The Australian National Energy Market has released a report indicating that there is no need for investment new "baseload" generation capacity for at least four years.
This results from a fall in electricity use and slower forecast growth as well as increasing use of renewables. The report highlights publicly-announced proposals for over 13,000 megawatts of wind generation capacity and over 11,000 megawatts of open-cycle gas turbine generation capacity.
No State is expected to face an energy deficit before 2018/19, when Victoria might require 115 megawatts. South Australia might need an additional 24 megawatts in 2019/20 and Queensland might need 79 megawatts by 2020/21.
This contrasts with last years report said that Queensland would need 341 megawatts of additional capaciyty in 2013-14 and every State, except Tasmania, would face a deficit of more than 150 megawatts by 2018-19. However, the more optimistic outlook is in line with the recent report by the Bureau of Resources and Energy Economics, which substantially revised down its estimates of the future cost of renewable energy.