SECTOR SNAPSHOT

  • The energy sector is a major contributor to the Australian economy. The market capitalisation of energy companies in the ASX200 is about $74 billion.
  • Australia has extensive energy resources from both renewable and non-renewable sources.
  • Australia is a large exporter of energy.
  • Australia’s National Electricity Market constitutes the world’s largest interconnected electricity grid, and provides for a centralised wholesale electricity market for the east coast states.
  • Uncertainty remains as to Australia’s future climate change policies and how they may influence the shape of the Australian energy sector in the long term.

TRENDS

  • Technological advances, including advanced metering technologies, battery storage and virtual power plants, are transforming the Australian electricity industry.
  • The National Electricity Market is undergoing a number of reviews and reforms to seek to address challenges relating to system security and other related issues.
  • The roll-out of large-scale solar generation continues to accelerate, and the role of renewables is set to continue to expand.
  • The domestic gas market is being affected by tight supply conditions, and a number of gas market regulatory reforms have been slated.

HIVE LEGAL’S WORK IN THE SECTOR

  • Advising QIC on the foundation contract for its acquisition of the gas storage facility in Western Victoria, and acting as ‘virtual general counsel’ for the new operator, Lochard Energy.
  • Drafting and negotiating offtake agreements for ten separate proposed large-scale solar projects.
  • Advising a major electricity market participant on numerous National Electricity Market disputes
  • Advising a major metering business and electricity retailers on smart meter procurement and electricity metering regulatory changes
  • Providing Alcoa with legal support on electricity regulatory matters for its Portland smelter.

If you would like further information or have any questions, please contact us.

Mitzi Gilligan

M: +61 3 8645 8400
E: mitzi.gilligan@hivelegal.com.au
W: www.hivelegal.com.au

Email: mitzi.gilligan@hivelegal.com.au Mobile: +61 3 8645 8400