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Research

NEM Reform: A conversation with Tim Nelson

Market & Policy Updates

3 days ago

Australia’s energy system is in transition - and so are its markets. At the end of 2024, a review of the NEM and its wholesale market settings was kicked off by a four-person panel led by Tim Nelson. The first recommendations of the now commonly known ...

Capacity Swap x Virtual Toll: A case study of offtake stacking in the NEM

3 days ago

As developers push to de-risk projects and investors hunt for predictable returns, the BESS offtake market in the NEM is evolving fast. Ampyr’s recently announced offtake stacking for its Bulabul battery - pairing a Zen Energy virtual toll with a capa...

Constrained charging: Why NSW batteries were caught charging at $14k/MWh

Battery Operations

25 Nov 2025

Constraints have been a problem for New South Wales in 2025. They have prevented low-priced renewable generation in the South West to reach demand centres, creating the conditions for increased volatility. And they’ve made it difficult for batteries in constrained regions to dispatch into these price spikes. Smart optimisers have been able to find ways to maximise output during price spikes, even whilst constrained. However, last week, multiple different batteries were caught out charging during price spikes - showing constraints can still cause problems.

Explainer: South Australia’s FERM Tender

13 Nov 2025

South Australia has launched the first round of its Firming Energy Reliability Mechanism (FERM) tender, a program designed to secure long-duration dispatchable capacity as the state transitions to higher penetrations of variable renewable energy. The tender is administered by the Australian Energy Market Operator Services Limited (ASL) and targets 400 MW of firming capacity to be online by November 2028.

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