Snowy Hydro's 2.2 GW pumped hydro project reached a cost projection of $22.2 billion. The New South Wales development faces significant fiscal scrutiny following this increase. The revised figure represents a substantial rise from the initial $2 billion estimate cited during the inception of the project.
South Australia recorded 20.5 negative-price hours during the NEM trading day on 29 October. The NEM recorded a mean price of $76.7/MWh. The highest price reached $215/MWh in Tasmania at 10:00, while South Australia recorded the lowest price of -$282/MWh at 15:45. New South Wales registered the demand peak of 8,312 MW at 18:50. Renewables generated 48.3 per cent of total energy, with an instantaneous peak of 77.3 per cent at 12:05, and batteries discharged 20,443 MWh.
Engie commenced construction of the 300 MWh Hazelwood 2 battery energy storage system extension in Victoria. The French clean energy developer is delivering the grid-forming battery alongside Chinese clean energy technology manufacturer Sungrow. Spanish-headquartered engineering, procurement and construction firm Elecnor Australia is also partnering on the Victorian storage facility.
Fortescue secured its first external power purchase agreement for the Pilbara Green Grid. The company contracted to supply renewable electricity to PLS Group. The transaction marks the initial commercial offtake from the infrastructure project. The Pilbara Green Grid is one of the largest isolated green energy networks globally.
AEMO faces a worker revolt over pay negotiations. The market operator is responsible for keeping the lights on across the grid. The ongoing dispute has prompted warnings of potential blackouts and lives being put at risk.
Renewable energy consulting and engineering firm SgurrEnergy plans to open a regional office in Melbourne. The new Australian location will expand the global footprint of the company. The Melbourne office adds to a suite of seven existing branches worldwide. These international branches are located across India, the Middle East, the United States, Africa, China and Singapore.
Fluence addressed the NEM at the All-Energy Australia 2026 conference. The technology provider stated that algorithmic bidding systems for battery storage do not undermine competition within the market. Fluence maintains that automated trading software remains a neutral tool. The company rejected characterisations of the technology as a threat to market integrity.
WattClarity estimated that NEM battery trading strategies must remain dynamic rather than relying on a fixed approach. OptiGrid representative Henry Swisher highlighted the requirements for operating storage assets. WattClarity noted that optimal dispatch is dictated by specific risk tolerances. The software vendor stated that contractual obligations and broader portfolio requirements also shape battery trading.
A survey of Australian energy executives examined the deployment of capital across the sector. The survey found 80 per cent of leaders identify policy and regulatory uncertainty as a primary obstacle to project investment readiness. The results showed 49 per cent of respondents indicate a lack of viable, investable projects is currently hindering the energy transition. The executives noted this shortage of investable projects persists despite available capital.
Brent Crude fell 3.7 per cent to US$111.01 a barrel. Natural Gas rose 3.9 per cent to US$2.93/mmbtu. TTF Gas declined 3.2 per cent to EUR97.51/MWh.
AER updated the Better Resets Handbook to guide network service providers in the regulatory revenue determination process. AEMC received a rule change request from Minister for Climate Change and Energy Chris Bowen regarding a data centre contracting obligation for firmed energy. The Commission also received a rule change request from the Department of Climate Change, Energy, the Environment and Water concerning connections framework enhancements for integrated facilities. The Commission published information on metering pathways for sites without telecommunications. ElectraNet opened community consultation on future power options for Leigh Creek and Hawker. Western Power began a $6 million roll-out of 100 early fault detection devices on regional power poles to boost safety and reliability.