the large feed-in tariff scheme is expected to rise through to 2020 as more feed-in tariff supported generators begin their output . The ACT Government’s estimate of the 2020 cost of the large feed-in tariff scheme, based on projections of output and wholesale prices, is a maximum of $5.50 per household per week and should fall in years after 2020. This is a conservative forecast and the final cost is likely to be lower than this.
(4) The cost of the renewable electricity supply shown in Table 1 is recovered through the electricity bills of ACT consumers.
(5) The ACT’s electricity estimated annual demand is given in row 6 in Table 1, ACT electricity demand is 4% to 5% lower than electricity supply to the ACT because of network losses. The actual demand for each financial year is not available until November after the end of each financial year.
(6) The large feed-in tariff prices for all the renewable electricity supply shown in rows 1 and 2 in Table 1 have been secured in deeds of entitlement, the maximum large feed-in tariff payment period is 20 years. The feed-in tariff prices secured for the supply are given in Table 2.
(7) Based on current best estimates of 2020 electricity demand and renewable electricity supplies, the ACT Government does not need to sign any new deeds of entitlement to reach the Territory’s 100%-by-2020 renewable electricity target.
(8) The estimated percentage of the ACT’s electricity supply represented by the wind and large solar supply secured through deeds of entitlement is given in row 8 in Table 1. The actual percentage for each financial year will not be available until December following the end of each financial year.
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