Industry leads electricity transformation

According to a recent report from the CSIRO, in a first for Australia, over 35 industry partners will work together to explore a future vision for Australia’s electricity system. This vision will help guide the expected $240 billion investment required by the sector over the next 20 years.

The partners, including electricity generators, distributors, transmission service providers, retailers, regulators, government, and consumer and environment groups, will collaborate over the next 12 to 18 months as part of the CSIRO facilitated Future Grid Forum.

Dr Alex Wonhas, CSIRO Energy Transformed Flagship director, said the forum will play an important part in providing guidance for Australia's electricity sector to shape its future for the 21st century.

“The sector recognised that a whole-of-system approach was required and that there is a need to develop a common view of the key options available. We have a huge energy transformation ahead of us.

“The industry will be very different in 50 years’ time. This forum aims to inform the decisions we need to make today that will shape Australia’s future electricity supply, prices and the industry’s carbon emissions,” Dr Wonhas said.

This project builds on past forums, including energy futures, future fuels and sustainable aviation fuels; all based on CSIRO’s proven forum methodology that centres on collaboration with industry, consumers and other stakeholders to develop a clear road map for the future of energy in Australia.

The forum will draw on the expertise of forum participants and use sophisticated economic and energy market modelling to map out future scenarios.

The forum process will complement the Australian Government’s Energy White Paper and reviews carried out by the Australian Energy Market Commission and the Productivity Commission.