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GenCost: Annual insights into the cost of future electricity generation in Australia

2 April 2024

2023-24 GenCost consultation draft released

The drafting considers inputs sourced on real-time engineering and construction cost data points in Australia, as well as overseas parallels, information from equipment manufacturers, software and literature. Key points in the current draft are:

Annual change in capital costs: Across the board, new build costs have generally stabilised as the impacts of inflation ease. However, cost pressure remains on gas, onshore wind and nuclear SMR.

 

  • Pre-2030 integration costs now included.
  • Variable renewables still found to have the lowest cost range of any new-build technology.
  • Inflation impacts easing.
  • Large scale solar falls.
  • Pressure remains on gas, onshore wind and nuclear SMR
  • To read more click here