This consultation has closed. To view the current Capacity Investment Scheme consultation, click the following link:
https://consult.dcceew.gov.au/capacity-investment-scheme-western-australia-design-paper
Overview
The consultation sought views on the proposed design and delivery of the Capacity Investment Scheme (CIS).
Consultation has closed – thank you to everyone who provided submissions.
The aim of the CIS is to encourage new investment in clean dispatchable capacity, support reliability, and reduce the risk of price shocks in Australia’s changing energy market. The CIS expects to bring on at least $10 billion of new investment and 6 GW of clean dispatchable capacity by 2030.
A series of competitive tenders for this capacity will be rolled out from 2023. We will be seeking bids for clean renewable generation and storage projects to help fill expected reliability gaps. Projects selected will be offered long-term Commonwealth underwriting agreements for an agreed revenue ‘floor’ and ‘ceiling’.
The first phase of the CIS was announced in the 2023-24 Budget and will be rolled out in 2023, involving:
Partnership with NSW Electricity Infrastructure Roadmap – Commonwealth support for up to 550MW of firmed capacity, in addition to 380 MW already committed by NSW.
South Australia / Victoria tender – Commonwealth support for up to 600MW of dispatchable renewable capacity with 4-hr equivalent duration across the two states.
Further details on the national roll out of the scheme will be outlined by the end of 2023.
