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ABC News
ABC News
Business
political reporter Jake Evans

Renewables providers to be paid to ensure stable electricity supply

Matt Kean Electricity Chris Bowen Renewable Energy

Federal and state-level governments have unanimously signed on to develop an energy "capacity mechanism", a scheme that will pay renewable energy providers to be available to increase electricity supply at a moment's notice.

The mechanism is designed to fill any gaps in supply by covering generator costs when prices are low and recouping that money when prices are higher.

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