Game-changing moment for energy storage as first virtual storage hedge contract deal done

Game-changing moment for energy storage as first virtual storage hedge contract deal done

Case Studies

Information

Clean energy market innovator Renewable Energy Hub today announced the first transactions of its new ‘Virtual Storage’ electricity swap contract between Hydro Tasmania and two buyers – Macquarie Group and ERM Power. This innovative financial instrument is for the buying and selling of stored energy. It helps market participants agree upon a set spread between the charge and discharge price for pumped hydro energy storage and battery operators. Chris Halliwell, Co-Founder and Head of Markets at Renewable Energy Hub, said this innovative hedging contract introduced by Renewable Energy Hub will help firm up renewables and support retailers to hedge spot market prices. “As the energy market changes, the financial markets are changing with it.” said Halliwell.
Renewable Energy HubRenewable Energy Hub is an independent renewable energy procurement specialist for large Australian commercial, industrial, and government energy buyers. We are the consulting arm of TFS Australia, the leading broker of wholesale energy and environmental market products in Australia for almost two decades - part of the global Tradition located in 29 countries worldwide.  Backed by ARENA, we offer unparalleled energy market expertise and extensive services across renewable energy market scoping, project evaluation and procurement. Our team combines expert knowledge of the wholesale and retail energy markets with in-depth renewable energy development and project finance experience.   Our services include energy procurement, market advisory and consulting, acquisition and project finance.    We work closely with our customers to provide solutions to the complexities of renewable energy sourcing through power purchase agreements (PPA), retail electricity arrangements and Renewable Energy Certificate procurement.   

Log in