Entura have released their report into further pumped hydro cost modelling. Download the full report here (.pdf)…
“To inform future modelling of Australia’s National Electricity Market (NEM), better information is needed on the cost of pumped hydro energy storage projects (PHES) across the NEM states. TasNetworks engaged Entura to develop a cost model for PHES to inform its market modelling for Project Marinus and with a view to sharing the conclusions of the study with the Australian Energy Market Operator (AEMO) for use in future Integrated System Plan (ISP) modelling.
Neither capital costs (CAPEX) nor operations and maintenance costs (OPEX) for PHES in Australia are well understood in the market. This is mainly due to the fact that no PHES have been built in Australia for over 30 years. Around the rest of the world, however, rapid uptake of the technology has continued during that period. As renewable penetration increases and thermal plant retirements continue, interest in PHES in Australia grows. PHES has the potential to play a major role in firming renewables so better understanding of both CAPEX and OPEX are required by electricity market stakeholders.
This study draws on the experience of Entura, who has current data on the costs of developing, implementing and operating hydropower projects around the world as well as exposure to the PHES market in Australia. Entura has drawn on the wealth of experience within Hydro Tasmania to support the estimation of OPEX for PHES.”
