AEMO Victorian Planning (AVP) has published the 2023 Victorian Annual Planning Report (VAPR), assessing the performance, challenges and investment opportunities for Victoria’s electricity transmission network.
As Victoria’s transmission planner, AVP prepares the VAPR with insights from the Integrated System Plan and key studies, including system performance, supply reliability, network capability and emerging development needs to deliver net economic benefits and lower costs for consumers.
AVP Group Manager, Nicola Falcon, said that Victoria’s energy landscape continues to transform, requiring network investment to maintain reliable, secure and affordable energy.
“The VAPR aims to manage Victoria’s changing energy landscape and risks in the context of rapid policy, operational and network development changes,” Ms Falcon said.
“In the last financial year, Victoria’s transmission network remained secure, despite record low minimum demand and unprecedented levels of inverter-based wind and solar generation.
“Looking out over the next decade, network planning must consider retiring coal-power stations in the Latrobe Valley, growth in renewables and storage which are currently being developed predominantly in the west, as well as state and federal government policy, including support for offshore wind development.
“At the same time, electricity usage is forecast to increase, so too consumer uptake in solar, batteries and electric vehicles, which will also shape Victoria’s energy future,” she said.
This VAPR highlights that action is required to address emerging limitations in both east and west metropolitan Melbourne, to ensure supply reliability for the Victorian energy consumers.
To meet the forecast future needs of the system, AEMO is progressing a suite of projects across the state through its Transmission Development Plan for Victoria, and the Victorian Government’s Renewable Energy Zone Development Plan.
These investments act to strengthen the system and reduce overall costs to consumers by unlocking lower-cost generation supplies, enhancing competition, and improving the efficiency of resource sharing between neighbouring regions.
ENDS