By 2050, Australia is projected to use 389 TWh of electricity a year — the same as powering the MCG nearly 18,000 times over.
AEMO predicts the rise of data centres and system electrification to underpin the almost doubling of our electricity usage over the next 24 years.
To meet our growing appetite for electricity, renewable generation projections have increased slightly and are now supported by 50% more gas to help firm their variable generation.
With more gas on demand, AEMO is reducing the amount of storage required in the NEM from 50GWh to 44GWh, particularly cutting back on long duration storage as cost blowouts continue to plague Snowy 2.0 and battery efficiency and costs continue to improve.
To connect it all together, the transmission scope has shifted to prioritise essential projects that will unlock renewable energy zones and support faster coal exits.