Australia this week signed on to a new global electrification target as a large part of the world leans into fossil fuel alternatives on the back of the war in Iran.

There was a long-awaited win for the demand-side and energy prosumers this week with a new ‘FlexCost’ model, and a fresh call for a new state-owned entity to build and deliver renewable electricity to power Australian industry.

The impact of lower wholesale energy prices was reflected in new lower default market offers released this week.

In a week of firsts for renewable energy projects, New South Wales launched its largest ever generation tender and the Victorian government greenlit the largest windfarm in the southern hemisphere.

Climate and energy policy measures in the budget were a mixed bag with experts lamenting many missed opportunities for reform amid the energy crisis.

State budgets delivered cost of living relief this week as the fuel crisis and rising interest rates bite. Meanwhile, support for renewable energy looks set to be trumped by crisis response measures in next week’s Federal Budget.

Australia’s utility scale battery boom is helping push down wholesale energy prices, but this week showed just how much the transition still relies on transmission and distribution.

Network tariffs were front and centre this week as the rule maker delivered a new model making the case for higher fixed charges, and big energy users warned transmission blowouts were already hitting the network component of their energy bills.