"The CIS is a federal initiative designed to underpin the deployment of dispatchable renewable energy and storage capacity across Australia, offsetting any reliability gaps as the country transitions from fossil-fuel based to clean energy. It underpins delivery of the critically important federal renewable energy target of 82% by 2030 and drive energy prices down sustainably and permanently. Importantly, the CIS explicitly excludes methane gas peaking power plants. Nine gigawatts of the 32GW planned tenders announced today will be dispatchable capacity, supporting an excellent value-for-money ‘contracts for difference’ scheme based on six-monthly tenders over the next 4 years will underwrite 23GW of variable renewable energy (VRE), i.e. wind and solar."
