I am proud to announce that the City of Sydney has signed a Heads of Agreement with energy provider Cogent to create a new energy network for the city.
This new network will use trigeneration - which means it will deliver electricity as well as heating and cooling. Combining these elements drastically reduces the amount of carbon pollution created, and reducing pollution by 60%.
The trigeneration network will supply council and privately owned buildings in four low-carbon-zones across central Sydney:
- CBD North (Martin Place/George Street)
- CBD South (Town Hall Precinct)
- Green Square
The City's interim trigeneration master plan includes providing 70 per cent of the local government area's electricity requirements by 2030 - that's a total of 360 megawatts (MW). However, new estimates suggest that we have the potential to create 410 MW of cleaner, more efficient energy, heating and cooling.
By generating energy at a local level, we are not only increasing our efficiency and reducing our pollution - we are reducing costs.
Electricity prices from the coal-fired grid are expected to rise an average 83% over the five years to 2013-14 as energy companies spend $17.4 billion to upgrade the electricity grid or network. Network charges - the cost of transporting electricity - are set to rise from 40 to 60 per cent of the average electricity bill.
Two new power stations are planned for NSW with a capacity of 4,000 MW, costing from $4.6 billion to $7 billion. If these proposed power stations were to use coal they would emit 23 million tonnes of carbon dioxide per year or 15 per cent of NSW's total carbon pollution.
Investing in trigeneration is just one of the actions we are taking at the City to reduce our carbon pollution which is driving climate change.
To find out how trigeneration works, please visit www.cityofsydney.nsw.gov.au/environment/Trigeneration.asp