MEFL 2017 Annual General Meeting

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Eustace Rose
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1 MEFL 2017 Annual General Meeting

2 Welcome from the Chair Monique Conheady

3 Report from the CEO Alison Rowe

4 MEFL at a glance 4

5 EnergySmart 1500 homes 5

6 Expansion into NSW 6

7 Year of investing; laying foundations $600 Budget Actual $552 $400 $200 PC in NSW Spark New CEO Engagement Organization Change PC Business Performance $0 ($200) ($96) ($400) ($294) FY16/17 FY 17/18 7

8 What MEFL will be focusing on in

9 The energy transition 9

10 Our role in the energy market We are a leader in the economic, environmental & social transition to the new energy market 10

11 Delivering impact nationally Improving homes Supporting the sector Visioning Moreland in 2040 New services and products Building our team 11

12 Supporting equality 45% 71% 48% 12

13 Guest Speaker Jo Witters, AEMO

14 Matching the pace of transformation October 2017

Biggest wind farm set for Victoria stand on Its own merits. portlcularly dally viably. the market price has Nick Le - -- when """'lp' policy is at the mercy or bouocedup,"hesaid.

15 Biggest wind farm set for Victoria stand on Its own merits. portlcularly dally viably. the market price has Nick Le - -- when """'lp' policy is at the mercy or bouocedup,"hesaid."lt lsnowatlcvels pollucians. where lnvl!stment in new genc"'.ltl? n Renewable energy nttds to be an capacity aaually makes sense again. a<!ull now In the energy sect.- Mr Geiger told 1'11, Australian Financial \"'1 50, Mr Gelger Is keeping a Rmtw. w.ltchingbrierontheenergydebote.as w\oe1'1alnl)' lingers o--er the rumrc of "That means the less we rely on any governmet suppo,t scheme. the less the F!nlcd Review's dean energytarge and debate rumbles on _,- extending tbe nsk IS of an lldverse Impact on e investors long-tam from a ch 10 the life or coahrred clunkers such as AGL Energy's Liddell plant. rtgulations. "What we are more afraid or is gov- What makes the massive Golden Plains stack up for WestWmd. which emment doing really srupid things by has developed other Victorian projects propping up Old coal-fired power sea- is the rising cost of traditional energy. lions for them to operate longer. he sa i d. G<:rman-ed West Wind Energy bas submitted plans for a $17 biuion wind farm ln sooth-wesi Victoria, making II the such fuclllty potentially In the southern hemisphere. If approved, the massive Gclden Plalns wind arm of 231 turbines will generate 3.000GWh or power annually. enough to power 500,000 homes. Some 39 landholders arouod ROkewood. south or BallaraL can expect to earn at least $3.5 million in annual income combined for hosting the rurbines. The Golden Plalns projc(.1 Is among che next generation or wind farms in the pipeline as the state government legislat.es Its own state-based renewable energy crrg,,t. The siare plruining authority Is now conskler111g four wind rann projects. along with applications to amend three exlstlng permits. Adding momeurum to the seccor rwo years ago. Victoria limited the setbaclc around wind farms to one kilometr reducing the two-kilometre zone within which land holders could prevl ouslyv<to a proposal. For WestWllld, the Victorian inluat Ives are helpful but they are not core to the project's busille$.s case. Indeed. for chief execudve Tobias Gelger. the Golden Plains project musi ln Its bu.sincss C3SC ror the project. 11\at maydilutelhemarket prlceto Wf51Wind did not ascribe a value for the large-scae generanon eerttficates - a point where investment for the private sector becomes unattractive. aformofrenewableenergycertillcate- "That would then leave potentially lhat the project will generate. "At lhat n10rocot our COSI of energy Is closer to half tile market price. because the market price has finally gone to levels that are xrually rellectl\'eol the tru<! COS1 of generallon with a mlx of genera1ors," Mr Geiger said. Unlil more I\Ulltly, wholesale energy prices were relau,-ety subdued. as= reflected old. fully wntten-oll. coal-fired power stauons wllhoul tlk ing into account the cost or their rcpla()cl he said. "Now that some of them get mothballed because they are just too Old to ktti, them running commer- stranded ass,u. but more lmponantly would actually Ioele-out A!JSlralia out from the energy transition for a bit longer. GreenSvnc CEC1 Dr?hil Bll'the. Source GreenS,,,rc Twitter create up to 350 construction jobs and 2 0 permanent J)ositions once operational Dr Lynham s.aid the Coordinator-General had placed conditions on his EIS approval induding on noise, shadow flicker, electromagnetic inter-

16 The rise of renewable generation Small wind units 43 Large scale wind 4,035 MW Small solar PV units 14,064 Large scale solar 233 MW Near 10x increase ( ) More than doubled ( ) Over 100x increase ( ) Over 47x increase ( ) ,678 MW 1,691,840 11,043 MW

17 Adequacy Managing security and reliability in a transforming system Reliability and Security Resources required demand and supply solutions necessary

18 Changes underway AEMO-ARENA demand response trial Proof of concept initiatives Development of microgrids Pace of change differentiates Aus with other markets

19 Frequency and inertia requirements AEMO working to enable the transformation Operational changes Proof of concepts Advice on reserves and need for flexibility Price Responsive Demand Storage

20 Thank You 20

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