Genex Power Limited (ASX:GNX) (Genex or Company) welcomes the recommendations contained within the report commissioned by the Federal and State Energy Ministers by Dr Alan Finkel, Australia’s Chief Scientist, into a review of the National Electricity Market (NEM) rules (Finkel Review) which was presented to the Prime Minister and State Premiers on Friday in Hobart.
The Finkel Review was aimed at providing government with a blueprint for energy sector security across the grid as well as ways to look at affordability and sustainability whilst more renewable energy flows into the electricity system. In particular, the Finkel Review, which focusses on a logical trilogy of energy security, energy reliability and reduced emissions, proposes that broader deployment of renewable and intermittent energy should necessarily be accompanied by energy storage, including batteries and pumped hydro.
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