The principal contractor revised the Snowy 2.0 expected cost to $22.5 billion. The 2.2 GW project previously had a projected cost of $22.2 billion. The revision increases the estimated expenditure for the development.
The NEM recorded a mean price of $96.9/MWh. South Australia experienced 10.8 hours of negative prices, reaching a minimum of negative $30/MWh at 10:00 and a maximum of $250/MWh at 11:35. New South Wales registered the demand peak of 8,382 MW at 18:45. Renewable energy generated 41.3 per cent of total energy, with an instantaneous peak of 63.7 per cent at 10:40.
WattClarity reported that the Victoria to South Australia interconnector reverted to its Heywood designation. The change follows the commissioning of Project EnergyConnect Stage 2. The operational classification removes the previous Stage 1 distinction to simplify the interconnector designation.
AEMO opened consultation on its IPRR Trial Participation Guidelines, with submissions closing on 27 November. The market operator also released its latest quarterly assessment. The report states that growing solar generation and increasing battery capacity continued to reshape wholesale electricity and gas market outcomes in the September quarter.
A western New South Wales landowner entered a long term conservation agreement to provide biodiversity offsets. Electrify Fremantle launched a temporary induction powered noodle bar in Western Australia to demonstrate electric cooking alternatives to gas. Australian apartment owners are encouraged to initiate electrification planning to transition residential strata buildings from gas to electric systems. The process requires navigating strata voting and infrastructure upgrades to reduce emissions and long term costs.
Brent Crude increased 3.1 per cent to US$116.72 a barrel. Natural Gas decreased 5.6 per cent to US$2.64 per million British thermal units. TTF Gas increased 4.2 per cent to EUR93.85/MWh.